BlackRock Eyes $3 Billion For New Credit Fund

Dec 20 2013 | 12:21pm ET

The world's biggest money manager is planning what could be next year's biggest hedge fund launch.

BlackRock has begun fundraising for its new Credit Alpha Fund, with an initial target of $500 million, Bloomberg News reports. But the firm hopes to eventually garner as much as $3 billion for the vehicle—and could increase its launch size.

The new global long/short fund will be led by BlackRock's head of Americas credit, James Keenan, as chief investment officer. David Trucano will be the new fund's manager.

According to Bloomberg, the Credit Alpha Fund will seek valuation anomalies and mispricings.

BlackRock, which has $4.1 trillion in assets under management—including $103.4 billion in alternatives—began marketing the new fund in October.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note