Managing Director Jason Mehring will replace Tseng as Director, Board Chair, and CEO across three BlackRock BDCs.
The former Sixth Street Senior Advisor will oversee portfolio construction for the firm's solutions, including credit secondaries and direct credit.
The non-traded BDC completed another private placement offering, with proceeds earmarked to repay existing debt, including its 3.125% notes due later this month.
The $25 billion HPS Corporate Lending Fund has once again limited withdrawals after repurchase requests hit ~11.5% of outstanding shares.
Shareholders submitted an estimated $4.3 billion of Q3 repurchase requests, representing around 10% of shares outstanding, as of June.
Jonathan Bock has stepped down as Co-CEO of Blackstone Private Credit Fund, less than a month after its COO resigned.
Mark Goldberg of Alternative Investments Market Intelligence analyzes why redemption queues across non-traded BDCs could take years to clear despite easing withdrawal demand.
The $2.6 billion BDEBT, which had around $1.4 billion in liquidity in April, will repurchase approximately $83 million of shares.
The firm recently restricted redemptions in its $26 billion non-traded BDC, HPS Corporate Lending Fund (HLEND).
The Kirkland & Ellis and Proskauer alum brings regulatory experience that looks to strengthen the firm's permanent capital and private credit practice.
