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PC · PRIVATE CREDIT

BlackRock Private Credit Fund

BlackRock · Non-traded perpetual-life BDC (private credit)

Program Overview

Non-traded perpetual-life BDC (private credit)
BlackRock Private Credit Fund
Peer Group Filters
Objectives
IncomeDiversificationTotal Return
Asset Class
Private Credit
Vehicle
BDC
Single / Multi Asset
Multi-Asset
Sponsor/Manager
Asset Class
Private Credit
Issuer
BlackRock Private Credit Fund
Issuer Legal Structure
Delaware Statutory Trust
Program Life Structure
Perpetual
Target Leverage
Minimum 150% asset coverage 150% coverage elected Mar 2022. At 12/31/25: debt $836.1M (33.2% of total assets), asset coverage 286%, avg cost of funds 5.9%. Debt sits in a financing subsidiary (PNC facility) and at the Fund (SMBC and SG revolvers, private notes).
Strategy Risk/Return Profile
-
Managing Broker-Dealer
Scale
65,319,351 Institutional shares outstanding · 5,032,831 Class S shares outstanding · 96,495 Class D shares outstanding · 1,149 Institutional shares record holders · 1,044 Class S shares record holders · 90 Class D shares record holders · 268 Portfolio companies · 271 Portfolio companies
Maximum Offering
$7,500,000,000
Minimum Investment
$2,500
Class S Common Shares · waivable
Strategy Overview

The prospectus states the Fund targets high risk-adjusted returns produced primarily from current income, by investing primarily in directly originated senior secured corporate debt of privately held North America-based middle market companies with target enterprise values of $100 million to $1.5 billion. It targets first lien, second lien and unitranche debt with a preference for floating rate, and may also hold broadly syndicated loans, other credit and, to a lesser extent, equity. At least 80% of total assets are to be in private credit investments. It uses leverage. A liquid sleeve is managed by the Sub-Adviser.

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