BlackRock raises €1.1bn

The global asset manager surpasses target for first European mid-market debt fund.

BlackRock‘s European Middle Market Private Debt Fund has held a final close at €1.1 billion, above the fund’s €750 million initial target. Complemented by several separate accounts, the total assets for the strategy account for €1.8 billion. The fund has already invested approximately 30 percent of its capital commitments since its first close, across eight investments.

BlackRock said the fund saw strong demand from institutional investors, with about 50 investors globally, including insurers, pension plans, foundations, endowments and family offices. Italian pension fund Prevaer committed €10 million to the fund in March 2017.