BlackRock pivots to private credit ahead of potential ‘boom’

Posted by Anton Murray Consulting on 26 May, 2023


Asset management giant BlackRock has revised its investment strategy in the face of mounting recessionary fears and continued tumult in the US banking sector. The firm has revealed it would increase its exposure to private credit as the outlook for public credit shifts amid expectations of a looming credit crunch. “The banking tumult has reshaped opportunities for income — we now favour private over public credit on a strategic horizon of five years and longer,” BlackRock noted.

“We think private credit could help fill a void left by banks pulling back on some lending and offer potentially attractive yields to investors.” The global investment giant pointed to an increase in yields across direct lending, which could “compensate investors” for market risks in the near to medium term. “US high yield and investment grade (IG) credit yields have faded from highs, but we think they will rise eventually,” BlackRock added.

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