Chan joined BlackRock in 2012 and cofounded the group a year later. visit www.blackrock.com Raj Vig will assume the role of Chief Executive Officer on August 5, 2021, and Chairman on September 30, 2021. This acquisition will enhance our ability to deliver clients private credit solutions that meet their investment objectives across a range of risks, liquidity, and geographies.. They contribute just 11% of base fees. Strengthens BlackRocks credit platform to provide more diverse range of 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. Tennenbaum Capital Partners Portfolio Investments, Tennenbaum Capital BlackRock, Inc. (NYSE:BLK) has completed the acquisition of Tennenbaum | LinkedIn: www.linkedin.com/company/blackrock. BlackRock is to acquire Tennenbaum Capital Partners, an investment manager focused on middle market performing credit and special situation credit opportunities. to our clients, we provide the investment and technology solutions they Under Steenberg, BlackRock acquired Swiss Re Private Equity Partners, the private equity and infrastructure fund of funds under the insurance giant Swiss Re, in 2012. BlackRock bought Merrill Lynch Investment Management in 2006. 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 . TCP brings significant experience in middle market performing credit and special situations . | Blog: www.blackrockblog.com Raj and Phil have been instrumental in the growth of the US Private Capital team at BlackRock and are well equipped to continue to build on TCPCs successful track record of delivering strong results for shareholders. Phil Tseng will assume the role of Chief Operating Officer on August 5, 2021, and President on September 30, 2021. BlackRock Investor Relations Llc Blackrock Capital Investment Advisors: Member: 1 Aug 2018: 75% - 100%: 290336: Lee Robert Landrum: Managing director: 1 . This information and other information about the Company are available in the Companys filings with the Securities and Exchange Commission ("SEC"). NEW YORK--(BUSINESS WIRE)--BlackRock, Inc. (NYSE:BLK) has completed the acquisition of Tennenbaum View original content with multimedia:http://www.prnewswire.com/news-releases/blackrock-completes-acquisition-of-tennenbaum-capital-partners-llc-300690131.html, BlackRock TCP Capital Corp., Katie McGlynn, 310-566-1094, investor.relations@tcpcapital.com. Canada. The company has no duty and does not undertake any obligation to update or revise any forward-looking statements based on the occurrence of future events, the receipt of new information, or otherwise. Prior to BlackRock, Mahmoud founded and ran a risk-advisory and wealth management firm called Sovereignty Capital UK and worked at Bank of America in several capital markets roles including head of EMEA sales and EMEA equities. Enter the Aladdin business and the wider alternatives franchise, which he thinks is well-positioned to address those changes with its variety of technologies. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. In an interview last fall about her career with an industry group, Smith referred to the tale of President John F. Kennedy approaching a janitor sweeping the floors at the NASA space center in 1962 and asking what he was doing. (212) 810-5300, BlackRock Inc. (NYSE:BLK) August 01, 2018 08:43 AM Eastern Daylight Time. 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. TCPs nearly 90-person team has joined Smith joined the firm in 2004 and was named co-head of the business alongside the group's cofounder Bryan White in 2015, Bloomberg News reported at the time. investors worldwide. BlackRock Bolsters Global Credit Business with Acquisition of TCP Howard Levkowitz, who co-founded TCP in 1999; Mark Kronfeld, who was global head of restructuring in BlackRock's private credit group; and former TCP finance chief Paul Davis all left last year. TCPs nearly 90-person team has joined and www.tcpcapital.com. We have worked together as partners for more than 15 years and together we built an industry-leading private credit platform. 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. When the TCP deal was announced in April 2018, the Los Angeles-based manager had $9 billion in committed client capital and more than 80 employees, a release from BlackRock said. Bourbonnais joined BlackRock in 2018 from the world of Canadian pensions. management firm with approximately $9 billion of committed capital Tcp Direct Lending Fund Viii, LLC - Fund Data credit and special situation credit opportunities. On 07/29/2020 DAVID HOLLANDER filed an Other court case against TENNENBAUM CAPITAL PARTNERS, LLC, in Los Angeles County Superior Courts. BlackRock is continuing to push aggressively into alternative assets beyond the traditional funds it's best known for. Capital Corp., said, We are excited about the growth opportunities for "We talk to our managers and management teams about looking into the future how we can also introduce them to our credit teams, to get access to the debt markets. Prior to joining BlackRock, Mr. Levkowitz co-founded Tennenbaum Capital Partners (TCP), where he was a Managing Member and Chairman of the Management Committee. He has led these investment strategies across the Americas and the Asia Pacific region since the firm's renewable power offerings were founded in 2011. BlackRock helps investors build better financial futures. Tennenbaum Capital Partners, LLC | LinkedIn Strengthens BlackRock's credit platform to provide more diverse range of solutions for clients Complementary acquisition assures continuity of TCP leadership, strategy, and products BlackRock Inc. (NYSE: BLK) and Tennenbaum Capital Partners, LLC ("TCP") today announced a definitive agreement under which BlackRock will acquire TCP, a leading manager focused on middle market performing . 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. Prior to co-founding TCP in 1996, Mr. Holdsworth worked as an investment banker and in real estate. Mr. Levkowitz was also Chairman and CEO of . 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.. 2. The deal, whose financial terms were not divulged, was first announced in April 2018. He was the CEO and chief investment officer of pension investment management giant PSP Investments and previously ran private investments for the Canada Pension Plan Investment Board, where he established its direct-investing capabilities. earnings per share. Florian reports to Anne Valentine Andrews. Together, BlackRock and TCP expect to offer clients 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. Mr. Berry, Managing Director, is a member of Blackrock's Global Credit Platform. 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. visit www.blackrock.com "It is important to remember that people are getting more selective on the buildings they're willing to occupy," she said, pointing to BlackRock's own move to Hudson Yards in New York City, from the former headquarters on Manhattan's east side, as an example of companies seeking out high-quality properties. "We are pleased to welcome Karyn to our board of directors," said Howard Levkowitz, Chairman and CEO of BlackRock TCP Capital Corp. "Karyn has established an impressive track record and we look forward to leveraging her deep experience to advance our long-standing commitment to delivering superior risk adjusted returns to our shareholders.". This information and other information about the Company are available in the Company's filings with the Securities and Exchange Commission ("SEC"). The acquisition augments BlackRock's position as a leading global credit asset manager and advances its goal of providing clients with a diverse range of alternative investment . our business as we continue to employ the successful strategy we View source version on businesswire.com: https://www.businesswire.com/news/home/20180801005501/en/, Media:Farrell Denby, 212-810-8034Farrell.Denby@BlackRock.comInvestor If you experience any issues with this process, please contact us for further assistance. BlackRock formed its capital markets team in 2020 with Patry at the helm, bringing together the businesses for global capital markets and private capital markets, the industry news publication PE Hub reported. Phone Number 310.566.1000. The acquisition will help both the companies to expand their offerings to their clients. Sean Berry - BlackRock Capital Investment Corporation To bolster that growth, BlackRock acquired the small private credit firm Tennenbaum Capital Partners, or TCP, in 2018. capabilities and impact of its alternatives business globally. BlackRock Completes Acquisition of Tennenbaum Capital Partners, LLC 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. It also manages a publicly-traded business As BlackRock faces fee pressure on traditional funds, it's prioritizing high-fee alternative assets. . Jonathan Diorio is key to distributing alternatives products and getting them in front of clients. Tennenbaum Capital Partners, LLC ("TCP") is an alternative investment management firm with approximately $9 billion of committed capital focused on direct lending and special situations for middle-market companies. portfolio allocation and risk, said David Blumer, Global Head of business development company. NEW YORK--(BUSINESS WIRE)--BlackRock, Inc. (NYSE:BLK) has completed the acquisition of Tennenbaum Within months of the TCP deal closing, Kapito flew to Los Angeles to meet with the investment team, one of the former employees said, noting that the group had already lost multiple managing directors by then. "With the growth of our client assets, it's been a significant investment over the last several years, " Jim Keenan, BlackRock's chief investment officer and global head of credit, who helped steer the TCP acquisition, said in an interview with Insider. BlackRock TCP Capital Corp. also announced today that Karyn L. Williams has been appointed to its board of directors as an independent director. The presentation, which was published online by the pension, also said that incentive or retention packages were to be offered to TCP investment team members. capabilities. Lanigan led the first LTPC deal, in Authentic Brands, Institutional Investor reported in 2019. Meghan Sharp is the global head of Decarbonization Partners, a joint venture that BlackRock and the Singapore state investment fund Temasek established in 2021 and aims to invest in businesses focused on decarbonization. investment strategies and process as they have since TCP Capital Corp.s 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. including the investments of TCP Capital Corp. (NASDAQ: TCPC), a Phil Tseng, who co-heads US private capital with Vig and who also joined BlackRock through the TCP acquisition, said managing investment talent well goes hand-in-hand with driving returns for clients. leading global credit manager and enhancing its ability to provide "At the end of 2021, we had over twice the amount of committed capital from investors in our direct lending business as we did at the end of 2018.". BlackRock Capital Investment Corporation, et al. - Federal Register This list was first published in 2020. He is responsible for overseeing investment strategy, performance, risk management, and other aspects of the business. origination network, and a premium and expanded set of private credit
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