BlackRock TCP Capital Corp. (TCPC)

Profile

https://www.tcpcapital.com

BlackRock TCP Capital Corp. is an externally managed specialty finance company and business development company focused on direct lending to middle-market companies with enterprise values typically between $100 million and $1.5 billion. Its investment objective is to achieve high total returns through current income and capital appreciation, emphasizing principal protection via a diversified portfolio primarily consisting of senior secured first-lien debt instruments, alongside second-lien loans, mezzanine debt, and select equity co-investments. The company targets sponsor-backed transactions in sectors such as consumer products, healthcare, business services, and industrials, providing customized financing solutions including complex situations requiring specialized industry knowledge. With debt positions representing the majority of its portfolio—substantially all senior secured—and a high proportion of floating-rate investments with interest rate floors, BlackRock TCP Capital Corp. maintains flexibility across the capital structure while prioritizing rigorous due diligence, active monitoring, and a long-term perspective. Externally managed by an indirect subsidiary of BlackRock, Inc., it leverages extensive credit expertise, proprietary deal flow, and global resources to originate and invest in performing middle-market debt, serving as a stable capital partner for established companies with proven products and competitive advantages.