Fidelity Private Credit Fund Declares July Distributions; Reports June NAV

What Happened
Fidelity Private Credit Fund (the “Fund”) filed an 8‑K on July 29, 2026 announcing regular and supplemental distributions and reporting net asset value (NAV) and portfolio metrics as of June 30, 2026. The Fund declared gross distributions of $0.1750 per share for each class, plus a variable supplemental distribution of $0.0160 per share. Distributions were declared July 29, 2026 for shareholders of record at the open of business on July 31, 2026 and are payable on or about August 31, 2026. The Fund also issued a June 2026 fact sheet.

Key Details

• Distribution declared July 29, 2026:
  • Gross distribution per share: $0.1750 for Class I, S and D
  • Net distributions after servicing fees: Class I $0.1750; Class S $0.1575 (servicing fee $0.0175); Class D $0.1699 (servicing fee $0.0051)
  • Variable supplemental distribution: $0.0160 per share (same record and pay dates)
  • Payment: cash or reinvestment under the Fund’s dividend reinvestment plan
• NAV and balance sheet (as of June 30, 2026):
  • NAV per share: Class I $24.72; Class S $24.70; Class D $24.72
  • Aggregate NAV: ~$1.3 billion; investment portfolio fair value: ~$2.5 billion; principal debt outstanding: ~$1.2 billion
  • Debt-to-equity ratio: ~0.88x
• Portfolio and performance metrics:
  • Weighted-average mark on directly originated loans: 98.5 (funded capital basis)
  • PIK income < 1.5%; zero non-accruals reported
  • Q2 net investment income: $0.57 per share (covered the $0.57 distribution)
  • Q2 realized loss: ($0.05) per share; unrealized losses: ($0.18) per share (includes ($0.04) swap valuation change)
  • Year‑to‑date total net return (Class I): 3.11% (unaudited)
• Offering status: continuous public offering up to $4.0 billion; total shares issued (through July 1, 2026) ~54.92 million representing ~$1.3998 billion in consideration.

Why It Matters
For income-focused retail investors, the declared regular and supplemental distributions signal the Fund is continuing to pay monthly cash or reinvested dividends. The June 30 NAV and portfolio figures (aggregate NAV ~$1.3B, portfolio fair value ~$2.5B, debt ~$1.2B) and a debt-to-equity ratio of ~0.88x provide a snapshot of leverage and scale. Portfolio quality metrics—98.5 weighted mark, PIK income under 1.5%, and zero non‑accruals—along with monthly independent valuations, suggest the Fund is emphasizing credit performance and mark-to-market discipline. As always, past performance and reported valuations are unaudited and not predictive of future results; investors should review the full fact sheet and offering materials before investing.