The world’s largest asset manager is looking to raise about $4 billion for the latest vintage of its Global Credit Opportunities fund, as the market for private credit instruments swells to more than $1 trillion.
BlackRock has already raised about $2 billion — half of the targeted amount — for the new private credit fund, according to a person with knowledge of the matter, who asked not to be identified discussing private information.
Private credit funds are set to become the second-largest private capital asset class by 2023, trailing only behind private equity, according to research firm Preqin. By 2026, assets under management could reach $2.69 trillion, Preqin predicts.
Read more: BNN Bloomberg
