BlackRock Private Credit Fund’s Valuations Are Probed by DOJ (1)

Federal prosecutors are scrutinizing valuation practices at a BlackRock Inc. private credit fund, according to people with knowledge of the matter.

The Manhattan US Attorney’s office in recent months has been seeking information about BlackRock TCP Capital Corp., a publicly traded business development company, said the people, who asked not to be identified discussing a private matter. Executives have been questioned as part of the probe, one of the people said.

A representative for BlackRock declined to comment. A spokesperson for the Southern District of New York didn’t respond to a request for comment.

Jay Clayton, who runs ...