BlackRock Aladdin has launched new private credit capabilities on Preqin, expanding the platform’s data, benchmarking and analytics coverage across closed-end funds, business development companies (BDCs) and semi-liquid vehicles.

The enhanced capabilities are designed to give investors a more connected view of private credit markets, allowing them to analyse market trends, fund dynamics and underlying assets together.

Read more: FSB urges greater transparency in private credit

The new private credit suite includes:

• 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, which introduce standardised ways that 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, leveraging Aladdin technology to move beyond fund-level reporting and static reporting, and provide insight into underlying exposures, risk and performance
• Integrated AI-powered analytics and research, enabling users to interrogate market, fund and asset data within a single environment.

The firm said the launch is the first in a series of product enhancements designed to help bring a greater level of transparency to private markets through data, analytics and reporting across the whole portfolio.

The capabilities are aimed at a broad range of market participants, including LPs seeking greater visibility into performance, liquidity, risk and exposure, GPs looking to support investment decisions and risk management with standardised loan-level data, and service providers involved in valuation, advisory, regulatory and transaction workflows.

Read more: Semi-liquid structures: the double-edged sword

“Private credit is fragmented by design, with many wrapper formats and siloed data sources. We’re connecting them with one platform unifying data, analytics and AI Research Assistants across the market, replacing days of manual analysis with a single query,” said Leon Sinclair, global head of Preqin Product at BlackRock.

“By marrying Aladdin technology and Preqin’s differentiated data and analysis tools, we can bring greater transparency to private markets investors. This represents a first step toward a market-leading, integrated private credit solution in the Aladdin ecosystem that will equip market participants with better data, analytics and transparency across the whole portfolio.”