🇺🇸 SECBlackRock Private Credit FundCodex · 实盘不做把握 8/10不做原因:无增量信息
北京时间·🕒 发布 20:00:52·⟳ 抓取 20:01:39 +47s·⚡ 决策 09-04 21:49:57 +1h48m·52.8 天前
BlackRock Private Credit Fund披露CEO兼董事会主席离任并由内部高管接任
这是法定8-K披露的人事交接,且公告直接说明不存在分歧、继任者为内部资深团队成员;未出现控制权、投资策略、资产质量、分红、财务指引或监管风险变化,缺乏方向明确的交易催化。
📄 原文BlackRock Private Credit Fund↗ 原文
----- ef20081610_8k.htm ----- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT…
不做 BlackRock TCP Capital Corp.(TCPC.US)
同平台人事变动虽覆盖TCPC.US,但公告显示内部平稳交接且无分歧,未构成强空催化,也没有分红、NAV、资产质量或指引层面的新增可交易事实。
不做 BlackRock, Inc.(BLK.US)
事件相对BlackRock集团体量和业务分散度过小,且没有经营或财务增量,缺乏多空edge。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
SEC 8-K显示核心事实是Philip Tseng离任并由Jason Mehring、Dan Worrell等内部管理层承接职责。注册人本身无挂牌证券;可映射的TCPC.US也只是同平台管理层过渡,公告未披露争议、经营损害或资本回报变化。因此该事件更像治理行政更新,不构成可执行多空机会。
🔎 新鲜度:最早出现 2026-09-04 · 扩散 low · price-in 风险 medium ↗
关键理由
- 公告明确离任并非源于分歧,削弱了将其解读为公司级治理或投资流程风险的基础。
- 继任者均为BlackRock内部资深私募信贷团队成员,事件未改变可量化的收入、NAV、分红或资产质量预期。
- BlackRock Private Credit Fund本身无12(b)挂牌证券,TCPC.US和BLK.US的映射影响均不足以形成正期望交易。
主要风险
- 若后续披露显示核心投资人员继续流失、投资委员会变化或资产质量压力,本次中性判断需要重评。
- BDC类标的对分红、信用损失和NAV更敏感,单纯高管交接不足以替代这些基本面变量。
先例如何影响了这次决策
对本次决策的影响:先例不足未改变结论;决定性因素是无分歧、内部继任、无挂牌直接证券和无可量化基本面增量。
方向:未使用历史先例;本事件在源文本层面已足以判断为低价格敏感度的内部管理层交接。
涨幅量级:没有可用于校准涨跌幅的高相似先例,且最终不进入交易。
形态:未发现需要用先例确认的可交易模式。
原文全文
展开原文 · 8,507 字
----- ef20081610_8k.htm -----
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 31, 2026
BLACKROCK PRIVATE CREDIT FUND
(Exact name of registrant as specified in its charter)
Delaware
814-01485
87-4655020
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
50 Hudson Yards
New York
,
New York
10001
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including area code
(
212
)
810-5800
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on
which registered
None
Not applicable
Not applicable
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☒
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Philip Tseng as Trustee, Board Chair, Chief Executive Officer and Co-Chief Investment Officer of the Company
On August 31, 2026, Philip Tseng resigned from his positions as a Trustee, Chair of the Board of Trustees (the “Board”), Chief Executive
Officer (“CEO”), and Co-Chief Investment Officer of BlackRock Private Credit Fund (the “Company”), BlackRock Direct Lending Corp. (“BDLC”) and BlackRock TCP Capital Corp. (“TCPC”), each effective as of the close of business on August 31, 2026, to
pursue other business opportunities outside of BlackRock, Inc., and entered into an agreement regarding the terms and timing of his separation from BlackRock, Inc. Mr. Tseng’s resignation is not the result of any disagreement with the Company, BDLC,
TCPC, or with BlackRock, Inc. Mr. Tseng will continue to serve as an employee of BlackRock, Inc. until October 1, 2026 in order to ensure the smooth transition of his responsibilities.
Appointment of Jason Mehring as Trustee, Board Chair, and Chief Executive Officer of the Company
On September 2, 2026, the Board appointed Jason Mehring as a Trustee,
Chair of the Board, and CEO of the Company, with the appointments each effective as of September 2, 2026. Mr. Mehring will serve in these positions until his resignation or removal by the Board. Mr. Mehring was also appointed to serve as a
Director, Chair
of the Board, and CEO of
BDLC and TCPC
, each effective
as of September 2, 2026
.
Mr. Mehring, born in 1971, is a Managing Director of BlackRock, Inc. Mr. Mehring was the President of the Company,
BDLC and TCPC
from November 6, 2024 until September 2, 2026. Mr. Mehring is a senior member of the investment team within BlackRock’s Private Financing Solutions (PFS) platform where he is a leader in
BlackRock’s U.S. core middle market direct lending strategy. In this capacity, Mr. Mehring is responsible for the oversight of the strategy’s investment process and plays a leadership role in the evaluation, structuring, and execution of private
secured investments in U.S. core middle market companies. Mr. Mehring has over 30 years’ experience in middle market investing including his 20 years’ experience with the BlackRock team, which he joined as a Managing Director in 2005. Mr. Mehring
previously spent more than ten years at Banc of America Capital Investors (BACI), an affiliate of Bank of America, Inc., in Chicago, where he held positions of increasing responsibility, becoming a Principal of the firm in 2000. At BACI, Mr. Mehring
focused on mezzanine and private equity investing in middle market companies. Prior to joining BACI in 1994, he worked at Firstar Bank, a predecessor to U.S. Bank. Mr. Mehring holds an M.B.A. from the Kellogg School of Management at Northwestern
University and a B.B.A., summa cum laude, in Finance and Economics from the University of Wisconsin Eau Claire (graduating with University Honors).
There are no family relationships between Mr. Mehring and any trustee or executive officer of the Company, and he is not a party to any transaction that
is required to be reported pursuant to Item 404(a) of Regulation S-K.
Appointment of Dan Worrell as President of the Company
Effective as of September 2, 2026, the Board appointed Dan Worrell to the position of President of the Company, moving from his previous
position of Co-Chief Investment Officer. Mr. Worrell was also appointed to the position of President, from his previous position of Co-Chief Investment Officer, for each of BDLC and TCPC, each effective as of September 2, 2026.
Mr. Worrell, born in 1963, is a Managing Director of BlackRock, Inc. Mr. Worrell served as the
Co-Chief Investment Officer
of the Company,
BDLC and TCPC
from November 6, 2024 until September 2, 2026. Mr. Worrell is a senior member of the
investment team within BlackRock’s Private Financing Solutions (PFS) platform, where he is a leader in BlackRock’s U.S. core middle market direct lending strategy. In this capacity, Mr. Worrell is responsible for oversight of the strategy’s portfolio
management process and plays a leadership role in the evaluation, structuring, and execution of private secured investments in U.S. core middle market companies. Prior to joining BlackRock, Mr. Worrell was a Managing Director at Tennenbaum Capital
Partners, LLC, where he led investment activity across several industry verticals, including Healthcare, Consumer Brands, Retail, and Consumer and Specialty Finance. Prior to Tennenbaum Capital Partners, LLC, Mr. Worrell was a High Yield Portfolio
Manager with Mulholland Capital Advisors. Mr. Worrell holds an M.B.A. from Columbia University and a B.S. from California State University, Northridge.
There are no family relationships between Mr. Worrell and any trustee or executive officer of the Company, and he is not a party to any transaction that
is required to be reported pursuant to Item 404(a) of Regulation S-K.
Item 8.01
Other Events.
As a result of the various appointments referenced herein, effective as of September 2, 2026, the officers of the Company are as follows:
Name
Position(s) Held with Company
Jason Mehring
Chair of the Board, Chief Executive Officer
Dan Worrell
President
Patrick Wolfe
Chief Operating Officer
Erik L. Cuellar
Chief Financial Officer, Treasurer
Charles C. S. Park
Chief Compliance Officer
Diana Huffman
General Counsel, Secretary
In addition, BlackRock Capital Investment Advisors, LLC (the “Advisor”) has an investment process organized around the Advisor’s
investment committee for the Company’s portfolio (the “Investment Committee”) that provides for a centralized, repeatable decision process. The number of voting and non-voting members of the Investment Committee is subject to increase or decrease in
the sole discretion of the Advisor.
Effective as of the close of business on August 31, 2026, Philip Tseng is no longer a voting member of the Investment Committee. Jason
Mehring, Dan Worrell, Vikas Keswani, Michael Fenstermacher, and Grishma Parekh continue to serve as voting members of the Investment Committee.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BLACKROCK PRIVATE CREDIT FUND
Date: September 4, 2026
By:
/s/ Diana Huffman
Name: Diana Huffman
Title: General Counsel and Secretary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 31, 2026
BLACKROCK PRIVATE CREDIT FUND
(Exact name of registrant as specified in its charter)
Delaware
814-01485
87-4655020
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
50 Hudson Yards
New York
,
New York
10001
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including area code
(
212
)
810-5800
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on
which registered
None
Not applicable
Not applicable
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☒
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Philip Tseng as Trustee, Board Chair, Chief Executive Officer and Co-Chief Investment Officer of the Company
On August 31, 2026, Philip Tseng resigned from his positions as a Trustee, Chair of the Board of Trustees (the “Board”), Chief Executive
Officer (“CEO”), and Co-Chief Investment Officer of BlackRock Private Credit Fund (the “Company”), BlackRock Direct Lending Corp. (“BDLC”) and BlackRock TCP Capital Corp. (“TCPC”), each effective as of the close of business on August 31, 2026, to
pursue other business opportunities outside of BlackRock, Inc., and entered into an agreement regarding the terms and timing of his separation from BlackRock, Inc. Mr. Tseng’s resignation is not the result of any disagreement with the Company, BDLC,
TCPC, or with BlackRock, Inc. Mr. Tseng will continue to serve as an employee of BlackRock, Inc. until October 1, 2026 in order to ensure the smooth transition of his responsibilities.
Appointment of Jason Mehring as Trustee, Board Chair, and Chief Executive Officer of the Company
On September 2, 2026, the Board appointed Jason Mehring as a Trustee,
Chair of the Board, and CEO of the Company, with the appointments each effective as of September 2, 2026. Mr. Mehring will serve in these positions until his resignation or removal by the Board. Mr. Mehring was also appointed to serve as a
Director, Chair
of the Board, and CEO of
BDLC and TCPC
, each effective
as of September 2, 2026
.
Mr. Mehring, born in 1971, is a Managing Director of BlackRock, Inc. Mr. Mehring was the President of the Company,
BDLC and TCPC
from November 6, 2024 until September 2, 2026. Mr. Mehring is a senior member of the investment team within BlackRock’s Private Financing Solutions (PFS) platform where he is a leader in
BlackRock’s U.S. core middle market direct lending strategy. In this capacity, Mr. Mehring is responsible for the oversight of the strategy’s investment process and plays a leadership role in the evaluation, structuring, and execution of private
secured investments in U.S. core middle market companies. Mr. Mehring has over 30 years’ experience in middle market investing including his 20 years’ experience with the BlackRock team, which he joined as a Managing Director in 2005. Mr. Mehring
previously spent more than ten years at Banc of America Capital Investors (BACI), an affiliate of Bank of America, Inc., in Chicago, where he held positions of increasing responsibility, becoming a Principal of the firm in 2000. At BACI, Mr. Mehring
focused on mezzanine and private equity investing in middle market companies. Prior to joining BACI in 1994, he worked at Firstar Bank, a predecessor to U.S. Bank. Mr. Mehring holds an M.B.A. from the Kellogg School of Management at Northwestern
University and a B.B.A., summa cum laude, in Finance and Economics from the University of Wisconsin Eau Claire (graduating with University Honors).
There are no family relationships between Mr. Mehring and any trustee or executive officer of the Company, and he is not a party to any transaction that
is required to be reported pursuant to Item 404(a) of Regulation S-K.
Appointment of Dan Worrell as President of the Company
Effective as of September 2, 2026, the Board appointed Dan Worrell to the position of President of the Company, moving from his previous
position of Co-Chief Investment Officer. Mr. Worrell was also appointed to the position of President, from his previous position of Co-Chief Investment Officer, for each of BDLC and TCPC, each effective as of September 2, 2026.
Mr. Worrell, born in 1963, is a Managing Director of BlackRock, Inc. Mr. Worrell served as the
Co-Chief Investment Officer
of the Company,
BDLC and TCPC
from November 6, 2024 until September 2, 2026. Mr. Worrell is a senior member of the
investment team within BlackRock’s Private Financing Solutions (PFS) platform, where he is a leader in BlackRock’s U.S. core middle market direct lending strategy. In this capacity, Mr. Worrell is responsible for oversight of the strategy’s portfolio
management process and plays a leadership role in the evaluation, structuring, and execution of private secured investments in U.S. core middle market companies. Prior to joining BlackRock, Mr. Worrell was a Managing Director at Tennenbaum Capital
Partners, LLC, where he led investment activity across several industry verticals, including Healthcare, Consumer Brands, Retail, and Consumer and Specialty Finance. Prior to Tennenbaum Capital Partners, LLC, Mr. Worrell was a High Yield Portfolio
Manager with Mulholland Capital Advisors. Mr. Worrell holds an M.B.A. from Columbia University and a B.S. from California State University, Northridge.
There are no family relationships between Mr. Worrell and any trustee or executive officer of the Company, and he is not a party to any transaction that
is required to be reported pursuant to Item 404(a) of Regulation S-K.
Item 8.01
Other Events.
As a result of the various appointments referenced herein, effective as of September 2, 2026, the officers of the Company are as follows:
Name
Position(s) Held with Company
Jason Mehring
Chair of the Board, Chief Executive Officer
Dan Worrell
President
Patrick Wolfe
Chief Operating Officer
Erik L. Cuellar
Chief Financial Officer, Treasurer
Charles C. S. Park
Chief Compliance Officer
Diana Huffman
General Counsel, Secretary
In addition, BlackRock Capital Investment Advisors, LLC (the “Advisor”) has an investment process organized around the Advisor’s
investment committee for the Company’s portfolio (the “Investment Committee”) that provides for a centralized, repeatable decision process. The number of voting and non-voting members of the Investment Committee is subject to increase or decrease in
the sole discretion of the Advisor.
Effective as of the close of business on August 31, 2026, Philip Tseng is no longer a voting member of the Investment Committee. Jason
Mehring, Dan Worrell, Vikas Keswani, Michael Fenstermacher, and Grishma Parekh continue to serve as voting members of the Investment Committee.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BLACKROCK PRIVATE CREDIT FUND
Date: September 4, 2026
By:
/s/ Diana Huffman
Name: Diana Huffman
Title: General Counsel and Secretary
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