BlackRock (BLK) is facing a federal investigation into valuation practices at its publicly traded TCP Capital private-credit fund, multiple news outlet reported Friday, citing unnamed people familiar with the matter.
According to the reports, the Manhattan US attorney's office is probing how the fund valued parts of its loan portfolio before it disclosed a 19% drop in net asset value in January.
BlackRock did not immediately respond to MT Newswires' request for comment.
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