BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, debt securities, 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 including complex situations. It prefers to make equity investments in companies for an ownership stake.
BlackRock TCP Capital Corp. Announces Second Quarter 2026 Financial Results and $523 Million Portfolio Sale
BlackRock TCP Capital reported Q2 net investment income of $0.22 per share, covering its $0.17 dividend, while net asset value per share dipped to $6.58 from $6.72 in the prior quarter.
The company entered into a definitive agreement to sell 95% of a $523 million portfolio vehicle to Pantheon, a move expected to reduce net leverage from 1.38x to approximately 0.4x pro forma but will result in a 10.4% decline in NAV.
Concurrent with the portfolio repositioning, the board engaged KBW to conduct a strategic review of alternatives and declared a flat third-quarter dividend of $0.17 per share.