BlackRock raises half of $4bn-targeting global credit opportunities fund, aiming to double size of predecessor – report | AltAssets Private Equity News
Summary
Never miss a story – click to sign up to AltAssets’ free daily PE newsletter BlackRock’s global private credit funds provide financing to borrowers that are shut out of traditional debt markets because of financial distress, size or other factors. The firm said the closing of Credit Fund II followed a record year of deployment for the platform in 2021, investing over $2bn into 39 portfolio companies. Global private equity giant Carlyle hit a $4.6bn hard cap close for its second credit opportunities fund, smashing its initial $3.5bn target. The new vehicle is almost double the size of Carlyle’s debut Credit Opportunities Fund closed in the summer of 2019, and gives the firm about $6bn of new investable capital including leverage. Private credit specialist Monroe Capital soared to a $2.3bn final close for its latest fundraise thanks to commitments from more than 300 investors.