BlackRock announced new private credit capabilities on its Preqin platform, expanding data coverage across closed-end funds, Business Development Companies and semi-liquid vehicles. The enhancement aims to provide unified analytics and research tools for the private credit market.

The expanded Preqin Pro platform now includes asset-level benchmarks that allow users to assess risk and performance trends across various metrics including money multiples, valuation trends, leverage ratios, defaults and recoveries. The platform also features enhanced BDC analytics using Aladdin technology to provide insight into underlying exposures, risk and performance.

Kunal Khara, Global Head of Aladdin Product at BlackRock, said the expansion addresses fragmented data in private credit markets. "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," Khara stated.

The platform includes AI-powered analytics that enable users to analyze market, fund and asset data within a single environment. The service targets limited partners, general partners and service providers across the private credit market.

BlackRock described this launch as the first in a series of product enhancements for its Aladdin platform's private credit capabilities. The Aladdin platform includes eFront, Aladdin Wealth and Preqin services for institutional investors.

The announcement was made through a company press release.