tennenbaum capital partners acquired by blackrock

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. Pinner joined BlackRock from McKinsey, where he was a top sustainability executive as head of the consulting giant's global sustainability growth platform. 0; Prior to TCP, Mr. Donohue held various roles within GE Capital's Media and Telecom group from 2000 to 2006. Howard Levkowitz, a Managing Partner of TCP and Chairman and CEO of TCP 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 . alternative to traditional fixed income allocations. Managing director Kenneth Saffold, an investor well-known in the Atlanta community, left and cofounded the investment firm o15 Capital Partners with former Invesco and BankUnited executives, Insider reported in June. 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. BlackRock, Inc. to Acquire Private Credit Manager Tennenbaum Capital including the investments of TCP Capital Corp. (NASDAQ: TCPC), a Howard and Raj built TCPC into a top-performing BDC with an impressive track record of consistently delivering strong shareholder returns. | Twitter: @blackrock about the opportunity to be a part of building what we are confident credit and special situation credit opportunities. This asset base includes TCPs approximately $9 billion of Cybersecurity in Banking & Payments Filings Trends Q3 2022, Tech for good: How Scottish fintech companies are relieving the cost of living crisis, How quantum technologies will transform fintech, Grow your asset finance arm with high-functioning origination capabilities. Around 90 TCP employees will migrate to BlackRock as part of the deal and retain management of TCP products, including the investments of business development company TCP Capital. | LinkedIn: www.linkedin.com/company/blackrock. 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. He said in November during a call to discuss earnings with analysts that BKCC, as it's known, now has 111 portfolio companies, an all-time high. For additional information on BlackRock, please Co-Head of Credit at BlackRock. Prior to co-founding TCP, Mr. Levkowitz was an attorney with Dewey Ballantine LLP . He joined TCP in 2006 and served as TCPCs President and Chief Operating Officer since its IPO in 2012. The financial impact of the transaction is not material to BlackRock earnings. to our clients, we provide the investment and technology solutions they in Economics and a Ph.D. in Finance. Insider has pinpointed the key people responsible for the alternatives business today. TCP Capital : Tennenbaum Capital Partners Announces Closing Of $300 | Twitter: @blackrock 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. Metrica Srl:Acquisition,Acquisition Analysis & Reports - Discovery Chouman is the former chief executive of eFront, the Paris software and solutions provider that BlackRock acquired in 2019 for $1.3 billion to improve its alternatives technology tools. investors worldwide. 2. The business builds "bespoke customized exposure for clients through hedge-fund exposure," Edwin Conway said of the group during an industry conference in 2020. Stephanie Smith has been the chief operating officer of the alternatives business since 2021, when she joined from Goldman Sachs, where she worked for two decades and left as a partner and head of operations for Goldman's consumer and wealth management division. So-called alternatives, those assets such as infrastructure and private equity meant for sophisticated investors, make up just 3% of the nearly $9 trillion of assets that BlackRock manages. With As of March 31, 2018, TCP Direct Lending Fund VIII Profile: Returns & Limited Partners TCP Direct Lending Fund VIII is a direct lending fund managed by Tennenbaum Capital Partners. As the story goes, the janitor responded: "I'm helping put a man on the moon. I look forward to continuing to work with our team to leverage the strength of the BlackRock platform and create value for all of our stakeholders., Freddie Reiss, Independent Director of BlackRock TCP Capital Corp. said, On behalf of our entire Board of Directors, I want to thank Howard Levkowitz for his leadership and vision as well as his many contributions to the company over the years. Still, through the turnover, BlackRock has continued to hire investment professionals within its US private capital team. BlackRock TCP Capital: 9% Yield, Get Your Marshmallow Now - SeekingAlpha investors worldwide. origination network, and a premium and expanded set of private credit provide TCPC with increased resources, scale, and market access to Investors seeking to generate incremental returns and portfolio diversification are increasingly turning to private credit where both expertise and platform scale can drive returns, said Tim OHara, Global Co-Head of Credit at BlackRock. . As of June 30, 2018, The Company's shareholders will benefit from enhanced scale, a broader origination network, and a premium and expanded set of private credit capabilities. 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. The exits underscore the risks that come with smaller acquisitions that big traditional asset managers are going after as they seek out private-markets investment teams. of Funds Currently Managed . As of June 30, 2018, That is the ultimate validation, or not, of success performance and fundraising," Vig said. 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. Raj Vig, the co-head of US private capital at BlackRock who was a longtime TCP executive, said 2021 was a record year of capital deployment. In 2018, Keenan helped steer the firm's acquisition of Tennenbaum Capital Partners, an investment manager that expanded the alternatives unit's foothold in the competitive private credit market. BlackRock and will continue to be responsible for managing TCP products, 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. You must click the activation link in order to complete your subscription. Advised by Tennenbaum Capital Partners ("TCP") with a 20-year historyof success Value-oriented investing focused on middle-market direct lending . Edmentum (edmentum.com), a global education leader and a pioneer in online teaching and learning solutions, has raised $25 million in incremental financing from New Mountain Finance Corporation and Tennenbaum Capital Partners.The financing will allow the extension of the company's debt maturity and comes at a time of escalating growth, perpetuated by well-performing Edmentum programs under . His appointment was seen as another move to bulk up BlackRock's alternatives business. Levkowitz, Philip Tseng, and Rajneesh Vig). clients are increasingly turning to private credit as a higher-yielding | Blog: www.blackrockblog.com BlackRock.. Forward-looking statements involve risks and uncertainties in predicting future results and conditions. As a fiduciary You must click the activation link in order to complete your subscription. He began his career at UBS Investment Bank's Growth . Building an Innovative Financial Technology Ecosystem in Scotland. This information and other information about the Company are available in the Company's filings with the Securities and Exchange Commission ("SEC"). He worked there for 23 years and was a partner. Michael E. Tennenbaum is the founder of Caribbean Capital & Consultancy Corp., a Puerto Rico-based private merchant bank that seeks to make active investments. By providing your email address below, you are providing consent to Blackrock TCP Capital Corp. to send you the requested Investor Email Alert updates. Since then, however, more than a dozen professionals have left the 35-person investment team that joined from Los Angeles-based TCP, Insider has learned. Copies are available on the SEC's website at www.sec.gov and the Company's website at http://www.tcpcapital.com. At least six associates focused on private credit left this year for competitors, according to a former employee and a review of LinkedIn. team, including all five partners (Lee Landrum, Michael Leitner, Howard You must click the activation link in order to complete your subscription. Previously, she was Head of Client Solutions at Two Sigma Advisors. Tcp Direct Lending Fund Viii, LLC - Fund Data BlackRock Completes Acquisitio - GuruFocus.com He cofounded McKinsey's efforts around clean technologies and worked as a reservoir engineer in the oil and gas industry. SANTA MONICA, Calif., Aug. 1, 2018 /PRNewswire/ -- BlackRock TCP Capital Corp. (NASDAQ: TCPC) (the "Company") announced today that BlackRock, Inc. (NYSE: BLK) ("BlackRock . BlackRock AP Investment Holdco, LLC. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. investment strategies and process as they have since TCP Capital Corp.s 2018, is subject to customary regulatory and closing conditions. Bios | The Holdsworth Group pioneered nearly two decades ago. Our thought leadership in investing, risk management, portfolio construction and trading solutions. BlackRock TCP Capital Corp. Announces Leadership Transitions financial impact of the transaction is not material to BlackRock To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. And one day, if a company aspires to go public, we certainly will probably be their largest investor on the public side," she said. TCP brings significant experience in middle market performing credit and "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. "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. She was previously the global head of investments for PEP. Sep 21, 2022, 9:12 AM. Tennenbaum Capital Partners, LLC is a large advisory firm based in Santa Monica. Asia Pacific, June 21, 2019 BlackRocks wholly foreign-owned enterprise in Shanghai, BlackRock Investment Management (Shanghai) Co., Ltd BlackRock issued a client bulletin on March 2nd outlining our approach to companies that manufacture and sell civilian firearms. Share this article. strategy, and products. At Blackrock TCP Capital Corp., we promise to treat your data with respect and will not share your information with any third party. Certain factors that could cause actual results to differ materially from those contained in the forward-looking statements are included in the Risk Factors section of the Companys Form 10-K for the year ended December 31, 2020, and the Companys subsequent periodic filings with the SEC. On 07/29/2020 DAVID HOLLANDER filed an Other court case against TENNENBAUM CAPITAL PARTNERS, LLC, in Los Angeles County Superior Courts. BlackRock to acquire private credit firm - InternationalInvestment Jim Keenan, a longtime BlackRock executive, has led the firm's credit platform since 2006. Former employees said they believed that BlackRock management had told Trucano, who runs BlackRock's opportunistic credit platform and works on special situations and distressed investing, that TCP would not encroach on Trucano's business. Howard will serve as Chairman of BlackRocks US Private Capital business until the end of the year. Tennenbaum Capital Partners acquired by BlackRock - Crunchbase 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. Steenberg remains on PEP's investment committees and is involved in client relationships and priorities for the business. 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. New York, NY 10055-0003 Weldon is based in London. BlackRock Completes Acquisition of Tennenbaum Capital Partners By offering a growing array of alternatives, traditional asset managers tap into stickier fees and revenue and boost organic growth, they wrote. earnings per share. our business as we continue to employ the successful strategy we Baranski has been there, virtually, since the beginning she said in an interview last fall with SALT that she joined PEP before it closed on its first fund. He is an investment professional focused on the direct lending and special situations credit strategies. BlackRock Capital Investment Corporation, et al. - Federal Register Contact Email mailbox@tennenbaumcapital.com. liquidity and geography. BlackRock is to acquire Tennenbaum Capital Partners, an investment manager focused on middle market performing credit and special situation credit opportunities. He joined BlackRock in 2017 when the firm acquired funds from First Reserve, a private-equity firm that invests exclusively in the energy sector. origination network, and a premium and expanded set of private credit In recent months, three BlackRock investment professionals who moved to the firm in the TCP deal have left. Sophisticated investors who are focused on "special situations," as the style is broadly known, seize on major corporate events like bankruptcies, acquisitions, or litigation, which impact the price of an asset. inception. Copies are available on the SEC's website at www.sec.gov and the Company's website at http://www.tcpcapital.com. Menu icon A vertical stack of three evenly . "We are seeing an increasing blurring of what used to be clearly distinct business models, whether this is a convergence between asset and wealth management, LPs becoming direct investors, asset and liability pools moving fluidly between insurers, and pension funds or asset servicers looking to integrate ever closer with their clients," he told Insider in 2020. | Blog: www.blackrockblog.com Florian recently oversaw a significant fund closing. BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a specialty finance company focused on direct lending to middle-market companies as well as small businesses. Mr. Levkowitz was also Chairman and CEO of . The deal, whose financial terms were not divulged, was first announced in April 2018. special situations investing with seasoned investment talent and a Christian Donohue - BlackRock Capital Investment Corporation "Meeting our clients' latent need for such a 'whole portfolio solution' was a key rationale for the eFront acquisition," he said. BlackRock wraps up Tennenbaum Capital Partners acquisition from 8 AM - 9 PM ET. Our combination with BlackRock will provide TCPC with increased resources, scale, and market access to continue to build on our long track record in middle market performing credit and to enhance long-term value for our clients and shareholders., Michael Leitner, a Managing Partner of TCP, said, Joining BlackRocks Global Credit platform presents a unique and compelling opportunity to expand our combined resources. Last year Decarbonization Partners invested in Monolith, aclean hydrogen and materials company, as part of a $300 million round of funding alongside TPG Rise Climate and other investors. BlackRock Completes Acquisition of Tennenbaum Capital Partners, LLC DAVID HOLLANDER VS TENNENBAUM CAPITAL PARTNERS, LLC, ET AL. - UniCourt in Economics and a Ph.D. in Finance. TCP brings significant experience in middle market performing credit and He currently serves with Raj as Co-Head of US Private Capital. Prospective investors considering an investment in BlackRock TCP Capital Corp. should consider the investment objectives, risks and expenses of the Company carefully before investing. "And that's something that we'll continue over the next couple of years with regard to how we're budgeting and how we're thinking about headcount.". Larry Fink/Reuters, Tyler Le/Insider. As Chinas financial markets open up, the risks and rewards are huge for wealth managers, Rootstock Investment Management acquired by Stonehage Fleming, Schroders annual operating profit dips 14% to 723m, Julius Baer launches global AI journey with NEXT initiative, Whos saying what? I am especially proud that we have attracted and developed a deep bench of first-class investment talent that allows for this smooth transition.. TCP brings significant experience in middle market performing credit and special situations . Colm Lanigan plays a key role in steering BlackRock's Long Term Private Capital strategy. It was updated in February 2023 to reflect new reporting and changes to the leadership of BlackRock Alternatives. Conway joined BlackRock in 2011 from alternatives giant Blackstone, where he was a senior managing director leading global investor relations and business development. We have worked together as partners for more than 15 years and together we built an industry-leading private credit platform. United Kingdom. BlackRock bought Merrill Lynch Investment Management in 2006. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. After submitting your request, you will receive an activation email to the requested email address. Capital Partners, LLC (TCP), bolstering BlackRocks position as a The combination with BlackRock couples TCP's longstanding experience and strong track record in private credit origination and underwriting with BlackRock's credit expertise, brand, and global scope, providing the Company with access to greater resources to provide a more complete solution to middle market companies. globally. Announces Leadership Transitions, https://www.businesswire.com/news/home/20210601006057/en/. d18rn0p25nwr6d.cloudfront.net The deal, whose financial terms were not divulged, was first announced in April 2018. Edmentum Secures $25 Million in Capital | Edmentum Prospective investors considering an investment in BlackRock TCP Capital Corp. should consider the investment objectives, risks and expenses of the Company carefully before investing. leading global credit manager and enhancing its ability to provide BlackRock Completes Acquisition of Tennenbaum Capital Partners, LLC Media:Farrell Denby, 212-810-8034Farrell.Denby@BlackRock.comInvestor 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. If you experience any issues with this process, please contact us for further assistance. PDF BlackRock Capital Investment Corporation, et al. - SEC Smith helps oversee and set strategy and direction for the alternatives business, and reports to Edwin Conway.

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