Fidelity Investments said Monday that it’s expanding its lineup of alternative investments by opening its first business development company, Fidelity Private Credit Fund.
The business development company will be available to individual investors and distributed through financial advisors. The Fidelity Private Credit Fund also will be available through Fidelity Institutional’s Alternative Investments Platform and through iCapital.
Fidelity said the fund aims to generate current income and long-term capital appreciation by lending directly to private companies and making other private credit investments. The fund will be managed by Fidelity Diversifying Solutions, an advisor that supports Fidelity’s alternative investments.
In 2022, Fidelity expanded into liquid alternatives with two new mutual funds, Fidelity Macro Opportunities Fund (FAQFX) and Fidelity Risk Parity Fund (FAPSX).
AI-driven job fears are weighing on retirement confidence, especially among Gen Z and Millennials, Thrivent survey finds
It’s the second time in as many years regulators have penalized Centaurus Financial for lack of compliance with Reg BI.
AI Teammate is embedded within Wells Fargo’s Advisor Gateway desktop platform.
Elsewhere, Ameriprise added a $470 million Wells team in New York, while an ex-Morgan Stanley advisor bolsters UBS' Austin, Texas office.
Financial advisors play an essential role in helping small business owners navigate their transition out of the company — and into retirement.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
