LARKSPUR, Calif.--(BUSINESS WIRE)--BondBloxx, a specialized provider of bond ETFs, today announced its latest capital raise of $27 million. The funding round was led by Macquarie Asset Management, which maintains its minority stake in the company, and also included participation from other new and existing financial investors.
“This is an exciting time for the BondBloxx team and our clients as we continue our mission to transform the bond market through the power of ETF technology. 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,” said Leland Clemons, Founder & CEO of BondBloxx. “Partnership with a firm like Macquarie also enables us to challenge the frontier of what is possible in asset classes like private credit.”
BondBloxx launched its first ETFs in February of 2022 and has since emerged as one of the fastest-growing independent providers of ETFs. The firm now has more than $3.4 billion in assets across 24 bond funds.
Fixed income ETFs, where BondBloxx is a category leader, continue to experience outsized growth. While fixed income ETF assets currently represent less than 20% of the total ETF industry, they have garnered more than 30% of the industry’s inflows over the past two years, with year-to-date 2024 inflows into fixed income ETFs of more than $250 billion.
“The BondBloxx team continues to drive true innovations to the fixed income ETF marketplace, and we are excited to further support those efforts at Macquarie,” added Peter Glaser, Head of Credit with Macquarie Asset Management. “We believe ETFs will play a significant role in the expansion of fixed income capabilities for investors over the next 5 years, and we are excited to partner with BondBloxx in providing differentiated solutions and strategies in that evolution.”
In September, BondBloxx filed for approval to launch what will be a first-of-its-kind private credit CLO ETF, which will be sub-advised by Macquarie Asset Management.
“We’re on the precipice of the next great wave of ETF innovation. BondBloxx is uniquely positioned with the team, the focus and the experience to drive what’s coming next,” added Clemons. “I am proud of our team, grateful to our clients and immensely excited about this next chapter of our journey together.”
For more information on BondBloxx and the firm’s ETF lineup, please visit https://bondbloxxetf.com/
About BondBloxx
BondBloxx Investment Management Corporation (“BondBloxx”) is the first ETF issuer to focus solely on fixed income, offering a range of exposures spanning U.S. Treasuries, investment grade, high yield, tax-aware strategies, and emerging markets bonds. To learn more about BondBloxx’s fixed income-first mission, visit BondBloxxETF.com. BondBloxx is a registered investment adviser and only transacts business in states where it is properly registered or is excluded or exempted from registration requirements.
Disclosures
Carefully consider the Funds’ investment objectives, risks, charges, and expenses before investing. This and other information can be found in the Funds’ prospectus or, if available, the summary prospectus, which may be obtained by visiting bondbloxxetf.com/prospectuses. Read the prospectus carefully before investing.
There are risks associated with investing, including possible loss of principal. Fixed income investments are subject to interest rate risk; their value will normally decline as interest rates rise. Fixed income investments are also subject to credit risk, the risk that the issuer of a bond will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline.
Distributor: Foreside Fund Services, LLC
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager, integrated across public and private markets. Trusted by institutions, governments, foundations and individuals to manage approximately $US611.7 billion in assets, we provide a diverse range of investment solutions including real assets, real estate, credit and equities & multi-asset.
Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory, and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie Group employs over 20,600 people in 34 markets and is listed on the Australian Securities Exchange.
All figures in this section as of March 31, 2024, unless otherwise stated. For further information, visit www.macquarie.com
Important Notices (Macquarie Asset Management): None of the entities noted in this media release is an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and the obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (Macquarie Bank). Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these entities. In addition, if this media release relates to an investment (a) each investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group company guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.
