BlackRock paused fundraising for its latest Asian private credit strategy earlier this year, according to a report by Bloomberg.

Bloomberg said people familiar with the matter said fundraising for the firm’s third Asia-Pacific private credit fund came to a standstill earlier in 2025 following the announcement in December that BlackRock was buying private credit firm HPS.

BlackRock was reportedly targeting to raise about $1bn for its third Asia-Pacific private credit fund, with fundraising starting in Q4 2023.