BlackRock Advisers to Invest Up to $1 Billion With LendingClub

BlackRock Inc. investment advisers will place as much as $1 billion in LendingClub Corp.’s marketplace programs through next year under a deal struck between the two companies.

The agreement follows BlackRock’s first transaction of $100 million under LendingClub’s new LendingClub Rated Notes, or LENDR, program, which was completed in June, according to a statement Tuesday. LENDR offers multiple tranches, each with a credit rating from Fitch Ratings Inc.