First Trust Private Credit Fund
FTPCX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Milwaukee WI United States of America 02210
- IPO Date
- May 9, 2022
- CIK
- 0000840678
- Website
- fidelity.com
- Similar Companies
- Business
- First Trust Private Credit Fund (FTPCX) is a closed-end interval fund that seeks to produce current income through allocations to a range of private credit exposures, including direct co-investments, privately negotiated loans, and diversified debt securitizations. The Fund provides comprehensive access to private credit via senior-secured investments across three main asset classes—Asset-Based Lending, Specialty Direct Lending, and Structured Debt—as well as opportunistic strategies; these encompass floating-rate senior loans, unitranche loans, bank loans and participations, structured credit such as collateralized loan obligations, distressed securities, notes, debentures, commercial real estate mezzanine loans, real estate mortgages, convertible and preferred securities, and a liquidity sleeve of daily liquid investments. It predominantly invests in floating-rate instruments (targeting 96% allocation) to minimize interest rate duration risk, targets monthly distributions at a 10% annual rate of net asset value per share, and maintains conservative loan-to-value ratios for capital preservation. Managed by First Trust Capital Management L.P., headquartered at 225 W. Wacker Drive, Suite 2160, Chicago, Illinois, the Fund was incepted on May 6, 2022, and operates with a minimum investment of $1,000, no accreditation requirements, daily purchases, and limited quarterly repurchases of 5% to 25% of outstanding shares at net asset value. The Fund targets retail and institutional investors seeking high-yield, low-beta exposure uncorrelated to public fixed income markets, primarily in the U.S. private credit sector across diverse industries and borrowers. In recent developments, the Fund has maintained its targeted 10% distribution policy fully supported by investment income as of September 30, 2025, with portfolio allocations showing 37% in Specialty Direct Lending, 34% in Structured Credit, 22% in Opportunistic, and 7% in Asset-Based Lending as of June 30, 2025; it continues to emphasize senior positions amid substantial fundraising growth in private credit during 2024. As part of First Trust's broader platform, which includes affiliations with First Trust Portfolios L.P., the Fund benefits from ongoing strategic expansions in alternative investments, though no specific acquisitions, partnerships, or funding rounds for FTPCX were reported in 2024-2025.