Hedge Funds

BlackRock readies fund to pounce on credit opportunities

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BlackRock, which has had a terrific first five months of the year in its equity and natural resources funds, is gearing up to launch a new special-situations credit strategy. The new fund will be managed from the firm's New York offices by Kevin Booth, James Keenan and Mark Williams, co-heads of BlackRock's leveraged finance team. It is expected to go live at the end of July.

The new BlackRock Special Situations Credit Fund will seek to take advantage of opportunities that arise from the increasing default rates and credit market dislocations expected to follow the recent spread widening and