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 continuously offered perpetual-life 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 manager with $15.3 trillion in AUM as of June 30, 2026.
As a perpetual-life continuously offered non-traded BDC with no planned liquidity event, the company raises capital on a continuous basis and offers to repurchase shares quarterly of up to 5% of outstanding shares, subject to approval by the Board of Trustees.
Key Credit Considerations
The ratings are supported by BDEBT’s…
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