BlackRock TCP Capital Corp. filings document the regulatory record of a business development company that lends to middle-market companies and small businesses. Its disclosures cover operating results, portfolio valuation processes, dividend announcements, capital-structure matters, and the investment objective of generating current income and capital appreciation through debt investments.
TCPC's SEC filings include Form 8-K material-event reports for financial results, Regulation FD disclosures, dividends, and financing arrangements, including credit-facility amendments involving a wholly owned subsidiary. Proxy filings document annual meeting matters, director elections, board governance, and stockholder voting procedures.
BlackRock TCP Capital Corp. (TCPC) holds a highly diversified portfolio of primarily floating-rate corporate credit. The positions shown span first lien and second lien term loans, senior secured revolvers, subordinated and participation loans, and select unsecured notes, many referencing SOFR, prime, LIBOR or EURIBOR with floors typically between 0% and 3% and spreads that produce total coupons often in the high single to mid-teens.
The borrowers operate across software, internet services, professional and financial services, healthcare, industrials, real estate and consumer sectors, with contractual maturities ranging from 2025 out to 2032. TCPC also holds equity, preferred units and warrant positions in a wide range of private companies and affiliates, plus interest rate swaps where it receives fixed and pays floating 1‑day SOFR, adding a hedging and potential upside component alongside its interest income.
BlackRock TCP Capital Corp. Chief Operating Officer Patrick Wolfe reported derivative awards and a stock sale. On January 30, 2026, he converted 6,136.39 phantom-share equivalents into common stock and disposed of the same 6,136.39 common shares at $5.18 per share, leaving 9,235.981 common shares directly owned.
He also reported activity in cash-settled phantom shares, which are economically equivalent to common stock. After the transactions, Wolfe directly held 2,392.85, 7,487.09, and 2,779.92 phantom shares in three separate awards that vest in equal installments over three years under the company’s deferred compensation arrangements.
BlackRock TCP Capital Corp. President Jason Mehring reported multiple equity-related transactions involving common stock and phantom shares. On January 30, 2026, he exercised 5,597.69 common shares through a transaction coded "M" and then disposed of the same 5,597.69 common shares at $5.18 per share.
Following these moves, he directly held 22,708.3537 common shares. Mehring also reported activity in deferred compensation-linked phantom shares, which are economically equivalent to common stock but payable in cash upon vesting under the company’s Involuntary Deferred Compensation Plan and related awards.
BlackRock TCP Capital Corp.'s Co-Chief Investment Officer, Worrell August Daniel, reported transactions involving common stock and phantom share units. On January 30, 2026, he converted 11,983.2 phantom shares, which are cash-settled units economically equivalent to common stock, into the same number of common shares at no cost.
He then sold 11,983.2 common shares at a price of $5.18 per share. Following these transactions, he directly owned 33,500 common shares, and his reported holdings also included 11,983.2 phantom shares that are payable in cash upon vesting under the company’s involuntary deferred compensation plan.
BlackRock TCP Capital Corp. released preliminary, unaudited estimates for its quarter ended December 31, 2025, highlighting pressure on its net asset value per share. Management estimates that certain portfolio companies were the biggest negative contributors, accounting for about $1.11 per share of the decline in net asset value per share and roughly 67% of the overall decrease. To soften the impact on earnings, the Company’s investment adviser voluntarily agreed to waive one-third of its base management fee for the fourth quarter of 2025, which management estimates adds about $0.02 per share of benefit. These figures are subject to change because closing procedures and auditor work are not yet complete, and the independent auditor has not reviewed these preliminary numbers. Final full-year and fourth-quarter 2025 results are expected to be released, with a conference call, on February 27, 2026.
BlackRock TCP Capital Corp. (TCPC) furnished a press release announcing its financial results for the third quarter ended September 30, 2025, as Exhibit 99.1 to a current report.
The company also declared a fourth-quarter dividend of $0.25 per share, payable on December 31, 2025 to stockholders of record as of the close of business on December 17, 2025. The disclosures under Items 2.02 and 7.01, including Exhibit 99.1, were furnished and not filed under the Exchange Act.
BlackRock TCP Capital Corp. focuses on a broad portfolio of primarily senior secured corporate loans across software, internet services, insurance, construction, healthcare, media, and consumer sectors. Most positions are first lien or second lien term loans and senior secured revolvers tied to SOFR or prime, typically with contractual floors and sizable credit spreads.
The portfolio includes many higher-yielding structures with cash and payment-in-kind (PIK) components, such as Callodine Commercial Finance at a total coupon of 15.59% and Gordon Brothers Finance Company unsecured debt at 15.36%. Maturities are generally laddered from 2025 through 2032, spreading credit and refinancing risk over multiple years.
In addition to debt, the company holds a wide range of equity, preferred units, and warrant positions in private companies worldwide, including technology, energy, financial services, and consumer businesses. These equity and warrant stakes provide potential upside alongside the interest income from the loan book.