BlackRock Joins MEMX Hedge‐Fund Rollout as Brown Brothers Slashes Stake 7.3%
BlackRock joined Citadel Securities and Goldman Sachs backing MEMX’s planned roll-out of hedge-fund access to Kalshi prediction markets in coming months. Separately, private-credit market strains pose potential risk for BlackRock’s credit funds, and Brown Brothers Harriman reduced its BlackRock position by 7.3% to 36,096 shares in the latest quarter.
1. BlackRock Backs MEMX Hedge-Fund Access
BlackRock is part of a consortium including Citadel Securities and Goldman Sachs to support MEMX’s infrastructure build-out that will on-ramp hedge funds to Kalshi’s event-contract markets in coming months. The move extends BlackRock’s push into fintech and derivatives trading beyond traditional asset management.
2. Private-Credit Market Strains
Widening spreads and rising default forecasts in private-credit markets could pressure NAVs of BlackRock’s credit funds, which hold leveraged loans and direct loan portfolios. Investors may see reduced liquidity and valuation uncertainty if loan performance worsens.
3. Brown Brothers Harriman Trims Stake
Brown Brothers Harriman & Co. cut its BlackRock shareholding by 7.3%, selling 2,845 shares to leave a 36,096-share position in the latest quarter. The stake reduction signals a modest rebalancing by the institutional investor.