BTX

BlackRock Technology and Private Equity Term Trust is a closed-end fund with a defined termination date that invests in technology sector equities and private equity securities. Managed by BlackRock Advisors, LLC, the fund provides investors with exposure to innovative technology companies through public equity investments combined with private equity positions accessed through secondary market purchases, direct co-investments, or other structures. The term fund structure provides a predetermined liquidation date when assets will be sold and proceeds distributed to shareholders. The fund's portfolio combines publicly traded technology stocks across sectors including software, semiconductors, internet, cybersecurity, cloud computing, artificial intelligence, and other technology-driven industries with private equity investments in technology companies not yet public or exited. The private equity component may include secondary purchases of PE fund interests, direct co-investments alongside PE firms, or other mechanisms accessing private technology company equity. This dual public-private approach aims to capture returns from both public technology market opportunities and private company value creation potentially offering premium returns but with illiquidity and valuation complexity. As a closed-end term fund, the vehicle trades on exchanges and may trade at premiums or discounts to NAV, though the discount should narrow as the termination date approaches. The fund employs leverage potentially to enhance returns. The term structure addresses typical closed-end fund discount concerns by providing defined liquidation. The trust provides distributions from dividends, capital gains, and potentially return of capital. The fund serves investors seeking technology sector exposure with private equity component diversification through professional management and defined term. Technology investing offers growth potential but higher volatility, while private equity investments add illiquidity, valuation complexity, and typically longer hold periods with potential for enhanced returns but also higher risk. The fund's concentrated technology focus creates sector-specific risks while the private equity component adds complexity and illiquidity considerations. Performance depends on technology sector fundamentals, private equity portfolio valuation and exit timing, overall market conditions, and the fund's discount/premium dynamics approaching termination.