Article
BlackRock Private Credit Fund Cuts Asset Values By 5%, As Golub Gates After 8.5% Redemptions
BlackRock Private Credit Fund Cuts Asset Values By 5%, As Golub Gates After 8.5% Redemptions
Just another day in private credit paradise... er, hell.
One day after Gundlach repeated his warning that the private credit crisis will end in tears for bagholders, Blackrock cut the value of its publicly-traded private credit fund by about 5%, as it - like most of its peers - struggled under the weight of troubled loans, markdowns and lower returns.
BlackRock TCP Capital Corp., a publicly traded middle-market lending fund, said markdowns totaled $35 million in the quarter...
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The head of Berkshire may be new, but nothing has changed in the business model.
In Berkshire's first quarter Greg under Abel, who succeeded Buffett in January as Berkshire's chief executive, the company on Saturday reported a higher first-quarter operating profit even as economic uncertainty weighed on several of its consumer-oriented businesses. The Omaha, Nebraska-based conglomerate built by Warren Buffett and now led by Greg Abel also reported a record cash level, reflecting continuing difficulty finding investments...
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