BlackRock Sees Private Credit Tumult as Way to Take Market Share

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Chief Executive Officer Larry Fink sees increased demand for private credit from big institutional investors like insurers, even as retail clients grow skittish over the asset class and seek to redeem more of their shares.“There’s been a lot of attention on private credit, but the headlines do not reflect what clients are telling us, what our portfolio data shows or where we see the market going,” Fink said Tuesday after the asset manager reported financial results buoyed by fee growth. “Actually, institutional demand is accelerating.”