BlackRock’s private credit fund received redemption requests totaling 13.3% of its assets in the first quarter. The vehicle holds $25 billion in total assets. BlackRock will repurchase 5% of the fund to manage these liquidity demands.
New York City launched a competitive review for $92 billion in city pension index funds. BlackRock currently manages approximately $65 billion of these assets. The firm must rebid for the mandate following past criticism from the former city comptroller regarding climate-related investment goals.