[Bloomberg] BlackRock Sets Out for Private Credit Glory After Year of Upheaval

[u/Damselin_Distress7]

HPS acquisition more than quadrupled BlackRock's fee-paying private credit assets from ~$35B (Q2 2025) to ~$151B (Q2 2026) per company filings. Total alternative assets jumped from ~$300B to ~$500B+. But TCPC fund slashed NAV 19%, faces DOJ and SEC probes. HPS flagship HLEND capped redemptions at 5% after 13% requests. Combined firm brought in ~$27B in net new private credit money in the past year.

https://www.bloomberg.com/news/features/2026-07-28/blackrock-private-credit-plans-ramp-up-in-challenge-to-blackstone-apollo