BlackRock Readies Venture Secondaries Fund as Market Expands (1)

BlackRock Inc. is preparing to roll out a new fund that will buy discounted venture capital stakes from other investors, expanding its push into a hot market.

The world’s largest money manager disclosed plans for the fund this month in regulatory filings. BlackRock executives Jarid Colucci, Derek Krouner and Lisa Sun will oversee the vehicle, the firm’s first focusing on secondhand venture stakes.

The secondary market for private fund stakes has exploded in size alongside a boom in private markets generally. After years growing into a force in passive and index fund investing, BlackRock is now in the middle ...