Morningstar

Fidelity Private Credit Fund Class I

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Morningstar’s Analysis

Will Fidelity Private Credit Fund Class I outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable Fidelity Private Credit Fund Class I’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the Fidelity Private Credit Fund Class I management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of Fidelity Private Credit Fund Class I’s parent organization’s priorities and whether they’re in line with investors’ interests.

Patience is prudent here, but early signs are encouraging.

Senior Analyst Max Curtin

Max Curtin

Senior Analyst

Summary

There are reasons to be optimistic about Fidelity Private Credit’s long-term prospects, chief among them the strategy’s rigorous credit underwriting standards and the platform’s ability to grow at a responsible pace. There are also factors that call for patience, though, as the firm’s direct lending unit has only just passed its five-year mark. Taking that into consideration, the strategy earns Average People and Process ratings in its inaugural round of Morningstar analyst coverage.

by Max Curtin
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