"It's time for new management at BPRE. Read about the dumpsterš„ of their own making at fireBLUEROCK.com," Saba Founder Boaz Weinstein wrote on X.
The partnership will also develop products for wealth investors, beginning with an evergreen private equity secondaries fund expected in the coming weeks.
The former Sixth Street Senior Advisor will oversee portfolio construction for the firm's solutions, including credit secondaries and direct credit.
The equity commitments were raised across an evergreen fund, a closed-end venture debt fund, and a rated note offering.
The ETF provider has hired Alessio de Longis to head its new Active Investments platform and Hyuk Soo Han to help lead its private equity secondaries efforts.
Managing Director Jason Mehring will replace Tseng as Director, Board Chair, and CEO across three BlackRock BDCs.
