← Back

BlackRock TCP Capital Corp

BlackRock TCP Capital Corp. is a business development company that focuses on direct equity and debt investments. It invests in middle-market and small businesses, as well as debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. The company targets sectors such as communication services, public relations, television, wireless telecommunications, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, patent owners and lessors, federal and federally sponsored credit agencies, insurance, hospitals and healthcare centers, biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, IT consulting, application hosting, software design, computer-aided design, communication equipment, electronics manufacturing equipment, computer components, and chemicals. It seeks investments in the United States, typically investing between $10 million and $35 million in debt of companies with enterprise values between $100 million and $1.5 billion, including complex situations, and prefers equity investments for ownership stakes.

Price · split & dividend adjusted
News & notes moving TCPC
United States
Digital Finance & Tokenization▲

BlackRock Explores Sale of TCPC's Remaining $671 Million Loan Portfolio

BlackRock is exploring the sale of BlackRock TCP Capital Corp.'s remaining $671 million loan portfolio as part of an effort to clean up a weaker legacy asset. The move follows TCPC's recent sale of roughly $523 million of investments across 78 portfolio companies, which helped strengthen its balance sheet and lower leverage. The board is also evaluating options such as returning capital to shareholders, reinvesting proceeds, or pursuing a merger. BlackRock significantly expanded its private-credit presence through the acquisition of HPS Investment Partners, completed in July 2025, which brought $165 billion of client assets under management and $118 billion of fee-paying AUM. Per Bloomberg, Ares Management is among firms approached for the TCPC loan portfolio, while KKR continues to view private credit as an attractive long-term opportunity despite rising defaults.
TCPC ▲BLK
Digital Finance & Tokenization
About megatrends
Digital Finance & Tokenization › Tokenized Funds & Treasuries (Asset Managers) Competition
TCPC · Capital · Positive Sale of remaining loan portfolio and balance sheet strengthening are positive for TCPC.
BLK · Capital · Neutral BlackRock is exploring sale of TCPC's portfolio, but impact on BlackRock itself is unclear.
Read original ↗
Zacks Investment Research·43dRead more →
Digital Finance & Tokenization▼3impact 4

BlackRock TCP Capital CEO Phil Tseng departs amid valuation probe and mounting losses

Phil Tseng is leaving his role as chief executive officer of BlackRock TCP Capital Corp., a publicly traded business development company that is part of BlackRock’s private credit platform, according to sources familiar with the matter. The departure comes as the fund faces ongoing losses, significant asset markdowns, and a federal investigation into its valuation practices. Total markdowns reached $35 million in the first quarter, and in January the fund reported an estimated 19% decline in net asset value, largely tied to portfolio restructurings. BlackRock executives were questioned by the Manhattan U.S. Attorney’s Office in May regarding the fund’s valuation practices, and later that month BlackRock slashed TCP Capital’s value by approximately 5%. BlackRock acquired HPS Investment Partners, which included TCP Capital, for about $12 billion last year, and has been rapidly expanding into private credit despite recent market turmoil.
TCPC ▼BLK ▼
Digital Finance & Tokenization ▼
About megatrends
Digital Finance & Tokenization › Real-World Asset Tokenization ▼Regulation
TCPC · Capital · Negative CEO departure, ongoing losses, asset markdowns, and federal investigation into valuation practices directly impact the fund's financial health and investor confidence.
BLK · Regulation · Negative Federal investigation into valuation practices at BlackRock TCP Capital Corp. could lead to regulatory scrutiny and reputational damage for BlackRock Inc.
Read original ↗
Yahoo Finance·94dRead more →
© 2026 MarketIVAsset