BlackRock TCP Capital Corp.

# BlackRock TCP Capital Corp.

A business development company (BDC) headquartered in Santa Monica, California, BlackRock TCP Capital Corp. provides direct financing to middle-market and small businesses across the United States. The firm structures investments in a combination of debt and equity instruments, including senior secured loans, junior loans, mezzanine debt, and equity stakes. Investment ticket sizes typically range from $10 million to $35 million, targeting companies with enterprise values between $100 million and $1.5 billion.

The company maintains a diversified portfolio across multiple sectors, including telecommunications, retail, restaurants, energy and oil and gas, biotechnology, healthcare, information technology, electronics manufacturing, and financial services. TCPC generates returns through interest income on debt investments, equity appreciation, and dividend distributions from portfolio companies. The firm also engages in secondary-market debt purchases to supplement its primary origination activity.

As a BDC, TCPC operates under a closed-end fund structure with leverage capabilities. The company is externally managed and receives advisory and administrative support from BlackRock TCP Management, reflecting its relationship with BlackRock. Investment strategy emphasizes complex situations and direct lending where the firm can achieve senior positions in capital structures, balancing yield generation with downside protection through secured loan documentation and equity participation.