Investing
BlackRock Debuts Retail Private Credit Fund at Tricky Time
- Economists warn of a recession this year or next year
- Weakness in the US economy could spur private-credit defaults
BlackRock headquarters in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
BlackRock Inc. is embarking on a crucial test of its ability to muscle into one of Wall Street’s most competitive growth areas — pitching private assets to small investors.
The world’s largest money manager began rolling out the BlackRock Private Credit Fund this month, targeting mom-and-pop investors while vowing to keep “an eye on risk.” The fund, dubbed BDEBT, primarily makes floating-rate loans to middle-market, private US companies, an area that’s expected to grow as banks rein in lending.