Private company

Fidelity Private Credit Fund

Fund registered in the United States, based in Wilmington, active since 20222

In its 2026 annual report the company says: “The Fund is a non-diversified, closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended.”6

Last updated Oct 20, 2026.

Overview

$75.9MNet income, fiscal 20253
  • HeadquartersWilmington, United States2
  • Incorporated inDE4
  • Business address245 Summer Street, Boston, Ma 022104
  • Filer category, Emerging growth company4
  • Legal formFUND2
  • Kind of organizationFund2
  • LEI549300EXGUQRHSZQSY232
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O WILMINGTON TRUST, NATIONAL ASSOCIATION, 19890 Wilmington, United States2
  • Registered withSecurities and Exchange Commission, 00019204532

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Fidelity Private Credit Fund (the “Fund,” “we,” “us” or “our”) is a Delaware statutory trust that was formed on March 23, 2022. The Fund is a non-diversified, closed-end management investment company that has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund is externally managed by Fidelity Diversifying Solutions LLC (“FDS” or the “Adviser”), which is registered as an investment adviser with the U.S. Securities and Exchange Commission (the “SEC”) and an affiliate of FMR LLC (“FMR”) and its subsidiaries. The Fund has elected to be treated and intends to qualify annually, as a regulated investment company (“RIC”) as defined under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”).6 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

5.9%Return on equity3
0.16×Debt to equity3

Financial statements

Net income3$75.9M in 2025+176% since 2023
0$20.0M$40.0M$60.0M$80.0M2023: $27.4M$27.4M20232024: $63.6M$63.6M2024+132%2025: $75.9M$75.9M2025+19%
Fiscal year2022202320242025
Operating expenses$13.6M10
Interest$010$1.5M11$26.1M11
Income tax$200.0K3$200.0K3
Net income$27.4M3$63.6M3$75.9M3

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Corporate structure

Fidelity Private Credit Fund sits at the top of its group. 8 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Fidelity Private Credit Fund

  • FMR LLC Filed SCHEDULE 13D/A on Fidelity Private Credit Fund, latest Oct 29, 2025 (15 filings since Mar 23, 2023)
  • Fidelity Private Credit Fund Wilmington, Delaware, United States
    • Fidelity Private Credit Fund Blocker 2 LLC Subsidiary · Delaware, United States
    • Fidelity Private Credit Fund BSPV LLC Subsidiary · Delaware, United States
    • Fidelity Private Credit Fund CSPV LLC Subsidiary · Delaware, United States
    • Fidelity Private Credit Fund GSPV LLC Subsidiary · Delaware, United States
    • Fidelity Private Credit Tactical 1 LLC Subsidiary · Delaware, United States
    • Fidelity Private Credit Tactical 2 LLC Subsidiary · Delaware, United States
    • FPCF CA SPE 2 LLC Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Fidelity Private Credit Fund reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Properties, in its own words

The Fund does not own any real estate or other physical properties materially important to its operation. The Fund’s corporate headquarters is located at 245 Summer Street, Boston, Massachusetts 02210. The Fund believes that its office facilities are suitable and adequate for its business as it is currently conducted.

Item 2 of the 10-K filed Mar 23, 2026.6

Leadership

Who has led Fidelity Private Credit Fund, and when. Pick a name to see everywhere that person has worked.

President

  1. Stephanie J. Dorsey2023
  2. Heather Bonner2023

Chief financial officer

  1. Stephanie A. Caron2024–now
2025
Board members and other officers (17)

Subsidiaries and ownership

Fund manager

Subsidiaries (Exhibit 21)

  • FPCF CA SPE 2 LLC Delaware5
  • Fidelity Private Credit Fund BSPV LLC Delaware5
  • Fidelity Private Credit Fund Blocker 2 LLC Delaware5
  • Fidelity Private Credit Fund CSPV LLC Delaware5
  • Fidelity Private Credit Fund GSPV LLC Delaware5
  • Fidelity Private Credit Tactical 1 LLC Delaware5
  • Fidelity Private Credit Tactical 2 LLC Delaware5

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record. The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Fidelity Private Credit TrustApr 18, 2022 to Aug 19, 20224

Timeline

  1. Sep 30, 20268-K Results of operations; Regulation FD disclosure; Other events34
  2. Aug 27, 20268-K Results of operations; Regulation FD disclosure; Other events35
  3. Aug 12, 20268-K Results of operations; Regulation FD disclosure36
  4. Jul 29, 20268-K Results of operations; Regulation FD disclosure; Other events37
  5. Jun 26, 20268-K Results of operations; Regulation FD disclosure; Other events38
  6. May 28, 20268-K Results of operations; Regulation FD disclosure; Other events39
  7. May 14, 20268-K Results of operations; Regulation FD disclosure40
  8. Apr 30, 20268-K Results of operations; Regulation FD disclosure41
  9. Apr 24, 20268-K Regulation FD disclosure; Other events42
  10. Apr 8, 20268-K Results of operations; Regulation FD disclosure43
  11. Mar 27, 20268-K Unregistered sale of shares; Regulation FD disclosure; Other events44
  12. Mar 23, 20268-K Results of operations; Regulation FD disclosure45
  13. Mar 23, 2022Founded Fidelity Private Credit Fund is founded2

Calendar

When it reported results

  1. Sep 30, 2026Reported quarterly or annual results34
  2. Aug 27, 2026Reported quarterly or annual results35
  3. Aug 12, 2026Reported quarterly or annual results36
  4. Jul 29, 2026Reported quarterly or annual results37
  5. Jun 26, 2026Reported quarterly or annual results38
  6. May 28, 2026Reported quarterly or annual results39
  7. May 14, 2026Reported quarterly or annual results40
  8. Apr 30, 2026Reported quarterly or annual results41

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

218 filings to the SEC since October 2021: 4 annual reports, 11 quarterly reports, 83 major events, 49 insider forms, 15 large holders, 56 other. The latest 20:

  1. Sep 30, 20268-K EDGAR
  2. Sep 22, 2026424B3 EDGAR
  3. Sep 8, 2026SC TO-I/A EDGAR
  4. Aug 27, 20268-K EDGAR
  5. Aug 12, 20268-K EDGAR
  6. Aug 12, 202610-Q EDGAR
  7. Aug 3, 2026SC TO-I EDGAR
  8. Jul 29, 20268-K EDGAR
  9. Jul 29, 2026SC TO-I/A EDGAR
  10. Jun 26, 20268-K EDGAR
  11. Jun 5, 2026SC TO-I/A EDGAR
  12. Jun 2, 2026424B3 EDGAR
  13. May 28, 20268-K EDGAR
  14. May 14, 20268-K EDGAR
  15. May 8, 202610-Q EDGAR
  16. Apr 30, 20268-K EDGAR
  17. Apr 30, 2026SC TO-I EDGAR
  18. Apr 29, 2026SC TO-I/A EDGAR
  19. Apr 27, 20264 EDGAR
  20. Apr 24, 20268-K EDGAR

The 218 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

19 open-market trades by officers, directors and large owners since October 2021: 19 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Apr 24, 2026Scott Jeffrey DVice PresidentBuy4,007$24.95$100.0KForm 4
Mar 27, 2026Icuss ThereseVice PresidentBuy9,954$25.11$249.9KForm 4
Mar 27, 2026Gaito DavidVice PresidentBuy5,972$25.11$150.0KForm 4
Jan 29, 2026Gannon Robert T.Vice PresidentBuy219$25.09$5.5KForm 4
Nov 26, 2025Gannon Robert T.Vice PresidentBuy218$25.23$5.5KForm 4
Aug 28, 2025Gannon Robert T.Vice PresidentBuy315$25.37$8.0KForm 4
Mar 28, 2025Icuss ThereseVice PresidentBuy9,713$25.74$250.0KForm 4
Dec 27, 2024Gaito DavidVice PresidentBuy11,569$25.93$300.0KForm 4
Nov 27, 2024Scott Jeffrey DVice PresidentBuy5,805$25.84$150.0KForm 4
Apr 26, 2024Quinlan ChristopherVice PresidentBuy3,181$25.78$82.0KForm 4
Nov 29, 2023FMR LLCBuy783$25.54$20.0KForm 4
Jul 27, 2023Conti Matthew JDirectorBuy47,395$25.31$1.2MForm 4
Jun 27, 2023FMR LLCBuy346,723$25.23$8.7MForm 4
Mar 13, 2023Icuss ThereseVice PresidentBuy10,000$25.00$250.0KForm 4
Mar 13, 2023Sheth VishalVice PresidentBuy5,000$25.00$125.0KForm 4
Mar 13, 2023Scott Jeffrey DVice PresidentBuy10,000$25.00$250.0KForm 4
Mar 13, 2023Jones David BlandfordDirectorBuy6,000$25.00$150.0KForm 4
Mar 13, 2023Lank HarleyVice PresidentBuy80,000$25.00$2.0MForm 4
Mar 13, 2023Gaito DavidVice PresidentBuy16,000$25.00$400.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • FMR LLCSCHEDULE 13D/A, 15 filings Mar 23, 2023 to Oct 29, 202546

SEC filer profile

How Fidelity Private Credit Fund is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFidelity Private Credit Fund1
  • CIK0001920453
  • Employer ID (EIN)88-65857996
  • Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company6
  • Incorporated inDelaware6
  • Fiscal year endsDecember 311
  • Business address245 Summer Street, Boston, MA 022101
  • Phone617-563-70001
  • Shares outstanding53,561,162 Class I Common Shares shares; 110,240 Class S Common Shares shares; 489 Class D Common Shares shares as of Mar 18, 20266
  • Public float$0 as of Dec 31, 20253
  • AuditorDeloitte & Touche LLP, Boston, Massachusetts PCAOB ID 34; no auditor attestation of internal control over financial reporting6
  • On EDGAR sinceApr 18, 20221
  • Filings230 in all: 8-K (82), 4 (26), 3 (23), SC TO-I/A (16), SC TO-I (14), SC 13D/A (12), 10-Q (11), 40-APP/A (9)1
    All 25 form types

    N-2/A (6), 40-APP (5), 10-K (4), 424B3 (4), 486BPOS (3), 40-17G (2), N-2 (2), SCHEDULE 13D/A (2), 8-A12G (1), 8-K/A (1), APP NTC (1), APP ORDR (1), CORRESP (1), EFFECT (1), N-54A (1), N-6F (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Mar 23, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Latest 8-K (8-K) Sep 30, 2026

Risk factors and legal proceedings

The risks Fidelity Private Credit Fund names in Item 1A of its 10-K filed Mar 23, 2026: 75 risks under these headings, as written.6

  • Risks Relating to an Investment in the Fund
  • Risk of Failure to Achieve Investment Objective.
  • Competition with Other Entities, Including Commercial Banks, Commercial Financing Companies, BDCs, Insurance Companies and Other Private Funds.
  • Risk of Dependence on Key Personnel of the Adviser.
  • Illiquid Investments and Restrictions on Withdrawal.
  • Fund Investors have No Right to Control the Fund’s Operations.
  • The Fund’s Assets are Subject to Recourse.
  • No Assurance the Fund Will be Able to Obtain Leverage.
  • No Assurance of the Availability of Leverage.
  • Obtaining a Rating from a Credit Rating Agency.
  • Expedited Investment Decisions.
  • Compliance with Applicable Law.
The other 64 risks
  • Possession of Material Non-Public Information, Limiting the Adviser’s Discretion.
  • Systems and Operational Risks.
  • Reliance on Data; Data Errors.
  • Public Disclosure Obligations.
  • Artificial Intelligence and Machine Learning Risks.
  • Electronic Delivery of Information Risk.
  • No Registration as an Investment Company.
  • Rights Against Third Parties, Including Third-Party Service Providers.
  • Consultation with Sourcing and Operating Partners Risk.
  • Timing of Realization of Investments.
  • Risks Relating to the Use of Proceeds.
  • Risk of Electronic Delivery of Certain Documents.
  • Risks Relating to Handling of Mail.
  • Volatility of Investment Prices.
  • Syndication and/or Transfer of Investments Risk.
  • Return of Distributions to Satisfy Unpaid Debts of the Fund.
  • Changes in the Fund’s Investment Objective, Operating Policies or Strategies Without Prior Notice or Investor Approval.
  • Changes to the Fund’s Declaration of Trust Without Prior Investor Approval.
  • Allocation of Investment Opportunities and Related Conflicts.
  • Timing of Repurchase May be Disadvantageous.
  • Pandemics and Natural Disasters Risk.
  • Risks Relating to the Fund’s Investments
  • Risks Associated with Portfolio Companies.
  • Risks Relating to Securities Lending.
  • Provision of Managerial Assistance and Control Person Liability.
  • Adverse Developments in the Debt Capital Markets.
  • Temporary Investments; Use of Cash and Cash Equivalents Risk.
  • Exposure to Foreign Markets Risk.
  • Insolvency of Issuers, Counterparties, and Intermediaries.
  • Non-Recourse Obligations Risk.
  • Debt Guaranteed by a Subsidiary of the Issuer Risk.
  • Loans with Limited Amortization Requirements Risk.
  • Risks Related to Changes in Interest Rates.
  • Structured Credit Instruments Risk.
  • Illiquidity of Fund Investments Risk.
  • Distressed and Highly Leveraged Companies Risk.
  • Bankruptcy Involving Non-U.S. Companies Risk.
  • Investments in Special Situations Risk.
  • Creditors’ Committee and/or Board Participation Risk.
  • Investments in Portfolio Companies in Regulated Industries Risk.
  • Investments in Original Issue Discount and PIK Instruments Risk.
  • Inability of Investments to Repay or Refinance Outstanding Principal.
  • Risk of No Controlling Equity Interests.
  • Minority Investments and Joint Ventures Risk.
  • Fraudulent Conveyances and Voidable Preferences by Issuers.
  • Risk of Default Under a Credit Facility.
  • Risks Relating to Certain Regulatory and Tax Matters
  • Regulations Governing the Fund’s Operation as a BDC.
  • Investing a Sufficient Portion of Assets in Qualifying Assets.
  • The Fund is Subject to Risks Relating to Pay-to-Play Laws, Regulations and Policies.
  • Government Policies, Changes in Laws, and International Trade.
  • European Union General Data Protection Regulation.
  • Potential Controlled Group Liability.
  • Being an “Emerging Growth Company”.
  • Compliance with the SEC’s Regulation Best Interest.
  • Federal Income Tax Risks
  • Paying Required Distributions.
  • “Publicly Offered Regulated Investment Company” Tax Issue.
  • Legislative or Regulatory Tax Changes.
  • The foregoing list of risk factors does not purport to be a complete enumeration or explanation of the risks involved in an investment in the Fund. Each prospective Fund investor should read this entire Form 10-K, the Declaration of Trust of the Fund, the Fund's prospectus, and consult with its advisers before deciding whether to invest in the Fund. In addition, as the Fund’s investment program develops and changes over time, an investment in the Fund may be subject to additional and different risk factors.
  • Conflicts of Interest
  • Relationship among the Fund, the Adviser and the Portfolio Managers.
  • Performance Based Compensation and Management Fees.
  • Transaction Fees and Other Fees.
  • Policies and Procedures of the Adviser and its Affiliates.
  • Conflicts of Interest Generally.
  • Diverse Membership; Relationships with Fund Investors.
  • Conflicts with Portfolio Companies.

Legal proceedings

The Fund is not currently subject to any material legal proceedings, nor, to the Fund’s knowledge, is any material legal proceeding threatened against the Fund. From time to time, the Fund may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Fund’s rights under loans to or other contracts with the Fund’s portfolio companies. While the outcome of these legal proceedings cannot be predicted with certainty, the Fund does not expect that these proceedings will have a material effect upon the Fund’s financial condition or results of operations.

The opening of Item 3, Legal Proceedings.6

Sources

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