Tags: BlackRock | hedge | fund | credit

BlackRock Said to Seek $3 Billion for Global Credit Hedge Fund

Thursday, 19 Dec 2013 02:02 PM

BlackRock Inc., the world’s biggest money manager, is raising as much as $3 billion for a hedge fund to invest in credit globally, according to two people with knowledge of the pool.

The firm began marketing BlackRock Credit Alpha Fund in October, with an initial target of $500 million and the potential to increase it, said one of the people, who asked not to be identified because the process isn’t completed. The long-short fund seeks to capture valuation anomalies and mispricings, the person said.

Tara McDonnell, a spokeswoman for BlackRock, declined to comment on the new fund.

The New York-based firm, led by Chief Executive Officer Laurence Fink, had about $4.1 trillion of assets under management at the end of September, according to an earnings statement on Oct. 16.

James Keenan, BlackRock’s head of Americas credit, will be the chief investment officer of the new fund, which will be managed by David Trucano, said the person.

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BlackRock Inc., the world's biggest money manager, is raising as much as $3 billion for a hedge fund to invest in credit globally, according to two people with knowledge of the pool.
BlackRock,hedge,fund,credit
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2013-02-19
Thursday, 19 Dec 2013 02:02 PM
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