With BlackRocks Global Credit team now manages more than $90 billion in companies. Bourbonnais joined BlackRock in 2018 from the world of Canadian pensions. liquidity and geography. She also held several roles at Goldman Sachs. 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. Investors seeking to generate incremental returns and portfolio business development company. By offering a growing array of alternatives, traditional asset managers tap into stickier fees and revenue and boost organic growth, they wrote. 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. The Company's shareholders will benefit from enhanced scale, a broader origination network, and a premium and expanded set of private credit capabilities. Lynn Baranski co-leads Private Equity Partners, BlackRock's private equity business known as PEP, with John Seeg. Seeg was previously PEP's global head of client solutions and strategy. 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 . August 1, 2018, 12:43 PM UTC. In his role as chairman of direct private equity, Bourbonnais chairs the two direct private equity offerings: Long Term Private Capital and Decarbonization Partners. clients with private credit solutions across a range of risk level, and www.tcpcapital.com. Media:Farrell Denby, 212-810-8034Farrell.Denby@BlackRock.comInvestor Subscriber Benefit. Discovery Company profile page for Metrica Srl including technical research,competitor monitor,market trends,company profile& stock symbol TCP is headquartered in Los Angeles with additional offices McKenna also worked at Caxton Associates and Citigroup. leading global credit manager and enhancing its ability to provide capabilities. invrel@blackrock.com, BlackRock Funds, Services and Capabilities "So we understand that there could be normative attrition and churn. including the investments of TCP Capital Corp. (NASDAQ: TCPC), a will be the premier business of its kind., We are focused on building a private credit business that seizes on . To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Menu icon A vertical stack of three evenly . 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. Investment manager BlackRock has closed the acquisition of Tennenbaum Capital Partners (TCP), a US-based private credit manager. Asset Class No. Prospective investors considering an investment in BlackRock TCP Capital Corp. should consider the investment objectives, risks and expenses of the Company carefully before investing. August 01, 2018 08:43 AM Eastern Daylight Time. Ms. Williams will serve on the Audit Committee, the Governance and Compensation Committee, and the Joint Transactions Committee. 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. | LinkedIn: www.linkedin.com/company/blackrock. TCP manages funds and accounts on behalf of global BlackRock wants to build a larger private credit business to expand fee generation and offer clients more than just passive products. BlackRock bought Merrill Lynch Investment Management in 2006. 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. 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. | Twitter: @blackrock BlackRock Inc. and Tennenbaum Capital Partners, LLC (TCP) announced a definitive agreement under which BlackRock will acquire TCP, a manager focused on middle market performing credit and special situation credit opportunities. Copies are available on the SECs website at www.sec.gov and the Companys website at www.tcpcapital.com. including the investments of TCP Capital Corp. (NASDAQ: TCPC), a development company, TCP Capital Corp. (NASDAQ:TCPC). You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. remain the investment adviser of TCP Capital Corp. Current members of 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. He founded the fund in 2014 when he joined BlackRock from Harvard Management Company, which runs Harvard's endowment. Will Britcoin bring legitimacy to cryptocurrency in the UK? . 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. Canada. LTPC, as it's known, is the majority owner of companies including Authentic Brands the owner of Aeropostale, Juicy Couture, and Reebok and luxury fragrance brand Creed. He worked there for 23 years and was a partner. | Twitter: @blackrock Katie McGlynn 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. 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. Edwin Conway oversees the wider alternative-investment strategy across nontraditional assets like private equity, hedge funds, and infrastructure. Having worked closely with Raj Vig over the years as TCPCs President and COO, we have tremendous confidence in Raj to build upon TCPCs success.. For more information, visit www.tcpcapital.com. TCP manages funds and accounts on behalf of global institutional investors. BlackRock Asset . Investment manager BlackRock has closed the acquisition of Tennenbaum Capital Partners (TCP), a US-based private credit manager. And one day, if a company aspires to go public, we certainly will probably be their largest investor on the public side," she said. Mr. Donohue was a Managing Director at Tennenbaum Capital Partners (TCP) when it was acquired by BlackRock in 2018. TCPC is managed by BlackRock, which . We are also excited contact.us@blackrock.com, Computershare Investor Services LLC "BlackRock is great at raising low-fee capital ETFs, mutual funds. 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. The capital-markets executive Brent Patry's role was expanded last fall to include the role of deputy head of alternatives. in-demand moment for the private credit market, big traditional asset managers are going after. She is a graduate of Arizona State University where she earned a B.S. clients with private credit solutions across a range of risk level, Steenberg remains on PEP's investment committees and is involved in client relationships and priorities for the business. Media:Farrell Denby, 212-810-8034Farrell.Denby@BlackRock.comInvestor 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. As a fiduciary This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Jim Barry, the chief investment officer for the unit, decided to leave the firm last year. provide TCPC with increased resources, scale, and market access to Brent Patry is key to steering BlackRock alternatives as deputy head of the overall business, reporting to Edwin Conway. He is also global head of BlackRock's capital markets group, known as BCM, which includes alternatives co-investing and private sourcing and origination. March 18, 2022 . | LinkedIn: www.linkedin.com/company/blackrock. "He helped move BlackRock in a new direction, laying a cornerstone for BlackRock Alternatives and the important solutions that our clients would need.". New York, NY 10055-0003 "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.". If you experience any issues with this process, please contact us for further assistance. "All we do is enable someone to go to the moon. He began his career at UBS Investment Bank's Growth . Private markets represent more than half of the firm's overall performance fees, Rob Kapito, the president of BlackRock, recently said during an industry conference. Form 10-K (annual report [section 13 and 15(d), not s-k item 405]) filed with the SEC Capital Partners, LLC (TCP), bolstering BlackRocks position as a The fund is located in Santa Monica, California and invests in the United States. Tennenbaum Capital Partners, LLC (TCP) is a leading multi-strategy alternative investment management firm focused primarily on credit opportunities. BlackRock had an existing special situations fund in the US, run by David Trucano, a dynamic that spurred internal conflict, the person added. Previously, he co-founded Tennenbaum Capital Partners, a leading specialty credit investor. Former BlackRock employees say underwhelming pay and unfulfilled promises that the team could raise its own special situations fund led to widespread frustration and departures. of Funds Currently Managed . This is TCP's third CLO issuance in the past 12 months. It also manages a publicly-traded business NEW YORK (April 17, 2018) - 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 . 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. Colm Lanigan plays a key role in steering BlackRock's Long Term Private Capital strategy. institutional investors. Prior to TCP, Mr. Donohue held various roles within GE Capital's Media and Telecom group from 2000 to 2006. strong long-term track record to the BlackRock global credit platform. Capital Corp. and continue to focus on executing the same proven ", "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. He is also on the board of California Science Center Foundation. Its more than But when it comes to performance fees those that BlackRock earns for generating strong returns for clients, and last year accounted for $514 million they have an outsized impact. plans and augments our position as a leading credit asset manager. 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. management firm with approximately $9 billion of committed capital 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. our business as we continue to employ the successful strategy we Management has no ownership stake in the fund. TCPs nearly 90-person team has joined BlackRock TCP Capital Corp. also announced today that Karyn L. Williams has been appointed to its board of directors as an independent director. He is responsible for overseeing investment strategy, performance, risk management, and other aspects of the business. "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. 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. 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 financial impact of the transaction is not material to BlackRock earnings. committed client assets. 480 Washington Boulevard You must click the activation link in order to complete your subscription. in 1999, TCP has invested approximately $22 billion in over 560 . Capital Corp., said, We are excited about the growth opportunities for They contribute just 11% of base fees. BlackRock and will continue to be responsible for managing TCP products, 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. "I was on the academic track, applying for faculty positions and transition grants for my life in academia. They could get taken away and hired by another company that wants to enter the space," Sondhelm said. The money manager has been on a mission to grow its $318 billion alternatives business. Before Morgan Stanley, she was a director at Macquarie. investors worldwide. investment strategies and process as they have since TCP Capital Corp.s | Twitter: @blackrock risk spectrums and market cycles, said James Keenan, Global Co-Head of 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. She is a graduate of Arizona State University where she earned a B.S. McDonnell, 212-810-5337tara.mcdonnell@blackrock.comorInvestors:Tom market cycles, diverse expertise, and proven origination capabilities, Copies are available on the SECs website at www.sec.gov and the Companys website at www.tcpcapital.com. BP Ventures has backed companies like Fulcrum, which produces bio-diesel from solid municipal waste that jet engines use. The team builds actively managed portfolios for clients who want diversified exposure to private-market investments. Jersey City, New Jersey 07310-190 Chan is also chair of the alternative solutions investment committee and sits on the executive committee of BlackRock Alternatives.
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