BlackRock Stumbles in Asia Private Credit Push, Forcing Rethink

BlackRock Inc., the world’s largest asset manager, had big ambitions for Asia’s private credit market.

Its goal was to raise over $2 billion for its Asia Pacific-focused private credit strategies and generate low-to-mid-teens returns for investors, while keeping management fees competitive, according to people familiar with the matter, who asked not to be identified discussing private information.