Goldstone was referring to a type of business-development company, an investment vehicle widely used in the private-credit market.
The vehicle Condor allocated to is a slice of BlackRock's $81 billion private-credit business, which is part of the wider $317 billion alternative-assets platform.
'Size matters'In the summer, BlackRock executives teased out their focus on private credit and fixed income broadly during an investor-day presentation.
BlackRock's string of private-credit developments adds up to a long-term bet that this dynamic will continue.
"That, in essence, is the paradox of private credit."
Persons:
David Goldstone, Goldstone, BDC, it's, hasn't, Rowe Price, Franklin Templeton, Blackstone, Axel Springer, Greg Greifeld, Greifeld, Tim Clarke, Rob Kapito, We've, Jim Keenan, BDCs, Keenan, Clarke, PitchBook, they're, Larry Fink, " Fink, Merrill Lynch, BlackRock, Jared Gross, J.P, Phil Tseng, BlackRock's, Gross, Morgan
Organizations:
Condor Capital Wealth Management, Condor, BlackRock, BlackRock doesn't, Federal Reserve, Fidelity, Apollo, KKR, Growth, BlackRock TCP Capital Corp, BlackRock Capital Investment Corp, Kreos, Barclays, Tennenbaum Capital Partners, Morgan, who's
Locations:
New Jersey, BlackRock, PitchBook, Banks, London