BlackRock (BLK) has received investor consent to extend its second Asia private credit fund for another year, starting January, Bloomberg News reported Tuesday, citing certain documents and people familiar with the matter.

The company said it may deploy up to $135 million in new investments during this time, according to the report.

New investors in the BlackRock Asia Pacific Private Credit Opportunities Fund II include Ares Management (ARES) and Pantheon Ventures, which acquired stakes from Arch Capital Group (ACGL), the sources reportedly said.

The Fund originally targeted to raise $1 billion but closed at about $435 million when its investment period expired last October, according to Bloomberg.

BlackRock did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)