With companies increasingly looking to tap the private credit markets for financing, BlackRock, the world’s largest asset management company, is aiming to maintain double-digit growth in its corporate lending business, according to a report by Asia Nikkei.
The report quotes James Keenan, the firm’s Chief Investment Officer and Global Head of Private Debt, as saying in an interview that BlackRock’s private credit assets under management totalled approximately $80bn as of the end of June, and have been “growing in the midteen level and above the market”.
According to projections by London-based research firm Preqin, global private credit assets under management will reach $2.3tn by the end of 2027, growing at an average annual rate of 10.8%.
“What we are trying to accomplish is above the market,” said Keenan.
