BlackRock sells nearly half of loan portfolio to Pantheon-backed vehicle in $523M deal

BlackRock sells nearly half of loan portfolio to Pantheon-backed vehicle in $523M deal

BlackRock TCP sells 48% of its loan portfolio ($523M) to Pantheon via continuation vehicle, reducing leverage from 1.38x to 0.4x. Continuation vehicles emerge as primary exit strategy in private credit, signaling loan portfolio secondarization and BDC deleveraging under regulatory scrutiny.