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).
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