Blackrock Tcp Capital Corp. Announces Management Changes
June 02, 2021 at 02:50 am IST
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BlackRock TCP Capital Corp. announced that Rajneesh Vig will succeed Howard Levkowitz as Chairman and Chief Executive Officer and Phil Tseng will assume the roles of President and Chief Operating Officer. This transition in leadership follows BlackRock’s highly successful 2018 acquisition of Tennenbaum Capital Partners (“TCP”) that solidified BlackRock as a leading private credit manager. Howard Levkowitz, a co-founder of TCP, announced that he will be retiring from his role as Chief Executive Officer of BlackRock TCP Capital Corp. (“TCPC” or “the Company”) on August 5, 2021, and as a Director and Chairman of the Board of Directors (the “Board”) on September 30, 2021. Howard will serve as Chairman of BlackRock’s US Private Capital business until the end of the year. Raj Vig will assume the role of Chief Executive Officer on August 5, 2021, and Chairman on September 30, 2021. Phil Tseng will assume the role of Chief Operating Officer on August 5, 2021, and President on September 30, 2021. Howard, Raj and Phil led the successful integration of TCP to develop BlackRock’s US Private Capital team, which today is a leader in private credit. Raj Vig has more than 20 years of experience in the financial services industry. He joined TCP in 2006 and served as TCPC’s President and Chief Operating Officer since its IPO in 2012. He is currently Co-Head and Investment Committee Chair of BlackRock’s US Private Capital team. Phil joined TCP in 2004 and was as a managing partner prior to the BlackRock acquisition. He currently serves with Raj as Co-Head of US Private Capital.
BlackRock TCP Capital Corp. is an externally managed, closed-end, non-diversified management investment company. The Companyâs investment objective is to achieve high total returns through current income and capital appreciation. The Company invests primarily in the debt of middle-market companies, as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds. It invests in various industries, including airlines, automobiles, building products, capital markets, commercial services and supplies, communications equipment, construction and engineering, consumer finance, containers and packaging, distributors, diversified consumer services, diversified financial services, diversified telecommunication services, electric utilities, and others. Its investment portfolio consisted of 142 portfolio companies and is invested in debt investments, primarily in senior secured debt.
BLACKROCK TCP CAPITAL CORP. 
