Portfolio
Explore the Fund’s investment process and review select investments.
A differentiated approach to direct lending
The Fund predominantly lends to private U.S. middle market companies.
- All portfolio data shown, rounded, as of 12/31/2025. Figures are representative of the investments made across Fidelity’s direct lending products and are not limited to the Private BDC. While our strategic focus is within the range indicated above, the fund may selectively make investments in companies outside this range. 1. Loan to Value represents the average funded loan through Fidelity’s tranche, divided by the enterprise value of the business at close. 2. Pertains to debt investments only, and excludes mutual or other collective fund holdings.
A diversified portfolio to help limit risk
A private credit solution as diverse as the U.S. economy with predominantly first lien investments.
Source: Fidelity Investments. Portfolio composition as of 12/31/25. Data represents the weighted average of all active commitments across Fidelity Private Credit Fund.
The Fidelity advantage in action
Our experienced middle market direct lending team brings long-standing expertise and relationships, which are enhanced by Fidelity’s broader leveraged finance capabilities and extensive proprietary, real-time research platform.
MoboTrex, Industrials
MoboTrex is a leading provider of intelligent transportation systems equipment, serving departments of transportation, integrators, and other dealers. The company manufactures branded traffic-control signals and cabinets, and distributes third-party traffic cameras, radar-detection equipment, and pedestrian safety signals. Leveraging its long history, commitment to high quality, and US-based manufacturing, MoboTrex has established a leading market share. The company’s strong position in a growing industry with favorable demand trends underlies the team’s conviction in the investment.
Nexterra, Infrastructure Products
Nexterra Environmental specializes in distributing erosion control and stormwater management solutions to customers, including public infrastructure and commercial projects across the Midwest and Southeast. The company's local presence and technical expertise are essential to meet demands of local regulations, project-specific needs, and varying climate patterns. This approach helps drive market share and consistent, repeat business. Nexterra represents an attractive investment opportunity as a value-added provider to a diverse and sticky customer base, in a growing industry supported by government funding.
Sabrosura, Food and Beverage
Sabrosura Foods manufactures branded Hispanic foods ranging from meats and cheeses to beverages and desserts. Headquartered in Minneapolis, the company manufactures products in multiple facilities and sells to mass retailers, grocery stores, warehouse clubs, distributors, and other channels. Sabrosura represents an attractive opportunity to invest in a scaled provider of authentic Hispanic products with significant brand value that operates in a growing industry with attractive demographics and purchasing patterns.
Financial advisors interested in Fidelity Private Credit Fund
If you are an individual investor, please reach out to your financial advisor.
Investors should review the offering documents, including the description of risk factors contained in the Fund's Prospectus (the "Prospectus"), prior to making a decision to invest in the securities described herein. The Prospectus will include more complete descriptions of the risks described below as well as additional risks relating to, among other things, conflicts of interest and regulatory and tax matters. Any decision to invest in the securities described herein should be made after reviewing such Prospectus, conducting such investigations as the investor deems necessary and consulting the investor’s own legal, accounting and tax advisors in order to make an independent determination of the suitability and consequences of an investment in the Fund.
- There is no assurance that we will achieve our investment objective.
- An investment in our Common Shares may not be appropriate for all investors and is not designed to be a complete investment program.
- This is a “blind pool” offering and thus you will not have the opportunity to evaluate our investments before we make them.
- You should not expect to be able to sell your shares regardless of how we perform.
- You should consider that you may not have access to the money you invest for an extended period of time.
- We do not intend to list our shares on any securities exchange, and we do not expect a secondary market in our shares to develop.
- Because you may be unable to sell your shares, you will be unable to reduce your exposure in any market downturn.
- We intend to implement a share repurchase program, but only a limited number of shares will be eligible for repurchase and repurchases will be subject to available liquidity and other significant restrictions.
- An investment in our Common Shares is not suitable for you if you need access to the money you invest.
- We cannot guarantee that we will make distributions, and if we do we may fund such distributions from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, or return of capital, and we have no limits on the amounts we may pay from such sources.
- Distributions may also be funded in significant part, directly or indirectly, from temporary waivers or expense reimbursements borne by the Adviser or its affiliates, that may be subject to reimbursement to the Adviser or its affiliates. The repayment of any amounts owed to the Adviser or its affiliates will reduce future distributions to which you would otherwise be entitled.
- We expect to use leverage, which will magnify the potential for loss on amounts invested in us.
- We qualify as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our Common Shares less attractive to investors.
- We intend to invest primarily in securities that are rated below investment grade by rating agencies or that would be rated below investment grade if they were rated. Below investment grade securities, which are often referred to as “junk,” have predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal. They may also be illiquid and difficult to value.