B-PCOFSecurity Token

BlackRock Private Credit Opportunities Feeder Fund

Value issued: $140M
0D change: -
Yield · Target distribution: 8.92%
NAV: 10.1500
Management fees: 1.60%
Minimum: $100K
Redemption: Quarterly
Launched: 20 Sept 2024

Depends onBNY BNY Digital Asset Custody Securitize Markets ATS

Field coverage 100%Primary-source or on-chain verified 50% of tracked metrics1/1 source documents analyst-verifiedLast reconciled 15 Oct 2026

Overview

What this product is

Tokenized feeder fund created in collaboration with Securitize, expanding BlackRock's private credit franchise on public distributed ledgers. Provides qualified institutional allocators direct access to senior secured direct loans.

Underlying asset: Direct lending to North American middle market companies managed by BlackRock
Asset class: Private Credit
Product structure: Tokenized Fund
Legal structure: US Reg D / 3(c)(7) Fund
Issuer jurisdiction: United States
Fund domicile: United States (Delaware)
Base currency: USD
Launched: 20 Sept 2024

Peer set

Comparable products

Products in the same asset class and currency. Yields are quoted on different bases, so check each one before comparing.


JAAA	6.85%	0.25%	$100K	$2.77B
syrupUSDC	11.50%	1.00%	$0	$752.3M
ARES-PC	9.00%	1.50%	$25K	$500M
syrupUSDT	12.80%	0.50%	$50K	$228.3M
HELOC	8.00%	1.00%	$50K	$150M
B-PCOFthis product	8.92%	1.60%	$100K	$140M
CTAC	9.12%	1.85%	$25K	$118M

Issuer

Who runs it

BlackRock, Inc.

New York, United States

The largest asset manager globally and the anchor issuer of tokenized institutional liquidity. Its BUIDL fund established the template other managers now copy: a registered transfer agent on-chain, a bank custodian off-chain, and multi-network distribution.

Portfolio

Composition

Senior secured direct loans to North American corporations74.0%
Subordinated and mezzanine growth credit18.0%
Short-term cash management sleeve8.0%

Weighted average maturity

1350 days

No on-chain history has been recorded for this product yet. Its value outstanding comes from issuer disclosure rather than a contract read.

AUM

$140M

Assets under management

No on-chain history recorded for this series yet.

Yield

8.92%

Yield history. Target distribution

No on-chain history recorded for this series yet.

NAV

10.1500

NAV per token

No on-chain history recorded for this series yet.

Movement

Recent daily movement

No on-chain history recorded for this product yet.

Holdings

Disclosure

Underlying portfolio


Senior secured direct loans to North American corporations	Private loans	4–6 years	74.0%
Subordinated and mezzanine growth credit	Private loans	3–5 years	18.0%
Short-term cash management sleeve	Cash & equivalents	-	8.0%

Exposure

What you actually own

Economic exposure is to direct lending to north american middle market companies managed by blackrock. Weighted average maturity is 1350 days, which sets how quickly the portfolio reprices as rates move.

Private loans: 92.0%
Cash & equivalents: 8.0%

Redemption

Terms

Contractual terms

Redemption frequency: Quarterly
Dealing cut-off: Quarter-end notice
Settlement: Quarterly liquidity window capped at 5% of fund NAV
Redemption fee: None
Secondary venues: Securitize Markets (ATS)
Transfer restrictions: Transfers permitted exclusively between qualified purchasers on the Securitize registry.

These are contractual terms from the offering documents. Observed settlement performance and any discretionary accommodation by the manager are explicitly out of scope.

Assessment

Liquidity profile

Primary redemption

Quarterly · Quarterly liquidity window capped at 5% of fund NAV

Off-hours exit

Constrained to Quarter-end notice

Secondary market

Securitize Markets (ATS)

Transferability

Allow-listed wallets only

Exit fee

No redemption fee

Relationship graph

Operational dependency network

Every firm and system this product relies on. Select any of them to open its profile.

Every counterparty and system this product depends on to function. Each card links to that entity's own profile: the question worth asking of each is what happens to your position if it stops working.

Open in Ecosystem Graph →

Issuance & legal

Who is legally on the hook for this product.

Issued byBlackRockNew York, United Statesderived Administered byBNYNew York, United Statesderived Transfer agent of recordSecuritizeMiami, United Statesderived

Custody

Where the backing assets actually sit.

Custodied byBNYNew York, United Statesderived Custodied byBNY Digital Asset CustodyBNYderived

Markets & settlement

Where it trades and how value moves between venues and chains.

Traded onSecuritize Markets ATSSecuritizederived Deployed onEthereumpublic l1 · 100% of supplyderived

Edges marked derived are inferred from a structured field on this product that carries its own source; they are not independent confirmation of it. Edges without that mark were sourced separately from a disclosure naming both parties.

Deployments

Registry

Networks and contracts

		Contract / asset id
EthereumPrimary	public l1		100.0%

Counterparties

Service providers

If any of these has a problem, this product is affected.

Custodian: BNY· New York, United States
Administrator: BNY· New York, United States
Transfer agent: Securitize· Miami, United States
Tokenization platform: Securitize· Miami, United States
Oracle / attestation: Securitize NAV attestation

Access

Classification

Who may hold this

RetailNot eligible

AccreditedNot eligible

ProfessionalNot eligible

InstitutionalEligible

Minimum investment: $100,000
Allow-list required: Yes
Transfer restrictions: Transfers permitted exclusively between qualified purchasers on the Securitize registry.

Geography

Where it is available

United StatesAvailable

European UnionNot available

SingaporeAvailable

United KingdomNot available

SwitzerlandNot available

Hong Kong SARNot available

United Arab EmiratesAvailable

Explicit prohibitions

Availability is limited to the jurisdictions in the coverage boundary. Absence here means not covered, not necessarily prohibited. This is a classification of the offering documents, not legal advice.

Structure

Legal and regulatory

Legal structure: US Reg D / 3(c)(7) Fund
Product structure: Tokenized Fund
Fund domicile: United States (Delaware)
Issuer jurisdiction: United States
Transfer agent: Securitize

The domicile of the fund and the jurisdiction of its manager are frequently different. Both are recorded separately because they drive different questions: tax and insolvency follow the domicile, supervision follows the manager.

Source documents

Offering documentation

The documents behind the figures on this page. Anything marked verified has been checked by an analyst.

BlackRock PCOF Private Placement Memorandumoffering memo · 20 Sept 2024Parsed & verified↗

On-chain activity

Daily value outstanding

Value outstanding as read from the token contracts each day, and the movement between readings. Mints and redemptions are not separable on-chain, so this is the net of both, not gross issuance.

No on-chain history recorded for this product yet.

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