Fidelity Investments is taking a deep dive into alternative investments. It now has launched Fidelity Private Credit Fund, a non-traded business development company (BDC), which will be distributed through financial advisors and intermediaries in 43 states and territories, according to DIWire.com.

Fidelity Investments formed Fidelity Diversifying Solutions LLC as an investment advisor to support the growth of Fidelity's alternative investment capabilities, and it will manage the new BDC. The BDC's objective is to generate current income and long-term capital appreciation. According to Fidelity, the fund intends to pursue those objectives through directly originated loans to private companies and other select private credit investments.

Fidelity boasts that clients can access Fidelity Private Credit Fund through Fidelity Institutional's Alternative Investments Platform for a seamless digital transaction. The fund is also expected to be available via CAIS, an alternative investment platform, in the coming months.

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