Fidelity Private Credit Fund Declares August Distributions; Reports July NAV

What Happened

• Fidelity Private Credit Fund announced cash (or reinvestible) distributions on August 27, 2026 for each share class and furnished a July 2026 fact sheet. The distributions (record date: open of business Aug 31, 2026; pay date: on or about Sept 30, 2026) include a regular gross distribution of $0.1750 per share and a variable supplemental distribution of $0.0160 per share.
• The fund also reported July 31, 2026 net asset values (NAV) and portfolio/performance stats in the 8-K filing.

Key Details

• Distribution amounts (per share): Gross $0.1750 for all classes; Net by class — Class I $0.1750, Class S $0.1575 (after $0.0175 servicing fee), Class D $0.1699 (after $0.0051 servicing fee). Variable supplemental distribution: $0.0160 per share.
• NAV (as of 7/31/2026): Class I $24.69; Class S $24.66; Class D $24.69. Aggregate NAV: $1.4 billion; portfolio fair value $2.5 billion; principal debt outstanding $1.1 billion; debt-to-equity ≈ 0.83x.
• Performance and credit metrics: weighted-average mark on directly originated loans 98.4; zero non-accruals; July net investment income $0.21 per share (covered a $0.19 distribution). Year-to-date total net return (Class I) 3.78%, outperforming the leveraged loan index by 157 bps and high yield bonds by 219 bps.
• July NAV movement: decline of $0.03 per share driven by $0.16 per share of realized losses (from a closed restructuring of a broadly syndicated borrower, STG Distribution LLC), partially offset by $0.11 unrealized gains and $0.02 income accretion. The fund uses an independent third‑party monthly valuation process.

Why It Matters

• Income: The declared distributions (regular + supplemental) provide near-term cash or reinvestment options for shareholders and reflect the fund’s ability to generate monthly investment income (July NII $0.21/share).
• Portfolio health & risk: NAV, the weighted mark (98.4), and zero non-accruals indicate mostly healthy credit metrics, while the realized loss from a borrower restructuring shows that individual credits can still meaningfully affect monthly NAV.
• Leverage & scale: With ~$1.4B NAV, $2.5B in portfolio fair value and ~$1.1B debt (0.83x debt-to-equity), leverage is material — investors should monitor leverage and valuation methodology (monthly third‑party marks) when assessing volatility and liquidity.
• Fund growth: The Fund continues a continuous public offering (up to $4.0B) and had issued ~55.85M shares for ~$1.423B total consideration through Aug 1, 2026, which may affect asset size and future distributions.

(For full figures, dates and disclosures, see the Fund’s Form 8-K filed 08/27/2026 and the attached July 2026 fact sheet.)