BlackRock TCP Capital Corp.
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- BlackRock TCP Capital Corp. (NASDAQ: TCPC) is an externally managed business development company focused on originating and investing in debt securities of private middle-market companies with enterprise values typically between $100 million and $1.5 billion. The company provides senior secured loans, mezzanine debt, subordinated debt, junior loans, equity investments including warrants and direct stakes, and other financing solutions across the capital structure; its portfolio spans industries such as software and internet services, business services, healthcare, energy, communications, consumer services, and manufacturing, with approximately 89% allocated to senior secured debt and a weighted average effective yield of around 14% on debt investments. Headquartered in Santa Monica, California, TCPC was originally established in 2012 following its initial public offering and entered a strategic partnership with BlackRock in 2018, leveraging the advisor's track record of originating approximately $48 billion in leveraged loans since 1999. TCPC primarily targets U.S.-based companies with established market positions, differentiated products, and resilient business models in less cyclical sectors, serving private equity sponsors, management teams, and small businesses seeking growth capital, acquisitions, or recapitalizations. The company maintains a diversified portfolio of about 142 investments, with no single company exceeding 2% of recurring income, and emphasizes principal protection through rigorous due diligence, active monitoring, and a focus on first-lien positions. It operates with net leverage of around 1.07x, supported by $1.2 billion in liability financing including unsecured notes, and benefits from BlackRock's global platform for enhanced origination, research, and deal flow. In recent developments, TCPC completed a merger with BlackRock Capital Investment Corp. in March 2024, treated as an asset acquisition that expanded its portfolio to over $2.1 billion, issued 27.8 million shares to former BCIC shareholders, and delivered expense synergies alongside improved capital access. The company repurchased $4.5 million in common stock under a $50 million program during 2024 and, in Q2 2025, deployed $111.5 million in new senior secured loans and equity across 13 portfolio companies at a 10.8% yield while reducing non-accruals to 3.7% of fair value from 5.6% at year-end 2024. These moves support ongoing portfolio repositioning, dividend coverage with net investment income of $0.32 per share exceeding the $0.25 regular and $0.04 special dividends, and net asset value of $8.71 per share as of June 30, 2025.
Company News
Blackrock Tcp Capital (NASDAQ:TCPC) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why
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BlackRock TCP Capital Corp (TCPC) Q2 2026 Earnings Call Transcript
BlackRock TCP (TCPC) Beats Q2 Earnings and Revenue Estimates
BlackRock TCP Capital Corp. Announces Second Quarter 2026 Financial Results and $523 Million Portfolio Sale
Portnoy Law Firm Announces Class Action on Behalf of BlackRock TCP Capital Corp. Investors
Earnings Preview: BlackRock TCP (TCPC) Q2 Earnings Expected to Decline
Portnoy Law Firm Announces Class Action on Behalf of BlackRock TCP Capital Corp. Investors
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BlackRock TCP Capital Corp. to Report Second Quarter ended June 30, 2026 Financial Results on August 6, 2026
BlackRock TCP Capital Corp. to Report Second Quarter ended June 30, 2026 Financial Results on August 6, 2026
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