BlackRock Private Credit Fund 8-K

What Happened
BlackRock Private Credit Fund filed an 8-K on March 19, 2026 disclosing that on March 13, 2026 its subsidiary, BlackRock Private Credit Fund Leverage III, LLC (PCFL III), entered into a Loan and Security Agreement. The agreement names PCFL III as borrower, Bank of Montreal and other lenders as lenders, BlackRock Private Credit Fund as collateral manager and equityholder, and State Street Bank and Trust Company as collateral custodian. Proceeds will be used to acquire a portfolio of middle‑market leveraged loans that PCFL III purchased under related sale and master participation agreements dated March 13, 2026.

Key Details

• Loan Agreement dated March 13, 2026; filed as Exhibit 10.1 to the 8-K.
• Maximum commitments: up to $200.0 million available to draw for the first 3 years; thereafter an amount equal to outstanding principal.
• Interest: Daily Simple SOFR + 1.50% for the first 3 years, then Daily Simple SOFR + 1.75% thereafter.
• BlackRock Private Credit Fund appointed as collateral manager; Loan Agreement contains customary covenants (limits on additional indebtedness and distributions) and events of default.

Why It Matters
This transaction creates a new, material financing arrangement (a direct financial obligation) through the Company’s subsidiary to fund a portfolio of leveraged loans. For investors, it signals increased leverage and investment activity intended to generate income from middle‑market loans, while also introducing interest expense tied to SOFR and contractual limits on distributions and further borrowing. The filed Loan Agreement and related purchase documents provide the full terms for review.