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Alternative Market Briefing

BlackRock raises $2.07bn for diversified private debt fund

Thursday, July 28, 2022

Laxman Pai, Opalesque Asia:

American multinational investment management corporation BlackRock Inc. has raised a total of £1.7 billion ($2.07 billion) from UK pension plans to invest in a private debt fund.

Unlike most private funds that focus on a single strategy, BlackRock's Diversified Private Debt (DPD) Fund will provide its limited partners access to BlackRock's global opportunistic strategy, as well as its European and US direct lending and real estate franchises, the firm said in a media release.

The firm said private debt continues to offer the potential for attractive returns, stable income, and diversification benefits for investors seeking portfolio resilience during periods of higher market volatility and inflation.

DPD was developed in partnership with UK consultants to provide exposure to a diversified mix of standalone, scaled private debt strategies through a single solution, said the release. This simplified governance structure combines bottom-up selection with top-down strategy allocation and the flexibility to capitalize on market dynamics.

Managed by James Keenan, CIO and Global Head of Credit, the Fund leverages BlackRock's 20+ years in Private Debt to invest across the U.S. and European Direct Lending, the U.S. and European Real Estate Debt, and Global Opportunistic strategies, which combined have over £30 billion of capital deployed across multiple vintages.

According to the release, the investment team is focused on building a c......................

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