As of September 30, 2023
- Class I
Past performance is not necessarily indicative of future results.
1. Annualized distribution yield is calculated by annualizing the current declared distribution and dividing by the last reported monthly net asset value. Distributions have been and may in the future be funded through sources other than cash flow. See the Fund’s prospectus. The Fund will post notices regarding distributions subject to Section 19(a) of the Investment Company Act of 1940. We cannot guarantee that we will make distributions, and if we do, we may fund such distributions from sources other than cash flow from operations, including the sale of assets, borrowings, return of capital, or offering proceeds, and we have no limits on the amounts we may pay from such sources. As of current month end 100% of inception to date distributions were funded from cash flows from operations. A return of capital (1) is a return of the original amount invested, (2) does not constitute earnings or profits and (3) will have the effect of reducing the basis such that when a shareholder sells its shares the sale may be subject to taxes even if the shares are sold for less than the original purchase price. Distributions may also be funded in significant part, directly or indirectly, from temporary waivers or expense reimbursements borne by the Adviser or its affiliates, that may be subject to reimbursement to the Adviser or its affiliates. The repayment of any amounts owed to our affiliates will reduce future distributions to which you would otherwise be entitled.Total Net Return2
| Share Class | 1-Month | 3-Month | YTD | 1-Yr | 3-Yr | 5-Yr | Since Inception* |
|---|---|---|---|---|---|---|---|
| Class I | 1.32% | 3.30% |
- | - | - | - | 7.17% |
*Fund Inception 3/13/2023
2. Total Net Return is calculated as the change in NAV per share during the period, plus distributions per share (assuming dividends and distributions are reinvested) divided by the beginning NAV per share. Returns greater than one year are annualized. All returns are derived from unaudited financial information and are net of all Fidelity Private Credit Fund (the Fund) expenses, including general and administrative expenses, transaction related expenses, management fees, incentive fees, and share class specific fees, but exclude the impact of early repurchase deductions on the repurchase of shares that have been outstanding for less than one year. Past performance is historical and not a guarantee of future results. Class I does not have upfront placement fees. The returns have been prepared using unaudited data and valuations of the underlying investments in the Fund which are estimates of fair value and form the basis for the Fund’s NAV. Valuations based on unaudited reports from the underlying investments may be subject to later adjustments, may not correspond to realized value and may not accurately reflect the price at which assets could be liquidated.
Historical Distribution Per Share
| Share Class | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 Base Distributions | - | - | - | $0.1750 |
$0.1750 |
$0.1750 |
$0.1750 |
$0.1750 |
$0.1750 | $0.1750 | |||
| 2023 Variable Supplemental Distributions | - | - | - | $0.0250 | $0.0300 | $0.0300 | $0.0300 | $0.0300 | $0.0400 | $0.0400 | |||
| Total | - | - | - | $0.2000 |
$0.2050 | $0.2050 | $0.2050 | $0.2050 | $0.2150 | $0.2150 |
Historical Performance
| Share Class |
Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Class I |
2023 | - | - | 1.26% | 0.63% | 0.66% | 1.14% | 0.83% | 1.11% | 1.32% |
Current performance may be higher or lower than that quoted. Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold.
Historical NAV Per Share
| Share Class | Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Class I | 2023 | - | - | $25.31 | $25.27 | $25.24 | $25.32 | $25.32 | $25.40 | $25.52 |
Fidelity Advisors Interested in Fidelity Private Credit Fund
if you are an individual investor, please reach out to your Financial Advisor.
Investors should review the offering documents, including the description of risk factors contained in the Fund's Prospectus (the "Prospectus"), prior to making a decision to invest in the securities described herein. The Prospectus will include more complete descriptions of the risks described below as well as additional risks relating to, among other things, conflicts of interest and regulatory and tax matters. Any decision to invest in the securities described herein should be made after reviewing such Prospectus, conducting such investigations as the investor deems necessary and consulting the investor’s own legal, accounting and tax advisors in order to make an independent determination of the suitability and consequences of an investment in the Fund.
We have no prior operating history and there is no assurance that we will achieve our investment objective.
An investment in our Common Shares may not be appropriate for all investors and is not designed to be a complete investment program.
This is a “blind pool” offering and thus you will not have the opportunity to evaluate our investments before we make them.
You should not expect to be able to sell your shares regardless of how we perform.
You should consider that you may not have access to the money you invest for an extended period of time.
We do not intend to list our shares on any securities exchange, and we do not expect a secondary market in our shares to develop.
Because you may be unable to sell your shares, you will be unable to reduce your exposure in any market downturn.
We intend to implement a share repurchase program, but only a limited number of shares will be eligible for repurchase and repurchases will be subject to available liquidity and other significant restrictions.
An investment in our Common Shares is not suitable for you if you need access to the money you invest.
We cannot guarantee that we will make distributions, and if we do we may fund such distributions from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, or return of capital, and we have no limits on the amounts we may pay from such sources.
Distributions may also be funded in significant part, directly or indirectly, from temporary waivers or expense reimbursements borne by the Adviser or its affiliates, that may be subject to reimbursement to the Adviser or its affiliates. The repayment of any amounts owed to the Adviser or its affiliates will reduce future distributions to which you would otherwise be entitled.
We expect to use leverage, which will magnify the potential for loss on amounts invested in us.
We qualify as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our Common Shares less attractive to investors.
We intend to invest primarily in securities that are rated below investment grade by rating agencies or that would be rated below investment grade if they were rated. Below investment grade securities, which are often referred to as “junk,” have predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal. They may also be illiquid and difficult to value.