BlackRock Credit Strategies Fund
CREDX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- John M. Perlowski
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Wilmington United States of America
- IPO Date
- Apr 17, 2023
- Website
- blackrock.com
- Similar Companies
- Business
- BlackRock Credit Strategies Fund (CREDX) is an unlisted closed-end management investment company operated as an interval fund that seeks high income and attractive risk-adjusted returns by investing at least 80% of its Managed Assets in fixed-income securities, with an emphasis on public and private corporate credit across multiple sectors and strategies. The Fund offers four primary share classes, including Institutional Shares (CREDX), Class A Shares (CRDAX), Class U Shares (CRDUX), and Class W Shares (CRDWX); it provides daily subscriptions at net asset value, monthly distributions, quarterly repurchase offers of 5% to 25% of outstanding shares, and 1099 tax reporting without performance fees. Its core investment strategies include private credit (target 40-65% allocation, comprising U.S. direct lending in first lien senior-secured loans to middle-market companies, asset-based lending, growth lending, and specialty finance); opportunistic credit (20-35%, focusing on special situations with event-driven catalysts, stressed and distressed debt, and relative value plays); structured credit (5-15%, including CLO tranches across the capital stack and private placements with credit enhancements); and tactical credit (10-15%, high-conviction liquid credit opportunities). Headquartered in New York and managed by BlackRock Advisors, LLC as part of BlackRock's Global Credit group with sub-advisory support from BlackRock Capital Investment Advisors, LLC, the Fund was incepted on February 28, 2019, and leverages BlackRock's $64 billion private debt platform, 170+ investment professionals, and extensive deal sourcing across public leveraged finance and private debt. It primarily targets long-term investors seeking alternative credit exposure beyond traditional fixed income, with geographic focus on U.S. markets but opportunistic investments in global credit instruments; the Fund may employ up to 33⅓% leverage on Managed Assets and maintains a diversified portfolio with top holdings such as Mohegan Gaming & Entertainment, Echostar Corp, and Diversified Healthcare Trust. In a major strategic development, BlackRock announced the acquisition of HPS Investment Partners in December 2024 for approximately $12 billion in stock, completed in mid-2025, which bolsters the Fund's private credit capabilities by integrating HPS's expertise in direct lending, asset-based finance, real estate, private placements, and CLOs, creating a combined private credit franchise with $220 billion in client assets and enhancing fee-paying AUM and management fees by 40% and 35%, respectively. This follows BlackRock's 2024 acquisitions of Preqin and Global Infrastructure Partners, positioning the Fund to deliver integrated public-private income solutions amid growing private debt markets projected to reach $4.5 trillion by 2030. The transaction aligns with the Fund's multi-strategy approach, enabling dynamic pivots across the credit spectrum for amplified yields, with over 60% of the portfolio yielding 9% or more as of June 2025.