Global asset manager BlackRock’s risk management platform Aladdin has launched new  private credit capabilities on its private markets data provider Preqin, marking the first step in a broader effort to bring greater transparency, analytical depth and a single connected view of data to the private credit space.

With an expansion of private credit data, benchmarks and analytics, Preqin Pro enables investors to analyze market trends, fund dynamics and underlying assets together, across closed-end funds, business development companies ( BDCs ) and semi-liquid vehicles, all within a unified research and analytics experience. 

As private credit markets scale and diversify, clients, the platform notes, are seeking clearer, more connected insights across liquidity, risk and performance.

The latest enhancements to Preqin, the platform points out, “begin to address a market gap, delivering consistent, standardized intelligence across private credit that underscores BlackRock’s commitment to evolving its global platform to meet client needs across their entire portfolio”. 

The updated private credit suite now includes:

• the ability to create a holistic view of the private credit market from fund to asset across fund types, strategies, asset types and issuers, spanning closed-end funds, BDCs and other semi-liquid structures
• new asset-level benchmarks that standardized the ways to converge the full spectrum of the BDC and closed ended universes, allowing users to assess risk and performance trends across money multiples, valuation trends, leverage ratios, defaults and recoveries, equity cushion multiples and borrower financials
• enhanced BDC analytics that leverage Aladdin technology to move beyond fund-level reporting and static reporting, and provide insight into underlying exposures, risk and performance 
• integrated artificial intelligence-powered analytics and research that enables users to interrogate market, fund and asset data within a single environment and synthesize with custom visual insights. 

This launch is the first in a series of product enhancements that will deliver on its mission to help clients capture the expanding opportunity in private credit, aiming to bring a greater level of transparency through data, analytics and reporting across the whole portfolio.

The enhanced private credit capabilities support a broad range of market participants:

• For limited partners, analytics-led insight embedded in the platform provides clearer visibility into performance, risk, liquidity and exposure, while service providers gain a consistent, market wide view to support valuation, advisory, regulatory and transaction workflows.
• For general partners, the platform connects standardized, cleaned and benchmarked loan-level data across BDCs and closed-ended private credit to support investment decisions and risk management.

“Private credit is becoming a core part of portfolios, but the data remains fragmented, making it difficult for investors to understand their risk and benchmark their performance,” says Kunal Khara, BlackRock’s global head of Aladdin product. “This expansion brings together Aladdin technology with Preqin and eFront data and analytics to create a more unified, transparent and robust view of private credit. It’s another step toward our mission to build a more connected ecosystem that helps clients better understand risk, performance and opportunity across their whole portfolio.”