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BlackRock Alumni Want to Shake Up World of Junk-Debt Investing

  • BondBloxx plans 7 ETFs carving high-yield credit into sectors
  • Firm is looking to bring more precision to fixed-income

A group of former BlackRock Inc. players is tapping into booming demand for credit ETFs with products targeting specific industry sectors -- bringing a new level of precision to fixed-income investing.

Launching on Thursday, BondBloxx Investment Management LLC plans to create seven exchange-traded funds carving up the U.S. high-yield debt market. That’s a common practice in equities, but rare in corporate bonds.