Tender Offer Statement (Form SC TO-I)

Reference is made to the Summary Term Sheet of the Offer to Purchase (as defined below) that is attached hereto as Exhibit (a)(1)(ii) and is hereby incorporated by reference.

Each Shareholder that tenders Shares that are accepted for purchase will be sent a letter (the "Acceptance Letter") notifying the Shareholder that the Fund has received and accepted their tender. Such Shareholder will be issued a non-interest bearing, non-transferable promissory note (the "Repurchase Instrument") entitling the tendering Shareholder to receive an amount equal to the value of the Shares accepted for repurchase by the Fund determined as of the Valuation Date. The Repurchase Instrument will be held for the tendering Shareholder by State Street Bank and Trust Company, the Fund's transfer agent (the "Transfer Agent"). Forms of the Acceptance Letter and the Repurchase Instrument are attached hereto as Exhibits (a)(1)(iv) and (a)(1)(v), respectively, and incorporated herein by reference.

determined at this time to borrow funds to purchase Shares tendered in connection with the Offer. Depending on the dollar amount of Shares tendered and prevailing general economic and market conditions, the Fund, in its sole discretion, may decide to seek to borrow money to fund all or a portion of the purchase amount for Shares, subject to compliance with applicable law. The Fund expects that the repayment of any amounts borrowed will be financed from additional funds contributed to the Fund by existing or new Shareholders.

None of the persons listed above intends to tender any of his or her Shares in the Offer.

Addresses for each of the persons listed above are provided in Item 3.

During the past sixty (60) days, the Fund issued an aggregate of approximately 1,379,213 Shares, including Shares issued pursuant to the DRIP, for net proceeds of approximately $32,469,371.58.

In connection with the completion of the Fund's tender offer that commenced on May 11, 2026, the Fund repurchased on or about June 8, 2026, 3,522,433 of its outstanding shares of beneficial interest (including Class I common shares of beneficial interest, Class S common shares of beneficial interest, and Class D common shares of beneficial interest), at a purchase price of $23.49 per share, the net asset value per share as of June 30, 2026, pursuant to the terms of such tender offer, as set forth in the Schedule TO-I filed by the Fund with the SEC on May 11, 2026. The payment of the purchase price of the Shares tendered was made in the form of non-interest bearing, non-transferable promissory notes issued to the Shareholders whose tenders were accepted for purchase by the Fund in accordance with the terms of the Offer. The promissory notes were held by the Fund's transfer agent on behalf of each tendering shareholder. Pursuant to the promissory notes, on or before July 30, 2026, the Fund paid to the tendering Shareholders a total of $82,721,401, an amount equal to the aggregate net asset value of the Shares as of the Valuation Date, less the early repurchase deduction, as applicable.

There have been no other transactions in Shares effected during the past sixty (60) days by the Fund, and the Adviser, BlackRock Financial Management, Inc., or any Trustee or executive officer of the Fund, or any person controlling the Fund or the Adviser.

None.

SIGNATURE

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: August 10, 2026

EXHIBIT INDEX