02:32 PM EST, 01/19/2022 (MT Newswires) -- US asset manager BlackRock (BLK) is renewing fund-raising efforts for its long-term private equity fund, Bloomberg reported Wednesday.

BlackRock is considering raising an additional amount of $2 billion to $3 billion for its Long-Term Private Capital strategy, which acquires stakes in private firms, according to the report.

Last January, the fund raised $3.44 billion, below its initial target of up to $12 billion, Bloomberg reported.

BlackRock reportedly refrained from providing comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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