BlackRock TCP Capital Corp. is an externally-managed specialty finance company focused on middle-market lending. We have elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. Our stock is traded on NASDAQ under the ticker symbol “TCPC”. BlackRock TCP Capital Corp.’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. We invest primarily in debt of private, middle-market companies with enterprise values typically between $100 million and $1.5 billion, including complex situations requiring specialized industry knowledge. While we invest primarily in senior debt instruments, we have the flexibility to provide financing solutions at any level of the capital structure. With our rigorous approach to due diligence, active investment monitoring and long-term perspective, we are an ideal partner for companies and sponsors seeking a stable source of capital.
BlackRock TCP Capital Corp.’s investment activities benefit from the competitive advantages of our investment advisor, Tennenbaum Capital Partners, LLC (“TCP”), including the deep skills and diverse experience of its investment professionals, its proprietary deal flow, and its consistent and rigorous investment process. On August 1, 2018, our advisor was merged with and into an indirect wholly-owned subsidiary of BlackRock Inc. (“Black Rock”). The combination with BlackRock couples TCP’s longstanding experience and strong track record in private credit origination and underwriting with BlackRock’s credit expertise, brand, and global scope, providing TCPC with access to greater resources to provide a more complete solution to middle market companies.
BlackRock TCP Capital Corp.’s primary investment focus is the origination of and investment in debt securities of performing middle-market companies, building on TCP’s established track record in direct lending which includes more than 500 investments totaling in excess of $13 billion since 2000. Investments generally range from $10 million to $50 million per company.
BlackRock TCP Capital Corp.’s target investments are generally in companies with established market positions, proven and differentiated products and strong regional or national operations. While our focus is on directly originated loans, we also have the flexibility to invest in secondary-market investment opportunities.
BlackRock TCP Capital Corp.’s focus is primarily on U.S. companies where we believe TCP’s perspective, complementary skills and investment experience provide us with a competitive advantage and in industries where TCP sees an attractive risk/reward profile based on macroeconomic trends and existing TCP industry expertise.