Formed in December 2021 as a Delaware statutory trust, BlackRock Private Credit Fund (“BDEBT” or “the company”) is an externally managed, closed-end, non-diversified business development company (“BDC”) headquartered in New York, NY. BDEBT has elected to be treated, and intends to qualify annually, as a regulated investment company (“RIC”) for federal tax purposes.
The company is externally managed by BlackRock Capital Investment Advisors, LLC (“Adviser”), a subsidiary of BlackRock, Inc. (NYSE: BLK), a global investment.
As a perpetual-life continuously offered non-traded BDC with no planned liquidity event, the company raises capital on a continuous basis from retail as well as institutional investors. The company provides the potential for shareholder liquidity through quarterly tenders of up to 5% of outstanding shares, subject to approval by the Board of Trustees.
Key Credit Considerations
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