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
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.