BlackRock TCP Capital Corp.

Frequently Asked Questions About TCPC

What does TCPC invest in?

BlackRock TCP Capital Corp. operates as a business development company (BDC) with a primary focus on deploying direct equity and debt capital into middle-market enterprises. Its investment portfolio spans a wide range of financial instruments, encompassing various forms of debt such as senior secured, junior, and originated loans, alongside mezzanine financing, corporate bonds, and opportunistic secondary-market transactions. The firm also actively seeks to acquire ownership stakes through its equity investments. Its investment strategy is geographically centered within the United States, targeting a diverse array of sectors. These include, among others, communication and media services (such as public relations, television, and wireless communications), consumer products and retail (including apparel, restaurants, and general merchandising), the energy sector (specifically oil and gas extraction), intellectual property ownership, various financial services (like credit agencies and insurance), healthcare and biotechnology, industrial engineering and manufacturing (e.g., heavy electrical equipment, chemicals), and a broad spectrum of technology and specialized business services (including IT consulting, software development, application hosting, and certain logistics providers). Individual investments typically fall within the range of $10 million to $35 million. The companies BlackRock TCP Capital Corp. supports generally possess enterprise values between $100 million and $1.5 billion, even when navigating complex operational or financial circumstances.

What is the expense ratio of TCPC?

An expense ratio for BlackRock TCP Capital Corp. (TCPC) is not available from our data sources — neither our market-data feed nor the SEC's structured prospectus and annual-report datasets report one for this share class. The fund's prospectus on the issuer's site carries the authoritative fee.

How big is TCPC?

BlackRock TCP Capital Corp. (TCPC) manages $342.3M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is TCPC actively managed or an index fund?

TCPC's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

When was TCPC launched?

BlackRock TCP Capital Corp. (TCPC) launched in April 2012 and is managed by BlackRock / iShares.

How has TCPC performed?

TCPC's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.