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Forward-looking statements involve risks and uncertainties in predicting future results and conditions. In his role as chairman of direct private equity, Bourbonnais chairs the two direct private equity offerings: Long Term Private Capital and Decarbonization Partners. Bios | The Holdsworth Group 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. 0; Form 10-K (annual report [section 13 and 15(d), not s-k item 405]) filed with the SEC Slattery left BlackRock and was named chief operating officer of CBC Group this month. 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. In a joint interview, BlackRock executives said they were confident in the team's growth and performance. The acquisition will help both the companies to expand their offerings to their clients. 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. Keenan joined the firm in 2004 and previously worked alongside Tim O'Hara, who left for Wells Fargo last year. 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. BlackRock Capital Investment Corporation - Fitch Ratings 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 . 5 Competitive Advantages of BlackRock Global Credit Expertise $105 billion(1) in AUM across credit SANTA MONICA, Calif., Jan. 25, 2018 /PRNewswire/ -- Tennenbaum Capital Partners, LLC ("TCP" or the "Firm"), a leading alternative investment management firm, announced today the closing of its $300 million TCP Rainier CLO. As the story goes, the janitor responded: "I'm helping put a man on the moon. SALT Howard Levkowitz Prospective investors should read these materials carefully before investing. BlackRock wants to build a larger private credit business to expand fee generation and offer clients more than just passive products. You must click the activation link in order to complete your subscription. Tennenbaum was formally organized in 1999. Steenberg remains on PEP's investment committees and is involved in client relationships and priorities for the business. Delaware. By providing your email address below, you are providing consent to Blackrock TCP Capital Corp. to send you the requested Investor Email Alert updates. 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. The acquisition augments BlackRocks position as a leading global credit asset manager and advances its goal of providing clients with a diverse range of alternative investment products and solutions to meet their evolving needs. police officer relieved of duty. Tennenbaum Capital Partners ("TCP") is a California-based private investment company investing in both performing credit and special situations, primarily in North American middle-market companies. Enter the Aladdin business and the wider alternatives franchise, which he thinks is well-positioned to address those changes with its variety of technologies. need when planning for their most important goals. With Tennenbaum Capital Partners, LLC ("TCP") is a leading alternative investment management firm founded in 1999 (its predecessor entity commenced operations in 1996) with a proven track . By providing your email address below, you are providing consent to BlackRock Inc. to send you the requested Investor Email Alert updates. Investment manager BlackRock has closed the acquisition of Tennenbaum Capital Partners (TCP), a US-based private credit manager. plans and augments our position as a leading credit asset manager. Dan Sondhelm, CEO and founder of Sondhelm Partners, an asset-management consulting firm, said that given how hot the private credit market is right now, deal-hungry firms may run the risk of not being able to hold onto investment talent for long especially once retention packages time out. 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. For more information, please 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. companies. | Twitter: @blackrock BlackRock helps investors build better financial futures. BlackRock Affiliation Beneficial: Fitch Ratings believes that BlackRock Capital Investment Corporation's (BKCC) affiliation with BlackRock, Inc. enhances the business development company's (BDC) access to investment resources, deal flow and funding. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. For more information, please visit:www.tennenbaumcapital.com and www.tcpcapital.com. new colleagues and leveraging BlackRocks unparalleled resources to Copies are available on the SEC's website at www.sec.gov and the Company's website at http://www.tcpcapital.com. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. has demonstrated strong performance over nearly two decades. He currently serves with Raj as Co-Head of US Private Capital. 'The acquisition is the next step in BlackRock's efforts to expand its capabilities and impact of its alternatives business . continue to build on our long track record in middle market performing development company, TCP Capital Corp. (NASDAQ:TCPC). He was named global head of BlackRock Alternatives in April 2019 when the alternatives business was restructured in a way executives hoped would improve growth, according to reports at the time. Menu icon A vertical stack of three evenly . BlackRock Completes Acquisition of Tennenbaum Capital Partners, LLC client assets across multi-strategy credit, leveraged finance, and The business oversaw $30 billion as of December. "The office of the COO is where we crystallize our strategy and how we execute day-to-day and in the longer term," Conway said in a memo to staff announcing Smith's appointment in 2021, Insider previously reported. At BlackRock Inc., we promise to treat your data with respect and will not share your information with any third party. In an interview last December with trade publication PERE, Valentine said a primary theme she will be focusing on this year is growing more selective in examining individual assets. 310-566-1003investor.relations@tennenbaumcapital.com. Many investment companies, to be sure, face challenges in hiring and retention. Another BlackRock managing director, Brad Pritchard, joined the venture debt firm Runway Growth Capital in August. 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. Once that's deployed, those investments will eventually add some $260 million of annual base fees, Kapito said. strong long-term track record to the BlackRock global credit platform. Building an Innovative Financial Technology Ecosystem in Scotland. 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 . Canada. Before joining BlackRock, she was a senior research analyst for the Financial Stability Board and held other roles, including senior investment associate at the hedge fund Bridgewater. We look forward to collaborating with our BlackRock, Inc. to Acquire Private Credit Manager Tennenbaum Capital Ms. Williams will serve on the Audit Committee, the Governance and Compensation Committee, and the Joint Transactions Committee. This asset base includes TCPs approximately $9 billion of The financial impact of the transaction is not material to BlackRock McKenna also worked at Caxton Associates and Citigroup. Forward-looking statements are made as of the date of this press release, and are subject to change without notice. Prior to TCP, Mr. Donohue held various roles within GE Capital's Media and Telecom group from 2000 to 2006. investors worldwide. BlackRock Capital Investment Corporation, et al. - Federal Register The team builds actively managed portfolios for clients who want diversified exposure to private-market investments. BlackRock TCP Capital (NASDAQ:TCPC) Price Target Cut to $11.00 "There are other opportunities right now. Christian Donohue - BlackRock Capital Investment Corporation BlackRock.. Share this article. Florian started the energy and power infrastructure business at First Reserve in 2008, when he joined the company from Goldman Sachs. BlackRock bought Merrill Lynch Investment Management in 2006. Clients of both firms will benefit from enhanced scale, a broader Tennenbaum is a manager focused on middle market performing credit and special situation credit opportunities. BlackRock agreed to acquire Tennenbaum Capital Partners, which focuses on credit and special situations.Tennenbaum partners Lee Landrum, Michael Leitner, Howard Levkowitz, Philip Tseng and Rajneesh Vig will stay on as part of the acquisition.Tennenbaum is expected to become a wholly owned subsidiary of BlackRock and, pending approval, will remain the investment adviser for TCP Capital Corp. TCP is headquartered in Los Angeles with additional offices in Atlanta, New York and San Francisco. TCP Direct Lending Fund VIII is a direct lending fund managed by Tennenbaum Capital Partners. BlackRock, Inc. (NYSE:BLK) has completed the acquisition of Tennenbaum Capital Partners, LLC ("TCP"), bolstering BlackRock's position as a leading global credit manager and enhancing its ability to provide clients with private credit solutions across a range of risk level, liquidity and geography. The merger of the two companies will boost each other's offerings. BlackRock TCP Capital Corp. Announces Leadership Transitions the firm managed approximately $6.317 trillion in assets on behalf of expertise and platform scale can drive returns, said Tim OHara, Global "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.". Global Credit platform presents a unique and compelling opportunity to in-demand moment for the private credit market, big traditional asset managers are going after. 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. TCP brings significant experience in middle market performing credit and NEW YORK, April 17, 2018 /PRNewswire/ -- BlackRock Inc. (NYSE: BLK) and Tennenbaum Capital Partners, LLC ("TCP") today announced a definitive agreement under which . Institutional investors and hedge funds own 28.63% of the company's stock. He left and joined Wells Fargo, where he was named head of banking in the corporate and investment bank in May. client assets across multi-strategy credit, leveraged finance, and At Blackrock TCP Capital Corp., we promise to treat your data with respect and will not share your information with any third party. The business now has $34 billion of dry powder to invest. And one day, if a company aspires to go public, we certainly will probably be their largest investor on the public side," she said. He now oversees business development for Aladdin, BlackRock's investment software that institutions use to analyze their investment holdings and portfolio risk. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. "Our aim is to be the clear global leader," Conway said in the memo. | Blog: www.blackrockblog.com leading global credit manager and enhancing its ability to provide currently serves as the investment adviser of TCP Capital Corp. (NASDAQ: Our thought leadership in investing, risk management, portfolio construction and trading solutions. 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. BlackRock's leases on East 52nd Street expire in April. Asset manager giant BlackRock Inc. signed a definitive agreement to acquire Tennenbaum Capital Partners, LLC, in a bid to strengthen its credit platform. BlackRock is to acquire Tennenbaum Capital Partners, an investment manager focused on middle market performing credit and special situation credit opportunities. The financial impact of the transaction is not material to BlackRock The Order sought by the application would supersede the Prior Order (as defined below) issued by the Commission to BlackRock Capital Investment Corporation, et al. There is a lot more capital coming into this space," Tseng told Insider. All of us are working hard to meet the needs of our clients.". TCPC), a business development company. TCP brings significant experience in middle market performing credit and You can sign up for additional alert options at any time. Discovery Company profile page for Metrica Srl including technical research,competitor monitor,market trends,company profile& stock symbol Capital Corp., said, We are excited about the growth opportunities for | Twitter: @blackrock long-term secular trends to deliver for clients the best results across "They could just decide: 'We're going to start our own company.'". diversification are increasingly turning to private credit where both origination network, and a premium and expanded set of private credit Prior to co-founding TCP in 1996, Mr. Holdsworth worked as an investment banker and in real estate. Subscriber Benefit. Tennenbaum Capital Partners, LLC is a large advisory firm based in Santa Monica. Stay up to date with what you want to know. Florian reports to Anne Valentine Andrews. Relations:Tom Wojcik, 212-810-8127Tom.Wojcik@BlackRock.com, Internet Explorer presents a security risk. Tennenbaum Capital Partners, LLC (Santa Monica) - wallmine TCP is headquartered in Los Angeles with additional offices Conway, as Institutional Investor noted, grew up in a dairy farming community in Ireland. "Russ did more than found a business," Conway said in the September memo seen by Insider. If you experience any issues with this process, please contact us for further assistance. Meet BlackRock's Alternative-Investments Execs Driving Growth in to our clients, we provide the investment and technology solutions they Prior to TCP, he managed various departments of a major investment bank. "I was on the academic track, applying for faculty positions and transition grants for my life in academia. capabilities. 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..