BlackRock Private Investments Fund Announces Tender Offer for Common Shares

The BlackRock Private Investments Fund, a diversified closed-end management investment company, has initiated a tender offer aimed at repurchasing up to 5% of its outstanding Institutional and Class D common shares of beneficial interest. This action is part of a broader effort to manage the fund's assets effectively and is being conducted under specific terms outlined in the Offer to Purchase dated September 27, 2024.

The tender offer is structured to provide shareholders the option to sell their shares back to the fund at a cash price determined by the net asset value (NAV) per share as of December 31, 2024. If the offer period is extended, the final NAV will be calculated on the last business day of the third month following the new expiration date. This move potentially provides an opportunity for shareholders seeking liquidity or strategic repositioning of their portfolios.

The fund, organized as a Delaware statutory trust, currently has over 21.4 million Institutional Shares and approximately 25,000 Class D Shares outstanding as of August 31, 2024. The lack of an established trading market for these shares often limits liquidity, making such tender offers an attractive option for investors looking to exit or reduce their positions.

The investment adviser for the fund is BlackRock Advisors, LLC, a subsidiary of BlackRock, Inc., one of the largest asset management firms globally. The fund’s board of trustees comprises experienced professionals, including John M. Perlowski, who serves as both principal executive officer and principal financial and accounting officer.

Further details on the tender offer, including instructions for shareholders considering participation, are provided in the Offer to Purchase and the associated documents. Shareholders should review these materials carefully to understand the potential tax implications and other consequences of tendering their shares.