BlackRock Readies $1.3 Billion Private Credit Continuation Fund
- GP to transfer 300 first-lien loan positions into new fund
- Funds are looking at ways to provide liquidity to investors
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BlackRock Inc. is setting up a private credit loan fund that will allow it to raise as much as $1.3 billion it can distribute to existing investors, people with knowledge of the matter said.
BlackRock is putting portions of about 300 first-lien loan positions into the deal, slated to be among the largest ever transfers of private credit into a so-called continuation fund, the people said, who requested anonymity because the trade is private. It’s being arranged by Jefferies Financial Group Inc., the people said.