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BlackRock TCP Capital Corp. (Nasdaq: TCPC)

Management and Investment Committee

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Management

Phil Tseng, Chairman, Chief Executive Officer & Co-CIO

Mr. Tseng, Managing Director, is the Chief Executive Officer (“CEO”), Co-Chief Investment Officer (“Co-CIO”), Director and Chairman of BlackRock TCP Capital Corp. (“TCPC”), BlackRock Private Credit Fund (“BDEBT”), and BlackRock Direct Lending Corp. (“BDLC”).

Mr. Tseng is a senior member of the investment team within BlackRock's Private Financing Solutions (PFS) platform, where he leads BlackRock's U.S. core middle market direct lending strategy.  In this capacity, Mr. Tseng is responsible for oversight of the strategy’s investment process and plays a leadership role in the evaluation, structuring, and execution of private secured investments in U.S. core middle market companies. 

Prior to joining BlackRock, Mr. Tseng was a Managing Partner at Tennenbaum Capital Partners (TCP), where he was also a member of the Management Committee.  Prior to joining TCP, Mr. Tseng was a member of the Credit Suisse First Boston technology investment banking group focusing on technology and business services.  While at CSFB, he advised on and executed M&A, public and private equity and structured debt transactions for a broad range of small and large cap companies.  He also spent time covering technology services companies as an equity research analyst.  Prior to that, he spent time in investment banking at Deutsche Banc Alex Brown. 

Mr. Tseng holds an M.B.A. from Harvard Business School and a B.A. (honors) in Economics from Harvard College.

Dan Worrell, Co-CIO

Mr. Worrell, Managing Director, serves as the Co-CIO of BlackRock TCP Capital Corp (“TCPC”), BlackRock Private Credit Fund (“BDEBT”) and BlackRock Direct Lending Corp. (“BDLC”). Mr. Worrell is a senior member of the investment team within BlackRock’s Private Financing Solution (PFS) platform, where he is a leader in BlackRock’s U.S. core middle market direct lending strategy. In this capacity, Mr. Worrell is responsible for oversight of the strategy’s investment process and plays a leadership role in the evaluation, structuring, and execution of private secured investments in U.S. core middle market companies.

Prior to joining BlackRock, Mr. Worrell was a Managing Director at Tennenbaum Capital Partners (TCP) where he led investment activity across several industry verticals, including Healthcare, Consumer Brands, Retail, and Consumer and Specialty Finance.  Prior to TCP, Mr. Worrell was a High Yield Portfolio Manager with Mulholland Capital Advisors.

Mr. Worrell holds an M.B.A. from Columbia University and a B.S. from California State University, Northridge.

Jason Mehring, President

Mr. Mehring, Managing Director, is the President of BlackRock TCP Capital Corp. (“TCPC”), BlackRock Private Credit Fund (“BDEBT”) and BlackRock Direct Lending Corp. (“BDLC”). Mr. Mehring is a senior member of the investment team within BlackRock's Private Financing Solutions (PFS) platform. Mr. Mehring plays a leadership role in the evaluation, structuring, and execution of private secured investments in U.S. core middle market companies.  Jason has over 30 years' experience in middle market investing including his 19 years' experience with the BlackRock team, joining as a Managing Director at BlackRock Capital Investment Corporation's former advisor in 2005. 

Mr. Mehring previously spent more than ten years at Banc of America Capital Investors (BACI), an affiliate of Bank of America, Inc., in Chicago, where he held positions of increasing responsibility, becoming a Principal of the firm in 2000.  At BACI, Mr. Mehring focused on mezzanine and private equity investing in middle market companies.  Prior to joining BACI in 1994, he worked at Firstar Bank, a predecessor to U.S. Bank.   

Mr. Mehring holds an M.B.A from the Kellogg School of Management at Northwestern University and a B.B.A., summa cum laude, in Finance and Economics from the University of Wisconsin Eau Claire (graduating with University Honors).

Patrick Wolfe, Chief Operating Officer

Mr. Wolfe, Managing Director, is the Chief Operating Officer (“COO”) of BlackRock TCP Capital Corp. (“TCPC”), BlackRock Direct Lending Corp. (“BDLC”) and BlackRock Private Credit Fund (“BDEBT”). Patrick Wolfe, Managing Director, is a senior member of the investment team within BlackRock’s Private Financing Solutions (PFS) platform where he is a leader in BlackRock’s U.S. core middle market direct lending strategy.   Mr. Wolfe is responsible for playing a leadership role in the evaluation, structuring, and execution of private secured investments in U.S. core middle market companies and focuses on portfolio construction of the U.S. core middle market portfolios including overseeing allocations, portfolio positioning, and liability management.   Mr. Wolfe is also a Portfolio Manager on BlackRock Credit Strategies Fund (CREDX). 

Mr. Wolfe joined BlackRock through the acquisition of Tennenbaum Capital Partners (“TCP”).  At TCP, Mr. Wolfe was a portfolio manager on the US Direct Lending Funds and launched the middle-market CLO platform as well as co-leading the development of the firm's proprietary private credit software platform, and was the creator of the Direct Lending fund structure designed (DLF Insurance CLO) for insurance company clients.  Before TCP, Mr. Wolfe was in structured credit at Deutsche Bank for six years focusing on the structuring, issuance, and management of CLOs and other credit strategies. He began his career in 2006 at KSJG LLP in the Advisory group focused on mortgage banking. 

Mr. Wolfe earned a B.S. in Accounting from San Diego State University in 2006. 

Erik L. Cuellar , Chief Financial Officer

Mr. Cuellar, Director, is the Chief Financial Officer (“CFO”) of BlackRock TCP Capital Corp. (“TCPC”), BlackRock Private Credit Fund (“BDEBT”) and BlackRock Direct Lending Corp. (“BDLC”) and is responsible for financial and regulatory reporting. Mr. Cuellar has been at BlackRock and its predecessor, TCP Capital, since 2011.

Prior to his current role, Mr. Cuellar served as Controller for Ares Capital Corporation. Prior to that, Mr. Cuellar was with Metropolitan West Asset Management where he served as the Assistant Treasurer and Principal Accounting Officer for the Metropolitan West Funds. Prior to that, Mr. Cuellar managed the Alternative Investments Group at Western Asset Management Company. Mr. Cuellar began his career with Deloitte & Touche LLP where he was a Senior Auditor in their Financial Services Group.

 

Mr. Cuellar earned a B.S. in Accounting from California State University Northridge and is a Certified Public Accountant in California.

Diana Huffman, General Counsel and Secretary

Ms. Huffman, Executive Director, serves as General Counsel and Secretary of BlackRock’s Business Development Companies: TCP Capital Corp. (“TCPC”), BlackRock Private Credit (“BDEBT”) and BlackRock Direct Lending Corp. (“BDLC”).

Ms. Huffman was also previously General Counsel for BlackRock Capital Investment Corporation, prior to its merger with TCPC in March 2024. Ms. Huffman is Legal Counsel in the Legal & Compliance Department at BlackRock. She is responsible for supporting BlackRock's U.S. regulated funds business, with a focus on retail alternatives. Ms. Huffman advises on a broad array of legal and regulatory issues impacting U.S. regulated funds, including product development and corporate governance matters.

Prior to joining BlackRock in 2022, Ms. Huffman served as Corporate Counsel at PGIM Investments LLC starting in 2015, where she served as Chief Legal Officer for its BDC and as the lead attorney for retail funds (mutual funds, actively-managed ETFs, and closed-end funds). From 2009 to 2015, Ms. Huffman was an associate in the Asset Management group at Willkie Farr & Gallagher LLP, where she focused on the organization and operation of private and regulated funds.

Ms. Huffman earned a JD degree (cum laude) from Fordham University School of Law and a BA degree (summa cum laude) in International Relations from Boston University.

Charles Park, Chief Compliance Officer

Mr. Park, Managing Director, is the Chief Compliance Officer (“CCO”) of BlackRock TCP Capital Corp (“TCPC”), BlackRock Private Credit Fund (“BDEBT”) and BlackRock Direct Lending Corp. (“BDLC”), as well as two alternative closed-end funds. Mr. Park is Head of Americas Compliance and Global Head of Investment Advisory Compliance. He is also the Chief Compliance Officer for BlackRock's US registered investment advisers, including the investment advisers to the BlackRock BDCs. In this capacity, Mr. Park supervises the teams that provide compliance support to the BlackRock retail and institutional businesses in the Americas, including global compliance surveillance and regulatory engagement and development.

Mr. Park has deep experience in US regulatory compliance impacting investment advisers and investment companies. Mr. Park served as CCO of the BlackRock BDCs until April 2024. He has served as a chief compliance officer to registered investment advisers and registered investment companies since the inception of the CCO rules in the US in 2004, serving as the CCO for BlackRock's US mutual funds and ETFs until 2023. In that capacity, he has overseen compliance programs for firms managing assets in all asset classes and product types. Prior to becoming a CCO in 2004, Mr. Park was a practicing attorney representing investment advisers and investment companies on regulatory and governance matters.

Mr. Park earned a BA degree in Economics and a JD from University of Michigan in 1989 and 1992, respectively.

Investment Committee

Philip Tseng, Managing Director, Chairman, Chief Executive Officer & Co-CIO

Mr. Tseng, Managing Director, is the Chief Executive Officer (“CEO”), Co-Chief Investment Officer (“Co-CIO”), Director and Chairman of BlackRock TCP Capital Corp. (“TCPC”), BlackRock Private Credit Fund (“BDEBT”), and BlackRock Direct Lending Corp. (“BDLC”).

Mr. Tseng is a senior member of the investment team within BlackRock's Private Financing Solutions (PFS) platform, where he leads BlackRock's U.S. core middle market direct lending strategy.  In this capacity, Mr. Tseng is responsible for oversight of the strategy’s investment process and plays a leadership role in the evaluation, structuring, and execution of private secured investments in U.S. core middle market companies. 

Prior to joining BlackRock, Mr. Tseng was a Managing Partner at Tennenbaum Capital Partners (TCP), where he was also a member of the Management Committee.  Prior to joining TCP, Mr. Tseng was a member of the Credit Suisse First Boston technology investment banking group focusing on technology and business services.  While at CSFB, he advised on and executed M&A, public and private equity and structured debt transactions for a broad range of small and large cap companies.  He also spent time covering technology services companies as an equity research analyst.  Prior to that, he spent time in investment banking at Deutsche Banc Alex Brown.  

Mr. Tseng holds an M.B.A. from Harvard Business School and a B.A. (honors) in Economics from Harvard College.

Dan Worrell, Managing Director & Co-CIO

Mr. Worrell, Managing Director, serves as the Co-CIO of BlackRock TCP Capital Corp (“TCPC”), BlackRock Private Credit Fund (“BDEBT”) and BlackRock Direct Lending Corp. (“BDLC”). Mr. Worrell is a senior member of the investment team within BlackRock’s Private Financing Solution (PFS) platform, where he is a leader in BlackRock’s U.S. core middle market direct lending strategy. In this capacity, Mr. Worrell is responsible for oversight of the strategy’s investment process and plays a leadership role in the evaluation, structuring, and execution of private secured investments in U.S. core middle market companies.

Prior to joining BlackRock, Mr. Worrell was a Managing Director at Tennenbaum Capital Partners (TCP) where he led investment activity across several industry verticals, including Healthcare, Consumer Brands, Retail, and Consumer and Specialty Finance.  Prior to TCP, Mr. Worrell was a High Yield Portfolio Manager with Mulholland Capital Advisors.

Mr. Worrell holds an M.B.A. from Columbia University and a B.S. from California State University, Northridge.

Jason Mehring, Managing Director & President

Mr. Mehring, Managing Director, is the President of BlackRock TCP Capital Corp. (“TCPC”), BlackRock Private Credit Fund (“BDEBT”) and BlackRock Direct Lending Corp. (“BDLC”). Mr. Mehring is a senior member of the investment team within BlackRock's Private Financing Solutions (PFS) platform. Mr. Mehring plays a leadership role in the evaluation, structuring, and execution of private secured investments in U.S. core middle market companies.  Jason has over 30 years' experience in middle market investing including his 19 years' experience with the BlackRock team, joining as a Managing Director at BlackRock Capital Investment Corporation's former advisor in 2005. 

Mr. Mehring previously spent more than ten years at Banc of America Capital Investors (BACI), an affiliate of Bank of America, Inc., in Chicago, where he held positions of increasing responsibility, becoming a Principal of the firm in 2000.  At BACI, Mr. Mehring focused on mezzanine and private equity investing in middle market companies.  Prior to joining BACI in 1994, he worked at Firstar Bank, a predecessor to U.S. Bank.   

Mr. Mehring holds an M.B.A from the Kellogg School of Management at Northwestern University and a B.B.A., summa cum laude, in Finance and Economics from the University of Wisconsin Eau Claire (graduating with University Honors). 

Rob DiPaolo, Managing Director

Mr. DiPaolo, Managing Director, is a senior member of the investment team within Blackrock’s Private Financing Solutions (PFS) platform where he is a leader in BlackRock’s U.S. core middle market direct lending strategy.  Mr. DiPaolo is responsible for playing a leadership role in the evaluation, structuring, and execution of private secured investments in U.S. core middle market companies with an industry focus on building products, transportation, industrial services, agriculture and engineering and construction. He has been at BlackRock and its predecessor, Tennenbaum Capital Partners, since 1999.  Prior to his current role, Mr. DiPaolo was the firm’s Chief Financial Officer and was responsible for building Tennenbaum’s financial reporting, processes and controls and operating infrastructure. Preceding Tennenbaum, Mr. DiPaolo was Vice President at Trust Company of the West, spent seven years at Arthur Andersen as a Business Advisory and Consulting Manager and began his career in 1989, spending five years at May Department Stores as a profit improvement specialist and control division accountant. Mr. DiPaolo earned a B.S. from the University of California, Riverside and is a CPA in the State of California.

Vikas Keswani, Managing Director

Mr. Keswani, Managing Director, is a senior member of the investment team within BlackRock’s Private Financing Solutions (PFS) platform.  He is also Head of North American Specialty Lending at HPS, a part of BlackRock.  In this capacity, Mr. Keswani plays a leadership role in sourcing, evaluating, structuring, and executing private senior secured investments across a variety of industries. Prior to joining HPS in 2010, Mr. Keswani spent a majority of his career at BlackRock, where he was a part of the initial team that established, structured and capitalized BlackRock Capital Investment Corporation (NASDAQ: BKCC), a publicly traded private investment vehicle. Mr. Keswani is a CFA charterholder and holds a BSE, magna cum laude, from The Wharton School at the University of Pennsylvania.

Michael Fenstermacher, Managing Director

Mr. Fenstermacher, Managing Director, is a senior member of the investment team within BlackRock’s Private Financing Solution (PFS) platform. He is also Co-Head of North American Core Senior Lending at HPS, a part of BlackRock. In this capacity, Mr. Fenstermacher plays a leadership role in sourcing, evaluating, structuring, and executing private senior secured investments across a variety of industries. Prior to joining HPS in 2008, Mr. Fenstermacher was an Associate at JPMorgan’s Leveraged Finance Group, where he originated, underwrote and distributed high yield bonds and leveraged loans. During his four years with JPMorgan, Mr. Fenstermacher specialized in financial sponsor transactions. Prior to joining JPMorgan, Mr. Fenstermacher spent two years at Bank One as a Credit Analyst in the Automotive and Financial Institutions groups. Mr. Fenstermacher holds a BS from Indiana University.

Grishma Parekh, Managing Director

Ms. Parekh, Managing Director, is a senior member of the investment team within BlackRock’s Private Financing Solutions (PFS) platform.  She is also Co-Head of North American Core Senior Lending at HPS, a part of BlackRock, as well as the President of HPS Corporate Lending Fund, a non-traded BDC managed by HPS.  In this capacity, Ms. Parekh plays a leadership role in sourcing, evaluating, structuring, and executing private senior secured investments across a variety of industries.  Prior to joining HPS in 2020, Ms. Parekh spent over twelve years as a Partner and Managing Director at The Carlyle Group. During her tenure at The Carlyle Group, Ms. Parekh was a founding member of the Direct Lending platform, served as Head of Origination for Illiquid Credit, and was a member of the Investment Committee for the Direct Lending business. Prior to joining The Carlyle Group in 2007, Ms. Parekh was an Investment Banking Associate at JPMorgan where she was responsible for originating, structuring and executing high yield bond and leveraged loan transactions. Ms. Parekh holds a BS in Finance and Information Systems from the Stern School of Business at New York University.