Fidelity Private Credit Fund 8-K

What Happened
Fidelity Private Credit Fund announced April 24, 2026 distributions and supplemental payouts and reported net asset value (NAV) and portfolio metrics as of March 31, 2026. The Fund declared a gross distribution of $0.1750 per share for each class (Class I, S and D) plus a variable supplemental distribution of $0.0160 per share. Record date for both distributions is the open of business on April 30, 2026, and payments will be made on or about May 29, 2026; shareholders may receive cash or reinvest shares under the Fund’s reinvestment plan.

The filing also reported NAV and portfolio status as of March 31, 2026 and a quarterly performance update. NAV per share was $24.95 (Class I), $24.93 (Class S) and $24.95 (Class D). Aggregate NAV was approximately $1.3 billion, portfolio fair value $2.5 billion, principal debt outstanding $1.2 billion (debt-to-equity ≈ 0.87x). The Fund reported Q1 2026 net investment income of $0.57 per share (distributed $0.57) and a quarter net realized/unrealized loss of ($0.12) per share; Class I quarter-to-date total net return was 1.71%.

Key Details

• Declared distributions (payable ~May 29, 2026; record date Apr 30, 2026): Gross $0.1750/share for all classes; Class S servicing fee $0.0177 (net $0.1573); Class D servicing fee $0.0052 (net $0.1698); Class I net $0.1750. Supplemental distribution: $0.0160/share.
• NAV and balance sheet (Mar 31, 2026): NAV per share — Class I $24.95; Class S $24.93; Class D $24.95. Aggregate NAV ~$1.3B; portfolio fair value $2.5B; debt outstanding $1.2B; debt-to-equity ≈ 0.87x.
• Performance and marks: Since inception net investment income $7.64/share and distributions $7.69/share paid Mar 2023–Mar 2026. Q1 2026: earned $0.57/share, distributed $0.57/share; net realized/unrealized loss ($0.12)/share; interest-rate-swap unrealized mark ($0.03)/share (non-cash hedge). Direct lending weighted-average mark 98.75.
• Offering status: Continued continuous public offering up to $4.0B. Total shares issued (through Apr 1, 2026): 54,227,047 shares; total consideration about $1,382.3M.

Why It Matters
Distributions and the supplemental payout provide current cash return to shareholders and the record/payable dates are immediate (Apr 30 / ~May 29, 2026). The NAV and portfolio figures give investors a snapshot of the Fund’s size, leverage (≈0.87x debt-to-equity) and valuation as of quarter-end. Quarterly results show steady income generation (net investment income paid) but a small mark-to-market loss in Q1 driven by asset valuation changes and a non-cash hedge mark; the Fund emphasizes income and full-cycle performance rather than single-quarter optimization. The continued $4.0B offering and share issuance levels indicate ongoing capital raising activity.