Highest-materiality recent filing
BlackRock TCP Capital closes $535.8M CLO securitization, repays existing debt facilities
Issued $270.6M AAA(sf) Class A-1 notes at SOFR+1.55% and $54.1M Class A-2 at SOFR+1.80%.
BlackRock TCP Capital Corp Q1 NII $0.22; NAV falls to $6.72; declares $0.17 dividend
GAAP net investment income $18.5M ($0.22/diluted share); adjusted NII $0.21/share.
BlackRock TCP Capital Q4 NII $0.26; NAV drops 19% to $7.07; dividend cut to $0.17
GAAP NII $22.1M ($0.26/sh); adjusted NII $0.25/sh; Q4 net decrease in net assets $118.3M (-$1.39/sh).
TCPC prelim Q4 NAV down ~19% to $7.05-$7.09; cites issuer-specific declines
Preliminary NAV per share $7.05-$7.09, down ~19% from $8.71 at Sept 30, 2025.
TCPC reports Q3 NII of $0.32/sh, exceeds dividend; non-accruals down to 3.5%
Net investment income $27.3M ($0.32/sh), exceeding $0.25 regular and $0.04 special dividend paid in Q3.
GAAP NII $27.6M ($0.32/diluted) exceeding regular dividend; adjusted NII $26.3M ($0.31/diluted).
TCPC amends $200M credit facility to extend through July 2027; appoints Charles Park as CCO
Sixth Amendment extends revolving period under $200M facility to July 31, 2027 (previously Aug 4, 2025).
TCPC Q1 NII $0.38/sh beats dividend; non-accruals improve to 4.4%; declares $0.04 special
GAAP NII of $32.2M ($0.38/sh) exceeded combined regular ($0.25) and special ($0.04) dividends.
BlackRock TCP Capital Q4 adjusted NII $0.36/sh; NAV drops to $9.23; dividend cut; non-accruals rise
Q4 2024 adjusted NII $0.36/share; full-year adjusted NII $1.52/share.
TCP Capital corrects Q4 earnings: net unrealized loss $72.3M, cuts regular dividend to $0.25
Corrected Q4 net unrealized loss $72.3M ($0.85/share); GAAP NII $33.8M ($0.40), adjusted NII $30.8M ($0.36).
Acquisition for 12.1M SubCo Units exchangeable into BlackRock common; ~$12B total consideration.
BlackRock TCP Capital Q3 NII $0.40/share, special dividend $0.10; NAV $10.11
GAAP NII $33.9M ($0.40/share); adjusted NII $30.8M ($0.36), covering regular $0.34 dividend 106%.
BlackRock TCP Capital appoints Philip Tseng as Chair and CEO, replacing Rajneesh Vig
Rajneesh Vig resigns as Chair and CEO effective Nov 6, 2024, to pursue other opportunities; no disagreement with company.
BlackRock TCP Capital Q2 NII $0.42/share; NAV falls to $10.20; declares $0.34 dividend
GAAP NII $0.42 per share; adjusted NII $0.38 per share; dividend coverage 112% (0.34 dividend).
TCPC subsidiary amends credit facility extending maturity to 2029 and lowering SOFR adjustment
Amendment No. 7 to A&R Senior Secured Revolving Credit Agreement extends maturity date to August 1, 2029 (from 2024).
BlackRock TCP Capital Q1 NII $0.46/sh; NAV $11.14; declares $0.34 Q2 dividend
Net investment income $28.3M ($0.46/sh) covered the $0.34 dividend; adjusted NII $27.7M ($0.45/sh).
BlackRock TCP Capital completes BCIC merger; exchange ratio 0.3834 per share
Merger closed effective March 18, 2024; BCIC merged into a subsidiary of TCPC.
BlackRock TCP Capital closes merger with BCIC; combined company trades as TCPC
BCIC shareholders receive 0.3834 TCPC shares per BCIC share; combined ownership 67.5% legacy TCPC, 32.5% former BCIC.
BlackRock TCP Capital Corp. expects BCIC merger to close on March 18, 2024
Merger of BlackRock Capital Investment Corporation (BCIC) into a wholly-owned subsidiary of BlackRock TCP Capital Corp.
TCPC and BCIC shareholders approve merger with >90% votes in favor
Shareholders of TCPC (NASDAQ: TCPC) and BCIC (NASDAQ: BKCC) each voted >90% in favor of the merger at March 7 special meetings.
BlackRock TCP Capital Q4 NII $0.44/share, NAV falls to $11.90; merger with BCIC on track
Q4 NII $25.3M ($0.44/diluted share) exceeded $0.34 dividend; 47 consecutive quarters of dividend coverage.
Estimated future quarterly dividends: $0.34/share for TCPC, $0.10/share for BCIC through Dec 2028.
TCPC supplements merger proxy with NAV, dividend projections; meeting March 7
Two stockholder demand letters alleged misleading statements in merger proxy; BCIC supplements disclosures without admitting merit.
On January 27, 2025, Ariel Hazzard resumed her role as Chief Compliance Officer (“CCO”) of BlackRock TCP Capital Corp. (“the Company”) upon her return from parental leave.
Charles Park served as Interim CCO during Ms. Hazzard’s absence, and Mr. Park’s interim appointment ended upon Ms. Hazzard’s return.
The Board of the Company previously had appointed Mr. Park as Interim CCO of the Company to become effective as of the date Ms. Hazzard began parental leave.
Mr. Tseng will continue to serve as President of the Company, BDLC and BlackRock Private Credit Fund (“BDEBT”) until the close of business on November 6, 2024.
On September 16, 2024, the Board of the Company appointed Philip Tseng as Chair of the Board of Directors of the Company and as CEO of the Company, with the appointments effective as of the close of business on November 6, 2024.
· Patrick Wolfe to the position of Chief Operating Officer
· Dan Worrell to the position of Co-Chief Investment Officer
On September 16, 2024, Rajneesh Vig informed BlackRock TCP Capital Corp. (the “Company”) of his resignation from his positions as Chair of the Board of Directors of the Company and as Chief Executive Officer (“CEO”) of the Company, effective as of the close of business on November 6, 2024, to pursue other business opportunities outside of BlackRock, Inc.
· Jason Mehring to the position of President
· Philip Tseng to the position of Co-Chief Investment Officer
On August 1, 2024, the Board of BlackRock TCP Capital Corp. (the “Company”) appointed Philip Tseng to the Board of Directors of the Company, with the appointment effective immediately.
On May 8, 2024, the Board of BlackRock TCP Capital Corp. (the “Company”) appointed Jason Mehring as Chief Operating Officer (“COO”) of the Company, with the appointment effective immediately.
Max materiality 0.90 · Median 0.60 · Most common event earnings