Fidelity Private Credit Fund 8-K

What Happened

• Fidelity Private Credit Fund filed an 8‑K on January 29, 2026 announcing distributions and reporting its net asset value (NAV) and offering status. The Fund declared base distributions of $0.1750 per share for each class and a variable supplemental distribution of $0.0160 per share. Distributions are payable on or about February 27, 2026 to shareholders of record at the open of business on January 30, 2026 and may be taken in cash or reinvested under the Fund’s reinvestment plan.

Key Details

• Distribution amounts (declared Jan 29, 2026; record date Jan 30, 2026; pay date on/about Feb 27, 2026):
  • Class I: Gross $0.1750; servicing fee $—; Net $0.1750
  • Class S: Gross $0.1750; servicing fee $0.0178; Net $0.1572
  • Class D: Gross $0.1750; servicing fee $0.0052; Net $0.1698
  • Variable supplemental distribution: $0.0160 per share (all classes)
• NAV and balance metrics as of December 31, 2025:
  • NAV per share — Class I $25.10; Class S $25.07; Class D $25.10
  • Aggregate NAV $1.3 billion; investment portfolio fair value $2.3 billion; principal debt $1.0 billion; debt‑to‑equity ≈ 0.82x
• Offering status (continuous public offering up to $4.0 billion; totals through Jan 1, 2026):
  • Offering: 52,238,190 Class I ($1,332.1M), 106,042 Class S ($2.8M), 485 Class D (~$0)
  • Private Offering: 130,783 Class I ($3.3M)
  • Total issued across Offering & Private Offering: ~52,475,500 shares; $1,338.2M total consideration

Why It Matters

• Distributions: The declared base and supplemental payments indicate the Fund’s current cash return to shareholders for the period; the supplemental amount increases the total payout per share by $0.016.
• NAV & leverage: The reported NAVs and a debt‑to‑equity ratio of ~0.82x provide a snapshot of per‑share value and financial leverage, important for assessing risk and yield sustainability.
• Offering activity: Ongoing share issuances (part of a $4.0B offering program) and ~$1.34B in consideration already issued may affect supply of shares and future per‑share metrics; investors should consider offering dilution and how new capital will be deployed.