Fidelity Expands Alt Lineup With New Private Credit BDC

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Fidelity Investments is expanding its lineup of alternative investments with the addition of the Fidelity Private Credit Fund, a new business development company that aims to generate current income and long-term capital appreciation by originating loans to private companies.

The move comes amid growing investor interest in alternative investments, a broad category that includes private real estate, hedge fund strategies, and private equity and debt. It also builds on Fidelity’s direct lending business, which the giant asset…