Business & Finance
BlackRock’s Tseng to Exit as CEO of Troubled Private Credit Fund
Key Points
BlackRock’s Tseng to Exit as CEO of Troubled Private Credit Fund The head of BlackRock Inc.’s beleaguered private credit fund is in the process of leaving the firm, a move that follows months of losses on soured loans and revelations of a US regulatory probe into the unit’s valuation practices. Phil Tseng, chief executive officer of the publicly-traded BlackRock TCP Capital Corp., remains an employee of the world’s largest asset manager for now, according to people familiar with the matter.
BlackRock’s Tseng to Exit as CEO of Troubled Private Credit Fund
The head of BlackRock Inc.’s beleaguered private credit fund is in the process of leaving the firm, a move that follows months of losses on soured loans and revelations of a US regulatory probe into the unit’s valuation practices.
Phil Tseng, chief executive officer of the publicly-traded BlackRock TCP Capital Corp., remains an employee of the world’s largest asset manager for now, according to people familiar with the matter. It’s unclear when he’ll depart and plans haven’t been finalized, the people said, asking not to be identified discussing non-public information.