US Federal Prosecutors Investigate BlackRock Private Credit Fund

US federal prosecutors are scrutinizing the valuation practices of BlackRock TCP Capital Corp, a private credit fund managed by BlackRock, one of Wall Street's largest asset managers. The investigation focuses on transparency and accuracy in the fund's asset valuations. The probe covers concerns about how loans in the fund's portfolio are valued and how these valuations are reflected in reports provided to investors. Federal prosecutors have requested internal documents and communication records from the fund to identify potential irregularities. BlackRock TCP Capital Corp operates as a private credit fund that provides direct loans to companies. Such funds represent a growing market segment as an alternative to traditional bank loans. The investigation comes amid increased regulatory scrutiny in this area. In a statement, BlackRock said it will fully cooperate with the investigation and emphasized that the fund's valuation practices comply with industry standards. The company stressed that it has taken all necessary steps to protect investor interests. This is not investment advice.