BlackRock (BLK) is gauging buying interest among rival managers, including Ares Management (ARES), for all $671 million of loans held by its TCP Capital private credit fund, Bloomberg reported Monday, citing people with knowledge of the matter.

TCP's advisers at Keefe, Bruyette & Woods have started to pitch the assets to Ares and several other firms as BlackRock looks to overhaul the private credit fund, which trades at a discount to its net asset value, the report said, citing the people.

No final decision to sell the loans has been made, the report said, citing one of the people.

BlackRock and Ares didn't immediately reply to requests for comment from MT Newswires.

(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.)

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