The Manhattan U.S. Attorney’s Office has requested information, and executives have been questioned in an investigation regarding BlackRock’s (NYSE:BLK) private credit fund.
Federal prosecutors are looking into TCP Capital Corp (NASDAQ:TCPC), BlackRock’s publicly traded business development company (BDC) valuation practices following markdowns on certain assets, Bloomberg reported.
In January, TCPC announced an estimated 19% decline in Net Asset Value (NAV), largely tied to portfolio restructurings primarily around e-commerce stocks and the bankrupt Renovo Home Partners, Seeking Alpha reported at the time. Following the announcement, shares of the stock dropped over 14%.
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