Fidelity Private Credit Fund Files Q2 2025 10-Q

TL;DR

**Fidelity Private Credit Fund Q2 2025 10-Q is IN. Check financials.**

AI Summary

Fidelity Private Credit Fund filed its 10-Q for the period ending June 30, 2025. The filing, submitted on August 14, 2025, details the company's financial performance and position. The fund is incorporated in Delaware and headquartered at 245 Summer Street, Boston, MA.

Why It Matters

This filing provides investors with an update on the financial health and operational performance of Fidelity Private Credit Fund for the second quarter of 2025.

Risk Assessment

Risk Level: low — This filing is a standard quarterly report and does not contain immediate red flags.

Key Numbers

• 20250630 — Reporting Period End Date (Indicates the financial data covers up to this date.)
• 20250814 — Filing Date (Shows when the report was officially submitted to the SEC.)

Key Players & Entities

• Fidelity Private Credit Fund (company) — Filer of the 10-Q
• 20250630 (date) — End of the reporting period
• 20250814 (date) — Date of filing
• 245 Summer Street, Boston, MA (location) — Business and mailing address

FAQ

Key Financial Figures

• $0.01 — hares of beneficial interest, par value $0.01 Class S Common shares of beneficial i

Filing Documents

• ck0001920453-20250630.htm (10-Q) — 15747KB
• ck0001920453-ex31_1.htm (EX-31.1) — 18KB
• ck0001920453-ex31_2.htm (EX-31.2) — 18KB
• ck0001920453-ex32_1.htm (EX-32.1) — 10KB
• ck0001920453-ex32_2.htm (EX-32.2) — 10KB
• 0000950170-25-108923.txt ( ) — 44773KB
• ck0001920453-20250630.xsd (EX-101.SCH) — 2638KB
• ck0001920453-20250630_htm.xml (XML) — 12133KB

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 41 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 74 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 91 Item 4.

Controls and Procedures

Controls and Procedures 91 PART II. OTHER INFORMATION 92 Item 1.

Legal Proceedings

Legal Proceedings 92 Item 1A.

Risk Factors

Risk Factors 92 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 92 Item 3. Defaults Upon Senior Securities 92 Item 4. Mine Safety Disclosures 93 Item 5. Other Information 93 Item 6. Exhibits 93

Signatures

Signatures 94 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This report contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are current expectations, estimates, and projections of Fidelity Private Credit Fund (the "Fund," "we," "us" or "our") and/or Fidelity Diversifying Solutions LLC ("FDS" or the "Adviser") about the Fund, our current and prospective portfolio investments, our industry, our beliefs and opinions, and our assumptions. Forward-looking statements can be identified by the use of forward-looking terminology such as "may," "will," "should," "seek," "expect," "anticipate," "project," "estimate," "intend," "continue," "target," or "believe" or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of the Fund may differ materially from those reflected or contemplated in such forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and are difficult to predict, that could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation: our future operating results; our business prospects and the prospects of our portfolio companies; our ability to raise capital; geo-political conditions, including revolution, insurgency, terrorism or war, including those arising out of the ongoing conflict in Ukraine and Israel; the ability of our portfolio companies to achieve their objectives; our current and expected financing arrangements and investments; changes in the general interest rate environ

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements. Fidelity Private Credit Fund Consolidated Statements of Assets and Liabilities June 30, 2025 December 31, 2024 (unaudited) Assets Investments at fair value Non-controlled / non-affiliate investments (amortized cost $ 1,789,018,240 and $ 1,315,878,064 as of June 30, 2025 and December 31, 2024, respectively) $ 1,784,783,285 $ 1,321,270,559 Non-controlled / affiliate investments (amortized cost $ 88,497,215 and $ 47,327,982 as of June 30, 2025 and December 31, 2024, respectively) 88,107,511 47,969,881 Cash 27,341,137 18,260,082 Foreign cash (cost $ 238,956 and $ 80,238 as of June 30, 2025 and December 31, 2024 respectively) 241,532 78,147 Segregated cash with brokers for derivative instruments 4,453,434 — Receivable for daily variation margin on centrally cleared swaps 272,068 — Deferred financing costs 14,128,166 6,643,073 Receivables from sales and paydowns of investments 8,610,003 5,451,608 Interest receivable 22,249,165 17,605,385 Dividend receivable 673,375 344,043 Prepaid expenses and other assets 36,295 100,776 Total Assets $ 1,950,895,971 $ 1,417,723,554 Liabilities Debt (net of unamortized debt issuance costs $ 2,541,336 and $ 0 as of June 30, 2025 and December 31, 2024, respectively) 878,892,481 611,070,855 Payable for purchases of investments 947,702 3,960,000 Payable for capital shares repurchased 5,340,180 5,590,585 Distributions payable 8,946,937 11,207,148 Deferred revenue 406,402 — Interest payable 10,218,148 5,229,723 Management fee payable 1,089,864 818,848 Income based incentive fee payable 3,378,909 2,805,856 Capital gains incentive fee payable — 822,417 Due to affiliates, net 91,865 201,579 Other accounts payable and accrued liabilities 1,498,090 921,862 Total Liabilities $ 910,810,578 $ 642,628,873 Commitments and Contingencies (Note

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