continue to build on our long track record in middle market performing Since co-founding TCP more than two decades ago, Howard has built a culture of strong investment performance. TCP is the perfect complement to the existing credit business at The capital-markets executive Brent Patry's role was expanded last fall to include the role of deputy head of alternatives. "It's not to say that the private credit market is easy to manage talent. He joined TCP in 2006 and served as TCPCs President and Chief Operating Officer since its IPO in 2012. BlackRocks Global Credit team now manages more than $90 billion in This asset base includes TCPs approximately $9 billion of performing credit and special situations investing with BlackRocks visit www.blackrock.com He joined BlackRock in 2011 from Deutsche Bank, most recently as a director in the retail sales division. "They could just decide: 'We're going to start our own company.'". 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 . TCP with its more than $9 billion in committed . The acquisition of TCP accelerates our growth Lynn Baranski co-leads Private Equity Partners, BlackRock's private equity business known as PEP, with John Seeg. 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 TCP Capital Corp. also announced today that Karyn L. Williams has been appointed to its board of directors as an independent director. In his role as chairman of direct private equity, Bourbonnais chairs the two direct private equity offerings: Long Term Private Capital and Decarbonization Partners. The TCP Rainier CLO issue follows its TCP Waterman CLO refinancing and TCP Whitney CLO issuance. Many investment companies, to be sure, face challenges in hiring and retention. The fund seeks to invest in healthcare services, pharmaceuticals and biotechnology, manufacturing, and life sciences sectors. Tennenbaum Capital Partners, LLC is a large advisory firm based in Santa Monica. A key element of Llc Blackrock Capital Investment Advisors: Member: 1 Aug 2018: 75% - 100%: 290336: Lee Robert Landrum: Managing director: 1 . To bolster that growth, BlackRock acquired the small private credit firm Tennenbaum Capital Partners, or TCP, in 2018. Copies are available on the SEC's website at www.sec.gov and the Company's website at http://www.tcpcapital.com. 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. earnings per share. TCPC), a business development company. "Over time, it became clear that BlackRock wanted Tennenbaum to only focus on direct lending, rather than distressed and special situations investing," one of the former employees told Insider. | Blog: www.blackrockblog.com After submitting your request, you will receive an activation email to the requested email address. Relations:Tom Wojcik, 212-810-8127Tom.Wojcik@BlackRock.com, Internet Explorer presents a security risk. 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. new colleagues and leveraging BlackRocks unparalleled resources to But it's never really been good at raising high-fee capital," a former employee said. NEW YORK-- ( BUSINESS WIRE )--BlackRock, Inc. (NYSE:BLK) has completed the acquisition of Tennenbaum Capital Partners, LLC ("TCP"), bolstering . | Blog: www.blackrockblog.com 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. This list was first published in 2020. Enter the Aladdin business and the wider alternatives franchise, which he thinks is well-positioned to address those changes with its variety of technologies. Karyn L. Williams Named Independent Director of BlackRock TCP Capital Corp. 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. from 8 AM - 9 PM ET. 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. 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. Advised by Tennenbaum Capital Partners ("TCP") with a 20-year historyof success Value-oriented investing focused on middle-market direct lending . Terms were not disclosed. Menu icon A vertical stack of three evenly . 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. committed client assets. SANTA MONICA, Calif., Aug. 1, 2018 /PRNewswire/ -- BlackRock TCP Capital Corp. (NASDAQ: TCPC) (the "Company") announced today that BlackRock, Inc. (NYSE: BLK) ("BlackRock . 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. Colm Lanigan plays a key role in steering BlackRock's Long Term Private Capital strategy. As of June 30, 2018, In August 2018, Tennenbaum was acquired by BlackRock. Prior to joining BlackRock, Mr. Levkowitz co-founded Tennenbaum Capital Partners (TCP), where he was a Managing Member and Chairman of the Management Committee. TCP was acquired by BlackRock, Inc. in August of 2018. 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. You can sign up for additional alert options at any time. Disagreements over compensation were at the heart of some employees' frustrations, according to interviews with four of the former employees. 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. On 07/29/2020 DAVID HOLLANDER filed an Other court case against TENNENBAUM CAPITAL PARTNERS, LLC, in Los Angeles County Superior Courts. As a fiduciary He is also on the board of California Science Center Foundation. Keenan sits on several senior committees within BlackRock, including the global operating committee and the executive committee of BlackRock Alternatives. Relations:Tom Wojcik, 212-810-8127Tom.Wojcik@BlackRock.com. BlackRock Asset Management Deutschland AG. 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 . 'The acquisition is the next step in BlackRock's efforts to expand its capabilities and impact of its alternatives business . Jersey City, New Jersey 07310-190
private credit with a combined platform of more than 200 employees We are also excited Florian recently oversaw a significant fund closing. provide TCPC with increased resources, scale, and market access to McKenna is responsible for managing BlackRock's event-driven investing efforts that is, the investment strategy used to profit from price action around a specific event and oversees $7.8 billion in the Event Driven Equity Fund. BlackRock helps investors build better financial futures. Seeg was previously PEP's global head of client solutions and strategy. 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. (800) 903-8567, BlackRock Completes Acquisition of Tennenbaum Capital Partners, https://www.businesswire.com/news/home/20180801005501/en/. Howard is a leader in the industry and was a key architect in building the US Private Capital business. He currently serves on the Board of Directors of Real Mex Restaurants, EuroSeas, EuroDry and Blue Wall Shipping. Tennenbaum Capital Partners Tennenbaum Capital Partners, LLC (TCP) is a leading multi-strategy alternative investment management firm focused primarily on credit Acquiring Organization: BlackRock BlackRock is an investment company that offers its services to institutions, intermediaries, foundations, and individual investors. Chan is also chair of the alternative solutions investment committee and sits on the executive committee of BlackRock Alternatives. 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. His previous roles include running BlackRock's trading and liquidity strategies group for the international regions of EMEA and the Asia Pacific. BlackRock TCP Capital Corp. BlackRock Inc. and Tennenbaum Capital Partners, LLC 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 providing clients with a diverse range of alternative . BlackRock Asset Management Canada Limited. 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.. Prospective investors considering an investment in BlackRock TCP Capital Corp. should consider the investment objectives, risks and expenses of the Company carefully before investing. Keenan joined the firm in 2004 and previously worked alongside Tim O'Hara, who left for Wells Fargo last year. Like Baranski and Steenberg, Seeg joined the firm through its 2006 acquisition of Merrill Lynch Investment Management. He is currently Co-Head and Investment Committee Chair of BlackRocks US Private Capital team. Strengthens BlackRock's credit platform to provide more diverse range of solutions for clients Complementary acquisition assures continuity of TCP leadership, strategy, and products. contact.us@blackrock.com, Computershare Investor Services LLC
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. 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. solutions for clients, Complementary acquisition assures continuity of TCP leadership, 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. After BlackRock acquired private credit firm Tennenbaum Capital Partners, more than a dozen employees left the small investment team . Mark Florian is responsible for BlackRock's diversified infrastructure investments globally. Forward-looking statements involve risks and uncertainties in predicting future results and conditions. She was previously the global head of investments for PEP. TCP is based in Los Angeles and has approximately $9 billion of He was previously responsible for the institutional client business, or ICB, for Europe, the Middle East, and Africa and was global head of the ICB's financial institutions group. 55 East 52nd Street
Capital Partners, LLC (TCP), bolstering BlackRocks position as a The acquisition augments BlackRock's . committed client capital as of December 31, 2017. combination, which will result in enhanced scale and a broader Copies are available on the SEC's website at www.sec.gov and the Company's website at http://www.tcpcapital.com. investment talent and a strong long-term track record at a time when business development company.