BlackRock Fund Faces Test in Recovering Defaulted China Loan

BlackRock Inc. is trying to recoup money it’s owed on a private credit loan in China, setting up a test for how Asia’s burgeoning reputation as a comparatively safer market for such deals will play out in reality.

After a unit of Chinese cold-chain logistics provider Metcold defaulted on a $27.5 million portion of a BlackRock loan in early April, the US investment giant has been looking to enforce a personal guarantee from Henry Ha, Metcold’s founder and CEO, people familiar with the matter said, requesting anonymity discussing private matters.