Fidelity Investments announced the final close of Fidelity Credit Opportunities Fund II LP at appr. $729 million, surpassing its target fundraise of over $500 million of committed capital and “more than doubling the 2020 fundraise of the first vintage.”
Fund II held its final closing on July 15, 2025, “driven by support from a broad investor base.”
Fidelity Credit Opportunities Fund II is “a long-only opportunistic credit fund, investing in a diverse opportunity set of stressed, distressed, and restructured debt or equity instruments.”
The focus is on the U.S. publicly traded, secondary corporate credit market.
This strategy mirrors that of the fund’s predecessor, Fidelity Distressed Opportunities Fund I, which has reportedly “achieved top-quartile performance, according to data from Preqin.”
Harley Lank co-manages Fund II alongside Nate Van Duzer and Bill Wall, both of whom are also “managing directors of Special Situations at Fidelity Investments.”
The portfolio management team averages “more than 25 years of experience in public and private markets.”
Fidelity draws on “investment experience in stressed, distressed, and restructured investments.”
Fidelity, through its asset management divisions, “manages a range of alternative investment (alts) vehicles, including private equity, private credit, real assets, liquid alternatives, and digital assets.”
Fidelity Investments’ alts lineup includes “more than 60 funds, comprised of funds for eligible investors and funds available to the firm’s investment team for portfolio construction, totaling more than $46 billion in assets under management.”
In addition, Fidelity is a provider of custodial services, “offering access to more than 6,000 alternative products and overseeing more than $95 billion in assets under administration on its alternative investments platform for institutional and intermediary clients.”
Fidelity’s mission is to strengthen “the financial well-being of our customers and deliver better outcomes for the clients and businesses they serve.”
Fidelity’s strength comes from the scale of their “diversified financial services businesses that serve individuals, families, employers, wealth management firms, and institutions.”
With assets under administration of $15.0 trillion, “including discretionary assets of $5.9 trillion as of March 31, 2025, they focus on meeting the needs of a broad customer base.”
Privately held for 78 years, Fidelity reportedly employs “more than 77,000 associates across the United States, Ireland, and India.”
