BlackRock reportedly raising $3B for global credit fund

• BlackRock (BLK -0.5%) began marketing the fund - which will go both long and short as it looks to pick up valuation anomalies and mispricings - with an initial target of $500M, reports Bloomberg.
• James Keenan - the company's head of Americas credit - will be the CIO of the new fund, and the manager will be David Trucano.