The Fund

Fidelity Private Credit Fund

Current Income Solution from an Institutional-Quality Private Credit Provider


As of February 29, 2024

  • Class I
  • Class S
  • Class D

$25.92
NAV
10.07%
Annualized Net Distribution Yield¹
1. Annualized distribution yield is calculated by annualizing the current declared distribution and dividing by the last reported monthly net asset value 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. See the Fund's prospectus. 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. The Fund will post notices regarding distributions subject to Section 19(a} of the investment Company Act of 1940, if applicable.

Total Net Return2 

Share Class 1-Month 3-Month YTD 1-Yr 3-Yr 5-Yr Since Inception*
Class I 1.24% 3.96%
 2.11% - 13.48%

*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 Net Distribution Per Share 

Class I  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
 2024 Base Distributions  $0.1750 $0.1750  $0.1750  -  - -  -
 2024 Variable Supplemental Distributions  $0.0425 $0.0425  $0.0425  -  -  - -  -
 2024 Total  $0.2175 $0.2175  $0.2175  -
2023 Base Distributions - - - $0.1750
$0.1750
$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  $0.0400  $0.0400 
2023 Total  -  - $0.2000
 $0.2050 $0.2050  $0.2050 $0.2050 $0.2150 $0.2150  $0.2150  $0.2150 



Historical Performance

Share Class
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
Class I  2024 0.86%  1.24%  -  - 2.11% 
Class I
2023 - - 1.26% 0.63% 0.66% 1.14% 0.83% 1.11% 1.32% 0.92%
0.93% 1.81% -

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 2024   $25.82 $25.92  -  -  -  -  -
Class I 2023 - - $25.31 $25.27 $25.24  $25.32  $25.32 $25.40 $25.52  $25.54   $25.56 $25.81



$25.92
NAV
9.22%
Annualized Net Distribution Yield¹
1. Annualized distribution yield is calculated by annualizing the current declared distribution and dividing by the last reported monthly net asset value 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. See the Fund's prospectus. 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. The Fund will post notices regarding distributions subject to Section 19(a} of the investment Company Act of 1940, if applicable.

Total Net Return2 

Share Class 1-Month 3-Month YTD 1-Yr 3-Yr 5-Yr Since Inception*
Class S (No Upfront Placement Fee) 1.17% 3.74%
 1.97% - 4.63%
Class S (With Upfront Placement Fee)3  -2.37% 0.11%  -1.60%  - 0.97%

Fund Inception 3/13/2023
*Class Inception 11/1/2023

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. Class D and Class S listed as (With Upfront Placement Fee) reflect the returns after the maximum upfront placement fees. Class D and Class S listed as (No Upfront Placement Fee) exclude 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. 

3. Assumes the maximum amount of upfront placement fees that selling agents may charge (1.5% Class D and 3.5% for Class S).

Historical Net Distribution Per Share 

Class S  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
 2024 Base Distributions $0.1567 $0.1567 $0.1566                   
 2024 Variable Supplemental Distributions $0.0425 $0.0425  $0.0425                     
 2024 Total $0.1992  $0.1992  $0.1991                    
2023 Base Distributions - - - -
-
-
-
-
-  $0.1569  $0.1569
2023 Variable Supplemental Distributions - - - -  - - - - -  $0.0400  $0.0400
2023 Total  -  - -
 - -  - - - $0.1969  $0.1969



Historical Performance

Share Class
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
Class S (No Upfront Placement Fee) 2024 0.79% 1.17%  -  -  - 1.97% 
Class S (No Upfront Placement Fee)
2023 - - - - - - - - - -
0.85% 1.74%
-

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.

Does not assume payment of the maximum upfront placement fees at initial subscription for Class D or Class S shares. Class I does not have upfront placement fees. Payment of the upfront placement fees reduces returns. 


Historical NAV Per Share 

Share Class Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Class S 2024  $25.82 $25.92
                 
Class S 2023 - - - - -  -  - - -  $25.54   $25.56 $25.81 



$25.92
NAV
9.82%
Annualized Net Distribution Yield¹
1. Annualized distribution yield is calculated by annualizing the current declared distribution and dividing by the last reported monthly net asset value 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. See the Fund's prospectus. 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. The Fund will post notices regarding distributions subject to Section 19(a} of the investment Company Act of 1940, if applicable.

Total Net Return2 

Share Class 1-Month 3-Month YTD 1-Yr 3-Yr 5-Yr Since Inception*
Class D (No Upfront Placement Fee) 1.22% 3.90%
 2.07% - 4.83%
Class D (With Upfront Placement Fee)3 -0.30%
2.34%  0.54% - - - 3.26%

Fund Inception 3/13/2023
*Class Inception 11/1/2023

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. Class D and Class S listed as (With Upfront Placement Fee) reflect the returns after the maximum upfront placement fees. Class D and Class S listed as (No Upfront Placement Fee) exclude 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.

3. Assumes the maximum amount of upfront placement fees that selling agents may charge (1.5% Class D and 3.5% for Class S).

Historical Net Distribution Per Share 

Class D Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
 2024 Base Distributions $0.1696  $0.1696   $0.1696                  
 2024 Variable Supplemental Distributions $0.0425 $0.0425   $0.0425                  
2024 Total $0.2121   $0.2121    $0.2121                    
2023 Base Distributions - - - -
-
- -
-
-  -  $0.1697  $0.1697
2023 Variable Supplemental Distributions - - - -  - - - - -  -  $0.0400   $0.0400
2023 Total  -  - -
 - -  - - - - $0.2097  $0.2097



Historical Performance

Share Class
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
Class D (No Upfront Placement Fee) 2024 0.84% 1.22%                      2.07% 
Class D (No Upfront Placement Fee)
2023 - - - - - - - - - - 0.90% 1.79%
-

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.

Does not assume payment of the maximum upfront placement fees at initial subscription for Class D or Class S shares. Class I does not have upfront placement fees. Payment of the upfront placement fees reduces returns.

Historical NAV Per Share 

Share Class Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Class D 2024   $25.82  $25.92                    
Class D 2023 - - - - -  -  - - -  $25.54  $25.56 $25.81



Fidelity Advisors Interested in Fidelity Private Credit Fund

if you are an individual investor, please reach out to your Financial Advisor.