BlackRock Capital Allocation Trust
BCAT
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- John M. Perlowski
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 55 East 52nd Street New York City NY United States of America 10055
- IPO Date
- Sep 25, 2020
- CIK
- 0001809541
- Website
- blackrock.com
- Similar Companies
- Business
- BlackRock Capital Allocation Term Trust (NYSE: BCAT) is a closed-end management investment trust with a primary objective to provide total return and income through a combination of current income, current gains, and long-term capital appreciation. The Trust invests in a diversified portfolio that generally includes both equity securities, such as common stocks in sectors including information technology, financials, consumer discretionary, industrials, and health care, and debt securities, including high yield bonds, investment grade corporate bonds, securitized assets like agency RMBS, CLOs, ABS, and CMBS, emerging market sovereign bonds, and developed market sovereign bonds; it also employs an options writing strategy to generate income from premiums and enhance risk-adjusted returns, maintains exposure to commodities and private investments across equity and credit in areas such as technology, hospitality, and aerospace, and may utilize derivatives and economic leverage. Headquartered in Wilmington, Delaware, the Trust was launched in September 2020 and operates with a contingent limited term structure, planning a liquidity event at net asset value around September 2032, subject to potential extension or conversion to perpetual existence via an eligible tender offer if aggregate net assets exceed $200 million following such offer. The Trust serves institutional and retail investors seeking high income and growth potential, with geographic exposure spanning U.S., international developed, and emerging markets through its public and private holdings. Portfolio managers, led by BlackRock's Global Allocation Team including Rick Rieder as CIO of Global Fixed Income, Russ Koesterich, Sarah Thompson, and Randy Berkowitz, dynamically allocate across asset classes, with equity at approximately 52%, fixed income at 48%, private investments at 13.3% (including positions in companies like SpaceX, Fanatics, and Bytedance), and no financial leverage as of mid-2025 amid elevated borrowing costs. Recent developments include the renewal of its Discount Management Program in November 2025 to repurchase shares via tender offers if discounts to NAV exceed specified thresholds during designated periods; adoption of a managed distribution plan targeting 20% of 12-month rolling average daily NAV, yielding around 21% annualized on market price as of June 2025 with distributions comprising net income and primarily return of capital; a name change to BlackRock Capital Allocation Term Trust in April 2023 to highlight its term structure; and continued portfolio evolution such as increased equity weighting to 51.8% in Q2 2025 driven by market gains in technology and industrials, trims in high yield credit and securitized assets, and additions to private equity and credit in tech-driven hospitality firms.