BlackRock private credit fund’s valuations are probed by DOJ

Federal prosecutors are scrutinizing valuation practices at a BlackRock Inc. private credit fund, according to people with knowledge of the matter.

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.

Jay Clayton, who runs the SDNY, said in November he was concerned about how firms value private assets — and that “people should know that the financial regulators and the department........

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