Carriox Capital conned HPS Investment Partners, the private credit arm of BlackRock, and BNP Paribas for $553 million. Carriox ditched its website, an understandable move but some of its promotional slides remain available on World Telemedia. Early on Carriox sold itself as "relief from credit risk" when it was the epitome of credit risk.
The office address for Carriox in their slide deck is a Lincoln Park Studio apartment:
Carriox had a due diligence slide, but none of that happened in that studio walkup:
"Due Diligence" was in reality "Do Shill-igence."
There are other places within BlackRock where money is flying around. CEO Larry Fink is having his well deserved sphincter moment and investors would be wise to re-evaluate any investments in private equity, private credit and crypto.
AI should be avoided in its entirety, for use or investment. That is if you want to keep your mental faculties about you.
If the pros can bomb this badly, do you really need their help? It's a question worth asking.
