Fidelity Private Credit Fund 8-K

What Happened

• Fidelity Private Credit Fund filed an 8-K on December 29, 2025 announcing regular and variable supplemental distributions for its common share classes, and reporting net asset value (NAV), portfolio fair value, debt levels and the status of its ongoing share offering. Distributions are payable to holders of record as of the open of business on December 31, 2025, and will be paid on or about January 30, 2026.

Key Details

• Regular distributions declared (gross per share): Class I $0.1750, Class S $0.1750 (servicing fee $0.0177, net $0.1573), Class D $0.1750 (servicing fee $0.0052, net $0.1698).
• Variable supplemental distribution: $0.0160 per share for all classes.
• NAV as of November 30, 2025: Class I $25.07, Class S $25.05, Class D $25.07. Aggregate NAV: ~$1.3 billion. Portfolio fair value: $2.2 billion. Principal debt outstanding: $991.9 million — debt-to-equity ~0.79x.
• Offering status: continuous public offering up to $4.0 billion. As of Dec 1, 2025 the Fund had issued 51,279,665 shares across the public and private offerings for total consideration of ~$1,308.2 million (Class I ~51.04M shares / $1,302.1M; plus small amounts in Class S and private offering).

Why It Matters

• The declared cash and supplemental distributions are the immediate income events investors receive (or can reinvest); net per-share amounts vary by share class because of servicing fees.
• NAV and the debt-to-equity ratio give investors a snapshot of per-share value and leverage (0.79x), which affects risk and return profile.
• The ongoing $4.0 billion offering and the ~51.3M shares issued to date indicate continued share issuance capacity and potential future dilution as the Fund raises capital.

Signed by Heather Bonner, President & Treasurer, on December 29, 2025.