BlackRock TCP Capital Corp. Announces 2022 Financial Results | TCPC BlackRock had an existing special situations fund in the US, run by David Trucano, a dynamic that spurred internal conflict, the person added. Edwin Conway announced to employees last September that Steenberg would start handing off his day-to-day responsibilities to the longtime executives Lynn Baranski and John Seeg, who officially started to co-lead the business as of January 1. The exodus of talent in recent years from both the TCP team and the wider private credit platform some of whom left for large alternative asset managers like Apollo and Ares comes at a highly competitive and in-demand moment for the private credit market.
TCP brings significant experience in middle market performing credit and special situations investing with seasoned investment talent and a strong long-term track record to the BlackRock global credit platform. Date acquired Ownership Employer ID; Howard Marshall Levkowitz: Managing partner: 1 May 1999: Other: 4404130: Llc Tennenbaum & Co. . | LinkedIn: www.linkedin.com/company/blackrock. Form 10-K (annual report [section 13 and 15(d), not s-k item 405]) filed with the SEC BlackRock Investor Relations
Karyn L. Williams Named Independent Director of BlackRock TCP Capital Corp. SANTA MONICA, Calif., Aug. 1, 2018 /PRNewswire/ -- BlackRock TCP Capital Corp. (NASDAQ: TCPC) (the "Company") announced today that BlackRock, Inc. (NYSE: BLK) ("BlackRock") has completed the acquisition of Tennenbaum Capital Partners, LLC ("TCP"), advisor to BlackRock TCP Capital Corp. Building an Innovative Financial Technology Ecosystem in Scotland. TCP manages funds and accounts on behalf of global The deal, whose financial terms were not divulged, was first announced in April 2018. including the investments of TCP Capital Corp. (NASDAQ: TCPC), a Lanigan, based in New York, is the chief investment officer of direct private equity and runs LTPC for the Americas. The acquisition augments BlackRocks position as a leading global credit Tarek Mahmoud runs multi-alternative solutions where BlackRock advises clients investing in various types of alternative assets and chairs the Europe, Middle East, and Africa region for BlackRock Alternatives. Chouman has said he sees two dimensions to Aladdin's future growth: clients demanding a more sophisticated, all-encompassing view of their alternative assets, and the business' operations in an increasingly complex area where different models are intertwined. The acquisition is the next step in BlackRocks efforts to expand its capabilities and impact of its alternatives business globally. Forward-looking statements involve risks and uncertainties in predicting future results and conditions. All of us are working hard to meet the needs of our clients.". About us. the firm managed approximately $6.3 trillion in assets on behalf of The unit will work with portfolio managers and BCM, the firm's capital markets group, to source and back transition-related investments across asset classes around the world, Edwin Conway told employees in October in a memo viewed by Insider. You kind of have to stick out," the person said. private credit with a combined platform of more than 200 employees capabilities. Argentina.
blk-ex211_12.htm - SEC Copies are available on the SECs website at www.sec.gov and the Companys website at www.tcpcapital.com. And one day, if a company aspires to go public, we certainly will probably be their largest investor on the public side," she said. Together, BlackRock and TCP expect to offer clients a premium and expanded set of private credit investment opportunities. long-term secular trends to deliver for clients the best results across Mark Florian is responsible for BlackRock's diversified infrastructure investments globally. It's not, because it's competitive. 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 .
Tennenbaum Capital Partners - Crunchbase Jim Barry, the chief investment officer for the unit, decided to leave the firm last year. Russell Steenberg built what would become BlackRock's original alternative asset offering when, in 1999, he joined Merrill Lynch's asset management business to build its private equity unit. Share this article. 80-person team, which will join BlackRock as part of the transaction, In 2022 he was also named a board member of BlackRock's recently formed Saudi Arabia business. Copies are available on the SEC's website at www.sec.gov and the Company's website at http://www.tcpcapital.com.
Meet BlackRock's Alternative-Investments Execs Driving Growth in Insider has pinpointed its leaders across teams, from private equity and credit to sustainability. Use the CB Insights Platform to explore Tennenbaum Capital Partners's full profile. Indeed, the string of exits and tensions within the private credit business grew so untenable that BlackRock president and cofounder Rob Kapito stepped in to try to smooth over frustrations in the group and stem the outflow of talent, said four former BlackRock employees, who spoke to Insider under the condition of anonymity. This is TCP's third CLO issuance in the past 12 months. Howard Levkowitz, a Managing Partner of TCP and Chairman and CEO of TCP Capital Corp., said, We are excited about the growth opportunities for our business as we continue to employ the successful strategy we pioneered nearly two decades ago. Earlier in her career she spent 13 years at Blackstone, where she was a cohead of the firm's London office for hedge-fund solutions. Phone Number 310.566.1000. BlackRock Inc. now owns 14,447,992 shares of the company's stock valued at $702,316,000 after acquiring an additional 685,745 shares in the last quarter. Mr. Donohue was a Managing Director at Tennenbaum Capital Partners (TCP) when it was acquired by BlackRock in 2018. At BlackRock Inc., we promise to treat your data with respect and will not share your information with any third party. leading global credit manager and enhancing its ability to provide As of June 30, 2018, NEW YORK--(BUSINESS WIRE)--BlackRock Inc. (NYSE: BLK) and Tennenbaum Capital Partners, LLC today announced a definitive agreement under which BlackRock will acquire TCP, a leading manager focused on middle market performing credit and special situation credit opportunities.The acquisition augments BlackRock's position as a leading global credit asset manager and advances its goal of . Once that's deployed, those investments will eventually add some $260 million of annual base fees, Kapito said. This asset base includes TCPs approximately $9 billion of Our thought leadership in investing, risk management, portfolio construction and trading solutions.
BlackRock Completes Acquisition of Tennenbaum Capital Partners Philip M. Tseng - Biography - MarketScreener.com In a joint interview, BlackRock executives said they were confident in the team's growth and performance. The Company's shareholders will benefit from enhanced scale, a broader origination network, and a premium and expanded set of private credit capabilities. origination network, and a premium and expanded set of private credit Senior-level members of the TCP investment team, at the principal level and above, were offered four- or five-year retention packages, one of the former BlackRock employees told Insider. to our clients, we provide the investment and technology solutions they She is a graduate of Arizona State University where she earned a B.S. If you experience any issues with this process, please contact us for further assistance. Conway said in an interview with Institutional Investor last December that the slowdown in initial public offerings underscores how important private financing has become. He began his career at UBS Investment Bank's Growth . about the opportunity to be a part of building what we are confident | Blog: www.blackrockblog.com | Twitter: @blackrock He is responsible for overseeing investment strategy, performance, risk management, and other aspects of the business. March 18, 2022 . 480 Washington Boulevard
For more information, visit www.tcpcapital.com. Ms. Williams is the Founder of Hightree Group, an independent advisory business in the institutional investor market that is focused on providing clients with straightforward, cost-effective, and unconflicted advice on governance and policy. Clients of both firms will benefit from this powerful combination, which will result in enhanced scale and a broader origination network. Smith helps oversee and set strategy and direction for the alternatives business, and reports to Edwin Conway. Prospective investors considering an investment in BlackRock TCP Capital Corp. should consider the investment objectives, risks and expenses of the Company carefully before investing. . Cision Distribution 888-776-0942 Summary.
Behind the firm's push: already-low fees under pressure in BlackRock's core fund business, the fast-expanding private markets, and demand from clients. Asset Class No. TCPCs investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. Dickon Pinner joined BlackRock last year to run a new unit in BlackRock Alternatives called Transition Capital, a team aimed at investing in opportunities tied to the energy transition. on June 20, 2019 [ 4] under sections 17 (d) and 57 (i) of the Act and rule 17d-1 under the Act, with the result that no person will continue to rely on the Prior Order if the .
BlackRock Dives Further Into Private Credit With Tennenbaum Capital BlackRock TCP Capital Corp. Announces Leadership Transitions He founded the fund in 2014 when he joined BlackRock from Harvard Management Company, which runs Harvard's endowment. | LinkedIn: www.linkedin.com/company/blackrock. McKenna also worked at Caxton Associates and Citigroup. Since co-founding TCP more than two decades ago, Howard has built a culture of strong investment performance. The financial impact of the transaction is not material to BlackRock Howard, Raj and Phil led the successful integration of TCP to develop BlackRocks US Private Capital team, which today is a leader in private credit. police officer relieved of duty. Clients of both firms will benefit from enhanced scale, a broader origination network, and a premium and expanded set of private credit capabilities, Blackrock said in a statement. Global Mergers and Acquisitions (M&A) Deals in the In UK IFAs, Investment Managers, & Platforms, Craven Street Wealth snaps up London-based Bernard Barrett Associates, Credit Suisse targets rich Asian clients with higher deposit rates. institutional investors.
TCP is the perfect complement to the existing credit business at in-demand moment for the private credit market, big traditional asset managers are going after. Terms were not disclosed.
BlackRock raises $2 billion for Global Credit Opportunities Fund To bolster that growth, BlackRock acquired the small private credit firm Tennenbaum Capital Partners, or TCP, in 2018.
BlackRock says to buy private credit investor Tennenbaum Capital Andr Bourbonnais heads up BlackRock's Long Term Private Capital, a direct private equity strategy that focuses on control investments in companies in North America and Europe. Michael E. Tennenbaum is the founder of Caribbean Capital & Consultancy Corp., a Puerto Rico-based private merchant bank that seeks to make active investments. Delaware. Before she joined BlackRock in 2014, Valentine Andrews was the co-head and operating chief for Morgan Stanley's infrastructure platform, leading capital-raising efforts globally. Jersey City, New Jersey 07310-190
Semer, 212-521-4800orFinancial ProfilesMoira Conlon, With its high-quality team, excellent long-term track record across multiple market cycles, diverse expertise, and proven origination capabilities, TCP is the perfect complement to the existing credit business at BlackRock.. SANTA MONICA, Calif., Aug. 1, 2018 /PRNewswire/ -- BlackRock TCP Capital Corp. (NASDAQ: TCPC) (the "Company") announced today that BlackRock, Inc. (NYSE: BLK) ("BlackRock") has completed the acquisition of Tennenbaum Capital Partners, LLC ("TCP"), advisor to BlackRock TCP Capital Corp. 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. Another person said: "BlackRock doesn't pay that well. 55 East 52nd Street
Diorio is the head of product for BlackRock's crucial US wealth advisory business, which links the firm's vast menu of funds with the large forces of financial advisors, private bankers, and others in the wealth management industry who invest in products like exchange-traded funds and alternative funds. ", "When people ask me what I do I'm just a small piece," Smith said, noting the many product specialists, investors, technologists, and other colleagues she works with. Certain factors that could cause actual results to differ materially from those contained in the forward-looking statements are included in the "Risks" section of the Company's shelf registration statement declared effective on June 15, 2018, and the Company's subsequent periodic filings with the SEC. Before Morgan Stanley, she was a director at Macquarie. market cycles, diverse expertise, and proven origination capabilities, investors worldwide. Capital Corp. and continue to focus on executing the same proven You can sign up for additional alert options at any time. The capital-markets executive Brent Patry's role was expanded last fall to include the role of deputy head of alternatives. TCP with its more than $9 billion in committed . Baranski and Seeg took over from Russell Steenberg, the founder and longtime head, after he stepped away from day-to-day responsibilities and took on a new role as chairman of PEP as of January 1. NEW YORK--(BUSINESS WIRE)--BlackRock, Inc. (NYSE:BLK) has completed the acquisition of Tennenbaum "Somebody with her kind of background is like a dream hire, because, obviously, she understands the investing side from having invested in fund of funds for so long," a London-based recruiter told Insider last year for a story on ESG leaders across the industry. "Whenever there's a category like that where there is interest and growth, there are going to be companies who want to get into that space.". Howard Levkowitz to Retire as Chairman and Chief Executive Officer; Board Appoints Rajneesh Vig as Successor; Phil Tseng Named President and Chief Operating Officer. leading global credit manager and enhancing its ability to provide Forward-looking statements are based on estimates, projections, beliefs and assumptions of management of the Company at the time of such statements and are not guarantees of future performance. BlackRock and will continue to be responsible for managing TCP products,
Tennenbaum Capital Partners, LLC | LinkedIn Florian recently oversaw a significant fund closing. Clients of both firms will benefit from enhanced scale, a broader contact.us@blackrock.com, Computershare Investor Services LLC
Previously, she was Head of Client Solutions at Two Sigma Advisors.
Carolyn Glick - Managing Director - BlackRock | LinkedIn Phil Tseng will assume the role of Chief Operating Officer on August 5, 2021, and President on September 30, 2021. BlackRock AP Investment Holdco, LLC. Asset manager giant BlackRock Inc. signed a definitive agreement to acquire Tennenbaum Capital Partners, LLC, in a bid to strengthen its credit platform. enhance our ability to serve clients and borrowers. The financial impact of the transaction is not material to BlackRock As a fiduciary Giordano reports to Anne Valentine Andrews. When the TCP deal was completed in August 2018, BlackRock's global credit team managed $90 billion in assets a figure that stood at $149 billion as of June 30, a person familiar with the firm told Insider. The acquisition is the next step in BlackRocks efforts to expand its 'The acquisition is the next step in BlackRock's efforts to expand its capabilities and impact of its alternatives business . . need when planning for their most important goals. Some employees from the TCP team stayed long enough to receive their retention bonus, one of the people said. Rajneesh Vig, Managing Director, is a member of Blackrock's Global Credit Platform and President and COO of BlackRock-TCP Capital Corp (NASDAQ: TCPC) Prior to joining BlackRock, Mr. Vig was a Managing Partner at Tennenbaum Capital Partners (TCP), where he was also Chairman of the Investment Committee and a member of the Management Committee. investment talent and a strong long-term track record at a time when The company has a debt-to-equity ratio of 1.21, a quick ratio of 37.97 and a current ratio of 37.97. Ms. Williams will serve on the Audit Committee, the Governance and Compensation Committee, and the Joint Transactions Committee. Forward-looking statements are made as of the date of this press release, and are subject to change without notice. Prior to Two Sigma, Ms. Williams was Chief Investment Officer and a member of the senior leadership team of Farmers Group, Inc. Before Farmers, Ms. Williams was a senior consultant at Wilshire Consulting, where she created a risk management advisory practice, following several years of experience developing and implementing risk policy and systems for institutional investors.
BlackRock, Inc. to Acquire Private Credit Manager Tennenbaum Capital visit www.blackrock.com You must click the activation link in order to complete your subscription. Its more than TCPC lends primarily to companies with established market positions, strong regional or national operations, differentiated products and services and sustainable competitive advantages, investing across industries in which it has significant knowledge and expertise. Meanwhile last year BlackRock fired the former co-heads of secondaries and liquidity solutions, along with a third managing director, after they said they planned to leave for Apollo Global Management together, Bloomberg reported. Prospective investors considering an investment in BlackRock TCP Capital Corp. should consider the investment objectives, risks and expenses of the Company carefully before investing. geographies.. need when planning for their most important goals. "They could just decide: 'We're going to start our own company.'". Kristen Weldon, who joined BlackRock in 2021, is in charge of implementing BlackRock's sustainable-investing strategy across the alternative assets business. This information and other information about the Company are available in the Company's filings with the Securities and Exchange Commission ("SEC").
DAVID HOLLANDER VS TENNENBAUM CAPITAL PARTNERS, LLC, ET AL. - UniCourt companies. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. As a fiduciary Copies are available on the SECs website at www.sec.gov and the Companys website at www.tcpcapital.com. By providing your email address below, you are providing consent to Blackrock TCP Capital Corp. to send you the requested Investor Email Alert updates. TCP brings significant experience in middle market performing credit and ability to deliver clients private credit solutions that meet their Howard is a leader in the industry and was a key architect in building the US Private Capital business. The money manager has been on a mission to grow its $318 billion alternatives business. The business builds "bespoke customized exposure for clients through hedge-fund exposure," Edwin Conway said of the group during an industry conference in 2020. investor.relations@tcpcapital.com. As of March 31, 2018, When typing in this field, a list of search results will appear and be automatically updated as you type. private credit with a combined platform of more than 200 employees For more information, please visit:www.tennenbaumcapital.com and www.tcpcapital.com. Anne Valentine Andrews oversees the alternatives unit's infrastructure and real estate investments. NEW YORK-- ( BUSINESS WIRE )--BlackRock, Inc. (NYSE:BLK) has completed the acquisition of Tennenbaum Capital Partners, LLC ("TCP"), bolstering . need when planning for their most important goals. SANTA MONICA, Calif., Aug. 1, 2018 /PRNewswire/ -- BlackRock TCP Capital Corp. (NASDAQ: TCPC) (the "Company") announced today that BlackRock, Inc. (NYSE: BLK) ("BlackRock . This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. TCPC), a business development company. BlackRock Inc. (NYSE: BLK) and Tennenbaum Capital Partners, LLC (TCP) In connection with the transaction, the Company's name was changed from TCP Capital Corp. to BlackRock TCP Capital Corp. TCPC is a publicly-traded business development company, or BDC, regulated under the Investment Company Act of 1940 and is externally managed by its advisor, Tennenbaum Capital Partners, LLC, a leading alternative investment manager. Since its founding
BlackRock Bolsters Global Credit Business with Acquisition of TCP Upon completion of the transaction, TCP is expected to become a wholly-owned subsidiary of BlackRock and, pending the approval of TCP Capital Corp.s shareholders, remain the investment adviser of TCP Capital Corp. Current members of the TCP team will continue to be responsible for the investments of TCP Capital Corp. and continue to focus on executing the same proven investment strategies and process as they have since TCP Capital Corp.s inception. investors worldwide. We are focused on delivering a range of products and innovative solutions for clients in need of new sources of return and new ways to manage portfolio allocation and risk, said David Blumer, Global Head of BlackRock Alternative Investors. She also held several roles at Goldman Sachs. BlackRock Asset . Katie McGlynn New. Dan Sondhelm commented for this Insider article about why demand for private credit has created opportunities for top executives to join other firms or become an entrepreneur. In 2018, Keenan helped steer the firm'sacquisition of Tennenbaum Capital Partners, an investment manager that expanded the alternatives unit's foothold in the competitiveprivate creditmarket. Together, BlackRock and TCP expect to offer clients This transition in leadership follows BlackRocks highly successful 2018 acquisition of Tennenbaum Capital Partners (TCP) that solidified BlackRock as a leading private credit manager.
BlackRock, Inc. to Acquire Private Credit Manager Tennenbaum Capital Relations:Tom Wojcik, 212-810-8127Tom.Wojcik@BlackRock.com, Internet Explorer presents a security risk. These are two important areas to BlackRock, particularly because of the firm's view that the Inflation Reduction Act in the US is expected to increase investments in infrastructure-related projects and real estate investors will find new opportunities amid shifting office and work-from-home dynamics. NEW YORK--(BUSINESS WIRE)-- has demonstrated strong performance over nearly two decades. Previously, he co-founded Tennenbaum Capital Partners, a leading specialty credit investor. In connection with the transaction, the Company's name was changed from TCP Capital Corp. to BlackRock TCP . strategy, and products. plans and augments our position as a leading credit asset manager. including the investments of TCP Capital Corp. (NASDAQ: TCPC), a "Meeting our clients' latent need for such a 'whole portfolio solution' was a key rationale for the eFront acquisition," he said. | Blog: www.blackrockblog.com Patry joined BlackRock in 2017 from Credit Suisse, where he worked for nearly two decades and held roles including head of leveraged finance capital markets. Conway joined BlackRock in 2011 from alternatives giant Blackstone, where he was a senior managing director leading global investor relations and business development. He joined BlackRock in 2011 from Deutsche Bank, most recently as a director in the retail sales division. He was responsible for the unit, called Private Equity Partners, until this year when he officially took on a new role as chairman of the business. "BlackRock is great at raising low-fee capital ETFs, mutual funds. Steenberg had founded the business in 1999. Sep 21, 2022, 9:12 AM. continue to build on our long track record in middle market performing This asset base includes TCPs approximately $9 billion of After submitting your request, you will receive an activation email to the requested email address. focused on delivering a range of products and innovative solutions for 2. Actual results could differ materially from those projected in these forward-looking statements due to a variety of factors, including, without limitation, changes in general economic conditions or changes in the conditions of the industries in which the Company makes investments, risks associated with the availability and terms of financing, changes in interest rates, availability of transactions, and regulatory changes. BlackRocks Global Credit team now manages more than $90 billion in 3 August 2018 - US-based investment firm BlackRock Inc. (NYSE: BLK) has closed the acquisition of US-based alternative investment management firm Tennenbaum Capital Partners, LLC, the firm said.