After having raised only $500 million in the past two years, Fidelity Equity Partners, a private equity subsidiary, will be closed next month.
Debt financing has become exceptionally hard to obtain, Fidelity spokeswoman Anne Crowley told Reuters.
Nonetheless, Fidelity will retain the four equity stakes that Fidelity Equity Partners made, including in two financial data management companies, an imaging solutions company and an oil and gas equipment company.
The unit has offices in the U.S. and London and employs 14.
Separately, Fidelitys venture capital company, Fidelity Ventures, will continue doing business. This group remains active and is seeking new investments, Crowley said.