BSTZ: Private Equity Exposure Remains A Liability

News Snapshot:

guvendemir The BlackRock Science and Technology Term Trust (NYSE:BSTZ) has underperformed sector benchmarks and peer equity closed-end funds ((CEFs)) over the past several years. A large part of that may be explained by the fund's unique strategy of investing across both publicly traded stocks and privately held companies. In this case, private valuations have broadly lagged publicity traded equities during this market cycle. Several investments made going back to the pandemic-era tech boom are underwater, with some uncertainty regarding the exit strategy or IPO pipeline. We last covered BSTZ back in early 2022 ahead of a historically volatile period for...