BlackRock Dissolves Private Credit Partnership With Mubadala in Asia

BlackRock Inc. BLK and Mubadala Investment have jointly agreed to end their Asian private credit collaboration, which focused on investments in China and Indonesia, due to challenges in sourcing deals. This was reported by Bloomberg, citing people familiar with the matter.As part of the partnership launched in 2023, Mubadala had committed to matching every U.S. dollar that BlackRock invested. The partnership has allocated only a small portion of its capital so far, as deal origination in China has been challenging, with the targeted return profile being in the mid-teens range.Christopher Ganis, head of private credit in Indonesia, departed in the early days of the partnership, making deal origination in the country more challenging.Efforts by BLK to Boost Private Markets OfferingsBlackRock has been aiming to boost its private markets capabilities to generate higher returns. In March 2025, it acquired Preqin for $3.2 billion to enhance its private markets offerings. In December 2024, it agreed to acquire HPS Investment Partners to deepen its presence in the private credit market. In October 2024, the company acquired Global Infrastructure Partners to enhance its infrastructure offerings and origination capabilities.Additionally, in its investor presentation last month, BLK predicted that the private credit market could expand to $4.5 trillion by 2030, and hence it targeted $400 billion in private markets fundraising by that time. Recently, BLK got selected by Great Gray Trust Company, LLC to offer a retirement solution featuring private equity and credit exposure.BlackRock has also collaborated with Partners Group to combine a varied pool of private assets into a single portfolio of alternatives for retail clients.BLK’s Price Performance & Zacks RankOver the past year, BLK shares have gained 33%, outperforming the industry’s 20.7% growth.Image Source: Zacks Investment ResearchCurrently, BlackRock carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other Firms Expanding in the Private Credit MarketThis February, JPMorgan JPM announced an additional $50 billion allocation toward direct lending, solidifying its presence in the credit market. The move, unveiled at its 30th annual Global Leveraged Finance Conference, signals the company’s intent to become a dominant force in private credit.Since 2021, JPMorgan has deployed more than $10 billion across 100+ private credit transactions, leveraging its extensive client base and vast origination platform. The bank’s partnerships with multiple co-lenders have further strengthened its position, bringing in an additional $15 billion in capital. According to Kevin Foley, global head of Capital Markets at JPM, the company’s ability to integrate its origination platform with lender partners has significantly increased deal flow and lending capacity.In 2024, Citigroup C inked a deal with Apollo Global APO for its subsidiary and certain affiliates of Apollo to establish a revolutionary $25-billion private credit, direct lending program. The program will initially focus on North America, potentially expanding to additional geographies. Both Citigroup and Apollo expect the program to finance approximately $25 billion of debt opportunities over the next several years, including corporate and financial sponsor transactions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report Citigroup Inc. (C): Free Stock Analysis Report BlackRock (BLK): Free Stock Analysis Report Apollo Global Management Inc. (APO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks