BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals. It seeks to invest in the United States. The fund typically invests between $10 million and $35 million in companies with enterprise values between $100 million and $1500 million. It prefers to make equity investments in companies for an ownership stake.
IPO Year: 2012
Exchange: NASDAQ
Website: tcpcapital.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/26/2024 | $8.50 → $8.00 | Equal Weight → Underweight | Wells Fargo |
| 8/8/2024 | Buy → Neutral | Ladenburg Thalmann | |
| 3/6/2024 | $13.00 → $11.00 | Outperform → Perform | Oppenheimer |
| 3/1/2024 | Mkt Outperform → Mkt Perform | JMP Securities | |
| 3/1/2024 | Outperform → Mkt Perform | Raymond James | |
| 10/25/2021 | $14.50 → $14.25 | Equal-Weight | Wells Fargo |
| 8/3/2021 | $14.00 → $14.50 | Equal-Weight | Wells Fargo |
8-K - BlackRock TCP Capital Corp. (0001370755) (Filer)
10-Q - BlackRock TCP Capital Corp. (0001370755) (Filer)
40-17G - BlackRock TCP Capital Corp. (0001370755) (Filer)
8-K - BlackRock TCP Capital Corp. (0001370755) (Filer)
8-K - BlackRock TCP Capital Corp. (0001370755) (Filer)
8-K - BlackRock TCP Capital Corp. (0001370755) (Filer)
8-K - BlackRock TCP Capital Corp. (0001370755) (Filer)
10-Q - BlackRock TCP Capital Corp. (0001370755) (Filer)
8-K - BlackRock TCP Capital Corp. (0001370755) (Filer)
8-K - BlackRock TCP Capital Corp. (0001370755) (Filer)
Net Investment Income of $0.40 Per Share; Declares Fourth Quarter Dividend of $0.34 Per Share and a Special Dividend of $0.10 Per Share; 50 Consecutive Quarters of Dividend Coverage BlackRock TCP Capital Corp. ("we," "us," "our," "TCPC" or the "Company"), a business development company (NASDAQ:TCPC), today announced its financial results for the third quarter ended September 30, 2024 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. FINANCIAL HIGHLIGHTS On a GAAP basis, net investment income for the quarter ended September 30, 2024 was $33.9 million, or $0.40 per share on a diluted basis, which exceeded the regular dividend of $0.34 per share paid on September 30
BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced today that it will report its financial results for the third quarter ended September 30, 2024 on Wednesday, November 6, 2024, prior to the opening of the financial markets. BlackRock TCP Capital Corp. will also host a conference call at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time) on Wednesday, November 6, 2024, to discuss its financial results. All interested parties are invited to participate in the conference call by dialing (833) 470-1428; international callers should dial (404) 975-4839. All participants should reference the access code 846824. The conference call will be webcast simultaneously in the investor relations section
KBRA assigns issuer and senior unsecured debt ratings of BBB- to BlackRock TCP Capital Corp. (NASDAQ:TCPC, the company", ))). The rating Outlook is Stable. Key Credit Considerations The ratings are supported by TCPC's ties to BlackRock, Inc.'s (NYSE:BLK) $86 billion credit platform, of which $35 billion is principally dedicated to private middle market direct lending. BLK, with $10.6 trillion in assets under management, is one of the largest investment managers in the world. Since 2000, the credit platform has invested capital totaling more than $41 billion in 1,025 transactions, sourcing investments through an extensive network of industry and sponsor contacts. The BlackRock platform con
BlackRock TCP Capital Corp. (NASDAQ:TCPC) today announced the following leadership transitions effective November 6, 2024: Chairman of the Board and Chief Executive Officer Rajneesh Vig will resign his position as Chairman of the Board and CEO and will continue to serve on the Company's Board of Directors until January 31, 2025 to ensure a smooth transition. Raj Vig made the decision to step back from those roles and to pursue other opportunities outside of BlackRock, Inc. President Phil Tseng will succeed Raj Vig as Chairman of the Board of Directors and Chief Executive Officer. He has also been named Co-Chief Investment Officer. Chief Operating Officer Jason Mehring will assume the
BlackRock TCP Capital Corp. ("we," "us," "our," "TCPC" or the "Company"), a business development company (NASDAQ:TCPC), today announced its financial results for the second quarter ended June 30, 2024 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. FINANCIAL HIGHLIGHTS On a GAAP basis, net investment income for the quarter ended June 30, 2024 was $35.8 million, or $0.42 per share on a diluted basis, which exceeded the regular dividend of $0.34 per share paid on June 28, 2024. Excluding amortization of purchase discount recorded in connection with the Merger(1), adjusted net investment income(1) for the quarter ended June 30, 2024 was $32.1 million, or $0.38 pe
BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced today that it will report its financial results for the second quarter ended June 30, 2024 on Wednesday, August 7, 2024, prior to the opening of the financial markets. BlackRock TCP Capital Corp. will also host a conference call at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time) on Wednesday, August 7, 2024, to discuss its financial results. All interested parties are invited to participate in the conference call by dialing (833) 470-1428; international callers should dial (404) 975-4839. All participants should reference the access code 570726. The conference call will be webcast simultaneously in the investor relations section of TC
BlackRock TCP Capital Corp. (NASDAQ:TCPC) ("TCPC" or the "Company") announced today the pricing of an underwritten public offering of $325,000,000 in aggregate principal amount of 6.95% notes due 2029 (the "Notes"). The Notes are expected to be issued on or about May 30, 2024, subject to customary closing conditions. The Notes will be the senior unsecured obligations of the Company and will bear interest at a rate of 6.95% per year, payable semiannually. The Notes will mature on May 30, 2029 and may be redeemed in whole or in part at the Company's option at any time at par plus a "make-whole" premium, provided that the Notes may be redeemed at par one month prior to their maturity. The
BlackRock TCP Capital Corp. ("we," "us," "our," "TCPC" or the "Company"), a business development company (NASDAQ:TCPC), today announced its financial results for the first quarter ended March 31, 2024 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. FINANCIAL HIGHLIGHTS As previously announced, on March 18, 2024, the Company completed its acquisition of BlackRock Capital Investment Corporation, a Delaware corporation ("BCIC"), pursuant to the Amended and Restated Agreement and Plan of Merger (the "Merger Agreement"), dated as of January 10, 2024. Pursuant to the Merger Agreement, BCIC merged with and into BCIC Merger, Sub, LLC, a Delaware limited liability comp
BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced today that it will report its financial results for the first quarter ended March 31, 2024 on Wednesday, May 1, 2024, prior to the opening of the financial markets. BlackRock TCP Capital Corp. will also host a conference call at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time) on Wednesday, May 1, 2024, to discuss its financial results. All interested parties are invited to participate in the conference call by dialing (833) 470-1428; international callers should dial (404) 975-4839. All participants should reference the access code 445484. The conference call will be webcast simultaneously in the investor relations section of TCPC's w
Chicago, IL, March 19, 2024 (GLOBE NEWSWIRE) -- Vedder Price is pleased to announce that it represented the Special Committee of Independent Directors of BlackRock Capital Investment Corporation ("BCIC") (NASDAQ:BKCC) in the previously announced merger of BCIC with BlackRock TCP Capital Corp., which closed on Monday, March 18, 2024. In connection with the merger, the combined company will continue to trade on the NASDAQ Global Select Market (NASDAQ:TCPC). The combined company will also continue to be externally managed by its advisor, an indirect subsidiary of BlackRock, Inc. "We are pleased to have guided the Special Committee through all aspects of the merger process," said Vedder
Recent insider activity at BlackRock TCP Capital Corp. has been quite intriguing, with multiple transactions taking place over the past few months. On June 7, 2024, Petro Andrea made a significant purchase of $57,450 worth of shares, acquiring 5,000 units at $11.49. This purchase boosted Petro Andrea's direct ownership by 73% to 11,823 units, as disclosed in the SEC Form 4. Looking back, on March 20, 2024, several notable transactions occurred. Usifer Maureen K filed an SEC Form 3 as a new insider, while Baron John R and Usifer Maureen K were granted 8,404 and 20,997 shares, respectively. Around the same time, Vig Rajneesh returned 38,680 shares to the company, reducing direct ownership by
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BlackRock TCP Capital Corp. ("we," "us," "our," "TCPC" or the "Company"), a business development company (NASDAQ:TCPC), today announced that the Board of Directors (the "Board") of the Company has appointed Karen L. Leets as an independent director effective October 27, 2022. Ms. Leets has been appointed to serve on the Audit Committee and Governance and Compensation Committees of the Board. TCPC's diverse Board now includes seven members, including six independent directors. Ms. Leets is Senior Vice President and Treasurer of Baxter International, Inc., a multinational healthcare company, and holds a CPA license in Illinois. She brings significant global public company financial expertise
BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced today that current Director, Eric Draut was appointed to serve as Lead Independent Director of its Board of Directors effective October 28, 2021. On October 28, 2021, the Board of Directors of BlackRock TCP Capital Corp. ("TCPC") established the role of Lead Independent Director, and elected Eric Draut to serve in this role. Mr. Draut has served on the Company's Board of Directors since 2011 and had recently served as Chair of the Audit Committee. In conjunction with the establishment of a Lead Independent Director and Mr. Draut's appointment, the Board also appointed existing Board Members Peter Schwab and M. Freddie Reiss as Chair of th
Howard Levkowitz to Retire as Chairman and Chief Executive Officer; Board Appoints Rajneesh Vig as Successor; Phil Tseng Named President and Chief Operating Officer BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced today that Rajneesh Vig will succeed Howard Levkowitz as Chairman and Chief Executive Officer and Phil Tseng will assume the roles of President and Chief Operating Officer. This transition in leadership follows BlackRock's highly successful 2018 acquisition of Tennenbaum Capital Partners ("TCP") that solidified BlackRock as a leading private credit manager. Howard Levkowitz, a co-founder of TCP, announced that he will be retiring from his role as Chief Executive Officer of Bl
SAN DIEGO, Dec. 3, 2020 /PRNewswire/ -- AlphaTrAI, Inc. a venture-backed, technology-driven asset management firm, today announced the expansion of its Advisory Council to include Dan Kreuter, Founding Partner of the Gladstone Group and Founder of DAK Associates, as well as Erik Rannala, Founder and Managing Partner of Mucker Capital, a leading venture capital firm. The AlphaTrAI Advisory Council is a select panel of technology, institutional investing, asset management and wealth management experts that provide strategic guidance to the company's executive leadership team as it seeks to modernize classic approaches to asset management to be more dynamic, responsive and precise. In a rela
Wells Fargo downgraded BlackRock TCP Capital from Equal Weight to Underweight and set a new price target of $8.00 from $8.50 previously
Ladenburg Thalmann downgraded BlackRock TCP Capital from Buy to Neutral
Oppenheimer downgraded BlackRock TCP Capital from Outperform to Perform and set a new price target of $11.00 from $13.00 previously
JMP Securities downgraded BlackRock TCP Capital from Mkt Outperform to Mkt Perform
Raymond James downgraded BlackRock TCP Capital from Outperform to Mkt Perform
Wells Fargo reiterated coverage of BlackRock TCP Capital with a rating of Equal-Weight and set a new price target of $14.25 from $14.50 previously
Wells Fargo reiterated coverage of BlackRock TCP Capital with a rating of Equal-Weight and set a new price target of $14.50 from $14.00 previously
JMP Securities resumed coverage of BlackRock TCP Capital with a rating of Outperform and set a new price target of $14.50
Raymond James upgraded BlackRock TCP Capital from Market Perform to Outperform and set a new price target of $14.00
JMP Securities initiated coverage of BlackRock TCP Capital with a rating of Outperform and set a new price target of $14.50
Recent insider activity at BlackRock TCP Capital Corp. has been quite intriguing, with multiple transactions taking place over the past few months. On June 7, 2024, Petro Andrea made a significant purchase of $57,450 worth of shares, acquiring 5,000 units at $11.49. This purchase boosted Petro Andrea's direct ownership by 73% to 11,823 units, as disclosed in the SEC Form 4. Looking back, on March 20, 2024, several notable transactions occurred. Usifer Maureen K filed an SEC Form 3 as a new insider, while Baron John R and Usifer Maureen K were granted 8,404 and 20,997 shares, respectively. Around the same time, Vig Rajneesh returned 38,680 shares to the company, reducing direct ownership by
Oppenheimer analyst Mitchel Penn maintains BlackRock TCP Cap (NASDAQ:TCPC) with a Perform and lowers the price target from $11 to $10.
BlackRock TCP Cap (NASDAQ:TCPC) reported quarterly earnings of $0.45 per share which beat the analyst consensus estimate of $0.44 by 2.27 percent. This is a 2.27 percent increase over earnings of $0.44 per share from the same period last year. The company reported quarterly sales of $55.73 million which beat the analyst consensus estimate of $52.95 million by 5.25 percent. This is a 10.78 percent increase over sales of $50.31 million the same period last year.
Keefe, Bruyette & Woods analyst Paul Johnson maintains BlackRock TCP Cap (NASDAQ:TCPC) with a Market Perform and lowers the price target from $11.5 to $10.5.
BlackRock TCP Capital Corp. ("TCPC")(NASDAQ:TCPC) and BlackRock Capital Investment Corporation ("BCIC")(NASDAQ:BKCC) announced today that the shareholders of each business development company ("BDC") have voted to approve the necessary proposals related to the merger of TCPC and BCIC at each company's special meeting of shareholders held on March 7, 2024.Shareholders voted overwhelmingly in favor of the proposed transaction, as more than 90% of shareholders represented at each meeting voted in favor of the merger.Rajneesh Vig, Co-Head of US Private Capital ("USPC") for BlackRock, and Chairman and CEO of BlackRock TCP Capital Corp., said: "We thank shareholders of both BDCs for their overwhel
Oppenheimer analyst Mitchel Penn downgrades BlackRock TCP Cap (NASDAQ:TCPC) from Outperform to Perform and lowers the price target from $13 to $11.
Raymond James analyst Robert Dodd downgrades BlackRock TCP Cap (NASDAQ:TCPC) from Outperform to Market Perform.
Keefe, Bruyette & Woods analyst Ryan Lynch maintains BlackRock TCP Cap (NASDAQ:TCPC) with a Market Perform and lowers the price target from $12.5 to $11.5.
JMP Securities analyst Brian McKenna downgrades BlackRock TCP Cap (NASDAQ:TCPC) from Market Outperform to Market Perform.
Net Investment Income of $0.40 Per Share; Declares Fourth Quarter Dividend of $0.34 Per Share and a Special Dividend of $0.10 Per Share; 50 Consecutive Quarters of Dividend Coverage BlackRock TCP Capital Corp. ("we," "us," "our," "TCPC" or the "Company"), a business development company (NASDAQ:TCPC), today announced its financial results for the third quarter ended September 30, 2024 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. FINANCIAL HIGHLIGHTS On a GAAP basis, net investment income for the quarter ended September 30, 2024 was $33.9 million, or $0.40 per share on a diluted basis, which exceeded the regular dividend of $0.34 per share paid on September 30
BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced today that it will report its financial results for the third quarter ended September 30, 2024 on Wednesday, November 6, 2024, prior to the opening of the financial markets. BlackRock TCP Capital Corp. will also host a conference call at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time) on Wednesday, November 6, 2024, to discuss its financial results. All interested parties are invited to participate in the conference call by dialing (833) 470-1428; international callers should dial (404) 975-4839. All participants should reference the access code 846824. The conference call will be webcast simultaneously in the investor relations section
BlackRock TCP Capital Corp. ("we," "us," "our," "TCPC" or the "Company"), a business development company (NASDAQ:TCPC), today announced its financial results for the second quarter ended June 30, 2024 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. FINANCIAL HIGHLIGHTS On a GAAP basis, net investment income for the quarter ended June 30, 2024 was $35.8 million, or $0.42 per share on a diluted basis, which exceeded the regular dividend of $0.34 per share paid on June 28, 2024. Excluding amortization of purchase discount recorded in connection with the Merger(1), adjusted net investment income(1) for the quarter ended June 30, 2024 was $32.1 million, or $0.38 pe
BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced today that it will report its financial results for the second quarter ended June 30, 2024 on Wednesday, August 7, 2024, prior to the opening of the financial markets. BlackRock TCP Capital Corp. will also host a conference call at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time) on Wednesday, August 7, 2024, to discuss its financial results. All interested parties are invited to participate in the conference call by dialing (833) 470-1428; international callers should dial (404) 975-4839. All participants should reference the access code 570726. The conference call will be webcast simultaneously in the investor relations section of TC
BlackRock TCP Capital Corp. ("we," "us," "our," "TCPC" or the "Company"), a business development company (NASDAQ:TCPC), today announced its financial results for the first quarter ended March 31, 2024 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. FINANCIAL HIGHLIGHTS As previously announced, on March 18, 2024, the Company completed its acquisition of BlackRock Capital Investment Corporation, a Delaware corporation ("BCIC"), pursuant to the Amended and Restated Agreement and Plan of Merger (the "Merger Agreement"), dated as of January 10, 2024. Pursuant to the Merger Agreement, BCIC merged with and into BCIC Merger, Sub, LLC, a Delaware limited liability comp
BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced today that it will report its financial results for the first quarter ended March 31, 2024 on Wednesday, May 1, 2024, prior to the opening of the financial markets. BlackRock TCP Capital Corp. will also host a conference call at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time) on Wednesday, May 1, 2024, to discuss its financial results. All interested parties are invited to participate in the conference call by dialing (833) 470-1428; international callers should dial (404) 975-4839. All participants should reference the access code 445484. The conference call will be webcast simultaneously in the investor relations section of TCPC's w
BlackRock TCP Capital Corp. ("we," "us," "our," "TCPC" or the "Company"), a business development company (NASDAQ:TCPC), today announced its financial results for the fourth quarter and year ended December 31, 2023 and filed its Form 10-K with the U.S. Securities and Exchange Commission. FINANCIAL HIGHLIGHTS Net investment income for the quarter ended December 31, 2023 was $25.3 million, or $0.44 per share on a diluted basis, which exceeded the regular dividend of $0.34 per share paid on December 29, 2023. This represents 47 consecutive quarters of dividend coverage. Net asset value per share was $11.90 at December 31, 2023 compared to $12.72 at September 30, 2023. Net decrease in
BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced today that it will report its financial results for the fourth quarter and fiscal year ended December 31, 2023 on Thursday, February 29, 2024, prior to the opening of the financial markets. BlackRock TCP Capital Corp. will also host a conference call at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time) on Thursday, February 29, 2024, to discuss its financial results. All interested parties are invited to participate in the conference call by dialing (833) 470-1428; international callers should dial (404) 975-4839. All participants should reference the access code 127670. The conference call will be webcast simultaneously in the investor
NEW YORK, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the fourth quarter of 2023. This quarter, there are constituent changes within four of our indexes: the KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN), KBW Nasdaq Global Bank Index (Index Ticker: GBKX), and KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY). There are a num
BlackRock TCP Capital Corp. ("we," "us," "our," "TCPC" or the "Company"), a business development company (NASDAQ:TCPC), today announced its financial results for the third quarter ended September 30, 2023 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. FINANCIAL HIGHLIGHTS Net investment income for the quarter ended September 30, 2023 was $28.3 million, or $0.49 per share on a diluted basis, which exceeded the regular quarterly dividend of $0.34 per share paid on September 29, 2023. This represents 46 consecutive quarters of dividend coverage. Net asset value per share was $12.72 at September 30, 2023 compared to $12.94 at June 30, 2023. Net increase in