BlackRock Launches Private Debt Fund for Pension Schemes at First Close of $940m

BlackRock has launched a private debt fund specifically designed for UK pension schemes to access a variety of global private debt market exposures via a single strategy. The BlackRock Diversified Private Debt Fund is set to provide investors with a yield premium relative to liquid credit markets has held a successful first close with $940m in commitments.

“We are delighted to be able to offer a flexible solution designed in a way that is well placed to take advantage of the evolving landscape, across different market cycles for UK pension clients, said managing director and head of EMEA consultant relations group Anne Parthiot-Mons.

“The fund’s differentiated approach aims to provide a yield premium, a reliable income stream and capital preservation through one single pooled fund with a simplified governance structure.”

It will be managed by managing director, chief investment officer and global co-head of credit James Keenan and aims to source “high-quality assets in the market with strong fundamentals and defensive characteristics” across US and EMEA direct lending, real asset debt and opportunistic strategies, which have £28bn capital deployed across private debt strategies.

“Our investment process leverages the expertise and local market insights of a dedicated global investment team,” Keenan said. “Managed to seek a reliable yield premium, this fund can provide a simplified entry point and reduced complexity.”

This comes after BlackRock launched the Authorised Contractual Scheme World ESG Insights Equity Fund on 28 April, designed to simplify ESG investing through the focus on factors demonstrating materiality.

Source: Professional Pensions