![]() Falling valuations for startups means they've had to turn to debt providers. Within private credit, venture debt is a growing area. "Current market dynamics have made private credit an attractive asset class as investors focus on its income generation, low volatility, portfolio diversification, and its low defaults versus public markets." "Private debt investing has become an increasingly important component of investors' portfolios," Stephan Caron, head of private debt for Europe, the Middle East, and Asia at BlackRock, said. Investors have been keen on the asset class, as it promises big returns as interest rates rise. Private credit has grown tremendously as traditional banks pull away from loaning to small and risky companies. ![]() One area that BlackRock has been focused on ramping up has been its $320 billion alternatives business, especially private credit. The move comes after BlackRock signaled it was looking for opportunities to grow through acquisitions during its first-quarter earnings call. The firm declined to disclose the terms of the deal. $9.1 trillion BlackRock is buying London-based Kreos Capital, a growth and venture debt specialist, and taking on its 45 employees, according to a press release. The world's largest asset manager is set to buy a lender to European technology and healthcare companies to boost its private credit business. BlackRock CEO Larry Fink has signaled BlackRock's appetite to do deals right now.The purchase will boost the money manager's offerings in the booming private credit space.BlackRock is buying London-based growth and venture debt specialist Kreos Capital.Account icon An icon in the shape of a person's head and shoulders.
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