(Reuters) -BlackRock, the world’s biggest asset manager, is winding down a social impact fund that invested in collapsed subprime car lender Tricolor, the Financial Times reported on Friday, citing several people familiar with the decision. The firm told employees it would close its BlackRock Impact Opportunities fund to new investments after Tricolor filed for bankruptcy […]
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BlackRock to wind down fund that invested in failed car lender Tricolor, FT reports
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(Reuters) -BlackRock, the world’s biggest asset manager, is winding down a social impact fund that invested in collapsed subprime car lender Tricolor, the Financial Times reported on Friday, citing several people familiar with the decision.
The firm told employees it would close its BlackRock Impact Opportunities fund to new investments after Tricolor filed for bankruptcy in September, the report said.
Reuters could not immediately verify the report. BlackRock did not immediately respond to a Reuters request for comment.
(Reporting by Dheeraj Kumar in Bengaluru; Editing by Leslie Adler)