BlackRock private credit fund’s valuations are probed by DOJ
Federal prosecutors are investigating the valuation practices of BlackRock's private credit fund, TCP Capital Corp. The inquiry involves questioning executives and examining how the firm values its private assets. Concerns have been raised about potential mismarking to generate fees, which could impact investor confidence and the fund's performance.
- ▪The Manhattan US Attorney's office is seeking information about BlackRock TCP Capital Corp.
- ▪Executives have been questioned as part of the investigation into the fund's valuation practices.
- ▪The fund's shares have dropped 24% this year amid concerns over lending standards in the private credit industry.
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Federal prosecutors are scrutinizing valuation practices at a BlackRock Inc. private credit fund, according to people with knowledge of the matter.Recommended Video The Manhattan US Attorney’s office in recent months has been seeking information about BlackRock TCP Capital Corp., a publicly traded business development company, said the people, who asked not to be identified discussing a private matter. Executives have been questioned as part of the probe, one of the people said. A representative for BlackRock declined to comment. A spokesperson for the Southern District of New York didn’t respond to a request for comment.
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