Prior to joining BlackRock, Mr. Levkowitz co-founded Tennenbaum Capital Partners (TCP), where he was a Managing Member and Chairman of the Management Committee. The business oversaw $30 billion as of December. "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. Tennenbaum was formally organized in 1999. | Twitter: @blackrock Tennenbaum Capital Partners, LLC ("TCP") is an alternative investment By providing your email address below, you are providing consent to Blackrock TCP Capital Corp. to send you the requested Investor Email Alert updates. Building an Innovative Financial Technology Ecosystem in Scotland. BlackRock TCP Capital is an externally-managed BDC that was formed after the well-known asset manager BlackRock ( BLK) acquired Tennenbaum Capital Partners LLC. In his role as chairman of direct private equity, Bourbonnais chairs the two direct private equity offerings: Long Term Private Capital and Decarbonization Partners. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. Russell Steenberg built what would become BlackRock's original alternative asset offering when, in 1999, he joined Merrill Lynch's asset management business to build its private equity unit. business development company. Private markets are "a major strategic area of focus at BlackRock," Morgan Stanley analysts led by Betsy Graseck wrote in a research report in June. Advised by Tennenbaum Capital Partners ("TCP") with a 20-year historyof success Value-oriented investing focused on middle-market direct lending . Our thought leadership in investing, risk management, portfolio construction and trading solutions. "When you join a big company like BlackRock, it's just a lot more political. TCP Direct Lending Fund VIII is a direct lending fund managed by Tennenbaum Capital Partners. in Atlanta, New York and San Francisco. BlackRock Inc a leading global investment management company based in New York said it is going to acquire an alternative investment management firm Tennenbaum Capital Partners LLC (TCP). private credit with a combined platform of more than 200 employees Institutional investors and hedge funds own 28.63% of the company's stock. 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. Tim O'Hara, then BlackRock's global co-head of credit, helped oversee the TCP acquisition. TCP brings significant experience in middle market performing credit and We look forward to collaborating with our Terms of the deal were not . Upon completion of the 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. of Funds Currently Managed . in-demand moment for the private credit market, big traditional asset managers are going after. Terms were not disclosed. 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. . investor.relations@tcpcapital.com. Longtime BlackRock executive David Giordano leads the alternatives unit's investments in climate-related infrastructure globally, with responsibility for investment strategy and managing the organization. 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. Global Mergers and Acquisitions (M&A) Deals in the In UK IFAs, Investment Managers, & Platforms, Craven Street Wealth snaps up London-based Bernard Barrett Associates, Credit Suisse targets rich Asian clients with higher deposit rates. Canada. ", "When people ask me what I do I'm just a small piece," Smith said, noting the many product specialists, investors, technologists, and other colleagues she works with. invrel@blackrock.com, BlackRock Funds, Services and Capabilities The recent tragedy in Florida has put a spotlight on the role of companies that manufacture and distribute civilian firearms. 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. A key element of Clashes between investment teams, deflated hopes of a fund launch, and pay disputes have contributed to a years-long wave of departures from BlackRock's private credit investing team, former employees tell Insider. For more information, visit www.tcpcapital.com. 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. One major point of contention within the group was whether employees from the TCP team would be able to launch their own special situations fund at BlackRock which never came to fruition, people familiar with the matter said. Some employees from the TCP team stayed long enough to receive their retention bonus, one of the people said. BlackRock and will continue to be responsible for managing TCP products, NEW YORK--(BUSINESS WIRE)-- contact.us@blackrock.com, Computershare Investor Services LLC | Twitter: @blackrock "I think it's a little bit of a culture shock to go from a smaller group that's a little more intimate and meritocracy based and that's probably tough on folks.". He joined TCP in 2006 and served as TCPCs President and Chief Operating Officer since its IPO in 2012. from 8 AM - 9 PM ET. The money manager has been on a mission to grow its $318 billion alternatives business. Bourbonnais joined BlackRock in 2018 from the world of Canadian pensions. At BlackRock Inc., we promise to treat your data with respect and will not share your information with any third party. We look forward to collaborating with our new colleagues and leveraging BlackRocks unparalleled resources to enhance our ability to serve clients and borrowers. Copies are available on the SEC's website at www.sec.gov and the Company's website at http://www.tcpcapital.com. business development company. To bolster that growth, BlackRock acquired the small private credit firm Tennenbaum Capital Partners, or TCP, in 2018. "He helped move BlackRock in a new direction, laying a cornerstone for BlackRock Alternatives and the important solutions that our clients would need.". To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 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. 480 Washington Boulevard Like Steenberg and Seeg, Baranski joined the firm through its 2006 acquisition of Merrill Lynch Investment Management. NEW YORK-- ( BUSINESS WIRE )--BlackRock, Inc. (NYSE:BLK) has completed the acquisition of Tennenbaum Capital Partners, LLC ("TCP"), bolstering . For additional information on BlackRock, please Semer, 212-521-4800orFinancial ProfilesMoira Conlon, police officer relieved of duty. Apr 17, 2018, 07:40 ET. Cision Distribution 888-776-0942 Its more than 80-person team, which will join BlackRock as part of the transaction, has demonstrated strong performance over nearly two decades. August 01, 2018 08:43 AM Eastern Daylight Time. the firm managed approximately $6.3 trillion in assets on behalf of need when planning for their most important goals. BlackRock Completes Acquisition of Tennenbaum Capital Partners. Terms were not disclosed. 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. This asset base includes TCPs approximately $9 billion of Forward-looking statements are made as of the date of this press release, and are subject to change without notice. | LinkedIn: www.linkedin.com/company/blackrock. Since 1999, we've been a leading provider of financial technology, and our clients turn to us for the solutions they need when planning for their most important goals. 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. But we try to take that into account, and we've really invested in the business to scale our team commensurate with our capital base and our deployment.". John Seeg co-leads Private Equity Partners, BlackRock's private equity business known as PEP, with Lynn Baranski. The acquisition of TCP accelerates our growth plans and augments our position as a leading credit asset manager. Before she joined BlackRock in 2014, Valentine Andrews was the co-head and operating chief for Morgan Stanley's infrastructure platform, leading capital-raising efforts globally. Seeg was previously PEP's global head of client solutions and strategy. BlackRock executives said in a memo announcing McKenna's appointment in 2014 that there were still many untapped opportunities in the hedge fund space, like event-driven investing, Bloomberg reported at the time. "There are other opportunities right now. BlackRocks Global Credit team now manages more than $90 billion in In October, BlackRock said it raised $4.5 billion for a global infrastructure fund aimed at investing in critical infrastructure assets around the world. By providing your email address below, you are providing consent to BlackRock Inc. to send you the requested Investor Email Alert updates. Private credit has been "a pretty strong asset class for several years now," Sondhelm added, noting that investors are in search of higher levels of income that aren't strongly correlated to the volatility of stocks. Prospective investors should read these materials carefully before investing. | Twitter: @blackrock 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. TCP brings significant experience in middle market performing credit and special situations investing with seasoned investment talent and a strong long-term track record to the BlackRock global credit platform. clients in need of new sources of return and new ways to manage This transition in leadership follows BlackRock's highly successful 2018 acquisition of Tennenbaum Capital Partners ("TCP") that solidified BlackRock as a leading private credit manager. Investment manager BlackRock has closed the acquisition of Tennenbaum Capital Partners (TCP), a US-based private credit manager. By providing your email address below, you are providing consent to BlackRock Inc. to send you the requested Investor Email Alert updates.

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