BondBloxx Investment Management, a provider of bond ETFs, on Oct. 30 announced that it has raised $27 million in its latest funding round, which was led by Macquarie Asset Management.
In addition to Macquarie, which maintains a minority stake in the company, the funding round included participation from other new and existing investors, BondBloxx said in a news release. Other significant investments came from family offices, according to a BondBloxx spokesperson, who declined to name them.
In September, BondBloxx filed with the Securities and Exchange Commission to offer a private credit ETF, which Macquarie will subadvise, the spokesperson said. The fund will invest at least 80% of its net assets in private credit collateralized loan obligations, she said.
“This additional capital will help power the ongoing expansion of our fund lineup and allow us to further build out our client solutions team and technology platform,” Leland Clemons, founder and CEO of BondBloxx, said in the release. “Partnership with a firm like Macquarie also enables us to challenge the frontier of what is possible in asset classes like private credit.”
BondBloxx, which launched its first ETFs in February 2022, currently offers 24 bond ETFs, the spokeswoman said. As of Oct. 30, BondBloxx had $3.3 billion in assets under management, she said.
Macquarie, a global asset manager, managed about $611.7 billion in assets as of March 31, the release said.