BlackRock holds final close of Diversified Private Debt Fund at £1.7bn

Jul 27, 2022 | News

BlackRock has held the final close of its Diversified Private Debt Fund (DPD) with a total capital raise of £1.7bn. 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.

This simplified governance structure combines bottom-up selection with top-down strategy allocation and the flexibility to capitalise 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 US and European Direct Lending, US and European Real Estate Debt, and Global Opportunistic strategies, which combined have over £30 billion of capital deployed across multiple vintages.

Get the week’s top news delivered directly to your inbox – Sign up for our newsletter

Sign up

The investment team is focused on building a cohesive portfolio that ensures complementary exposures and diversification benefits for clients. DPD has had a strong deployment pace with 60% invested across 164 investments to date and is on track to be fully deployed by early next year, well ahead of target.

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, they help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.

Source: Private Equity Wire

Can’t stop reading? Read more