BlackRock's Private Credit Arm Got Tricked in Massive Fraud

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:

The New York state entity search showed three companies with Carriox in the name.  Two had a Long Island address while the other showed Queens.  

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.

Update 10-31-25:  My wise friend wrote:

You need to carry oxygen when you go through the portfolios of private capital car wrecks. No one wants to search this junkyard. But hey, let's garage them in the 401(k)s of the M - ASSES! 

Let me correct you, Marc Rowan is a suspect! The only letters he should be writing are to the parole board 

I am not sure the private credit investors will get nervous with Paul Atkins and the banking regulators told to look the other way with the current crop of thieves in the administration. Maybe if we brought back Bill Black or Neil Borofsky. 

But we have and have had an economy expanding on fraud and all the beneficiaries KNOW it can only continue if you have the King of Fraudsters ruling with his mighty scepter (his middle finger). 

Both sides are controlled by the same fraudsters.  Trump's mendacity and corruption is the sinkhole for all their pilfering with the people picking up the tab again. 

Thank you for chronicling the misallocation of everything. Happy Halloween! The ghouls are everywhere

His words were in response to this message:

Carriox Capital was a con from beginning to end..... 

Marc Rowan (Apollo) and his investment grade quote was suspect at the time, even more so now. BlackRock got taken!!!! 

Once the private credit investors get nervous, crypto should follow. 

Trump's enforcement regime is more interested in licking their boss' ball sack and flying around the country for entertainment on the taxpayers dime. 

Trump's arrogance and incompetence will engender rage once the people gain an understanding of the depths of his malfeasance and the sheer idiocy of his attendants.