BlackRock TCP Capital (TCPC)
Originates and invests in debt of performing middle-market companies.
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An externally managed BDC that originates and invests in debt securities of performing middle-market companies. Its credit portfolio includes the former BCIC portfolio, and the investment vehicle is managed by an indirect BlackRock subsidiary.
Originates and invests in debt securities of performing middle-market companies as an externally managed business development company.
Income is generated through a credit portfolio. The stated objective combines current income and capital appreciation with an emphasis on principal protection. The portfolio incorporates the former BCIC portfolio following the BDC merger.
The corporate base is in Santa Monica, California. It is externally managed by an indirect BlackRock subsidiary rather than a conventional internal operating platform. Regulation as a BDC under the Investment Company Act of 1940 and the external-management model shape its operations.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 10, 2026 | Keefe, Bruyette & Woods | Upgrade | ||
| Aug 7, 2026 | BlackRock | Target | Target: — | Target: $4 |
| Mar 3, 2026 | Keefe, Bruyette & Woods | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $157.5M · Total debt $910.6M · Total assets $1.48B · Shareholders' equity $552.0M
- Revenue
- $40.0M
- Operating income
- $18.1M
- Net income
- $1.7M
HistoryDividendAnnual yield
| Institutions | 26.00% | 21.81M shares | |
|---|---|---|---|
| 118 holders · as of Jun 30, 2026 | |||
| Insiders | 0.32% | 266.1K shares | |
| 7 holders · as of Mar 17, 2026 | |||
| Other | 73.68% | 61.82M shares | |
| remainder | |||
83.90M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Next Capital Management LLCInstitution | 3.73% | 3.13M | as of Jun 30, 2026 |
UBS Group AGInstitution | 3.12% | 2.62M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 2.83% | 2.38M | as of Jun 30, 2026 |
Van Eck Associates CorpInstitution | 2.50% | 2.10M | as of Jun 30, 2026 |
Victory Capital Management IncInstitution | 1.61% | 1.35M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 13, 2026 | Patrick Wolfe | officer: Chief Operating Officer | +8,925 | $3.65 |
| Mar 6, 2026 | Jason Mehring | officer: President | +6,500 | $3.86 |
| Mar 6, 2026 | August Daniel Worrell | officer: Co-Chief Investment Officer | +40,000 | $3.89 |
| Mar 10, 2026 | August Daniel Worrell | officer: Co-Chief Investment Officer | +40,000 | $3.75 |
| Mar 6, 2026 | Erik L. Cuellar | officer: CFO | +1,750 | $3.86 |
- Ares Capital
Direct loans and other capital for U.S. private middle-market borrowers
- Blackstone Secured Lending Fund
First-lien senior debt for private U.S. companies
- Blue Owl Capital
Direct lending and senior secured loans to U.S. middle-market companies
- FS KKR Capital
Customized credit for private U.S. middle-market companies
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| BlackRock TCP Capital | $4.11 | +1.61% | $339.0M | — | 9.9 | 2.5 | +1,499.2% |
| Ares Capital | $19.41 | −0.18% | $13.96B | 14.4 | 10.1 | 6.0 | +32.6% |
| Blackstone Secured Lending Fund | $24.88 | −0.34% | $5.81B | 19.6 | 9.5 | 5.5 | +25.9% |
| Blue Owl Capital | $11.18 | −0.13% | $5.55B | 20.0 | 8.7 | 3.9 | −20.8% |
| FS KKR Capital | $11.43 | −0.04% | $3.20B | — | 7.3 | 3.4 | +11.5% |
| Median | 19.6 | 9.1 | 4.7 | +18.7% |