BlackRock private credit fund’s valuations are probed by DOJ |
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........