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. BlackRock TCP Capital Corp. BlackRock helps investors build better financial futures. Its more than 80-person team, which will join BlackRock as part of the transaction, has demonstrated strong performance over nearly two decades. 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. This is TCP's third CLO issuance in the past 12 months. liquidity and geography. Before she became the investment chief of the group, she served as a senior portfolio manager and primary deputy to the group's former investment boss. This acquisition will enhance our ability to deliver clients private credit solutions that meet their investment objectives across a range of risks, liquidity, and geographies..
need when planning for their most important goals. Forward-looking statements involve risks and uncertainties in predicting future results and conditions. Capital Partners, LLC (TCP), bolstering BlackRocks position as a After submitting your request, you will receive an activation email to the requested email address.
TCP Direct Lending Fund VIII Profile: Returns & Limited Partners Jersey City, New Jersey 07310-190
For more information, visit www.tcpcapital.com. 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. This information and other information about the Company are available in the Company's filings with the Securities and Exchange Commission ("SEC"). He joined TCP in 2006 and served as TCPCs President and Chief Operating Officer since its IPO in 2012. In connection with the transaction, the Company's name was changed from TCP Capital Corp. to BlackRock TCP Capital Corp. Tcp Direct Lending Fund Viii, LLC is a private equity fund operated by Tennenbaum Capital Partners, Llc and has approximately $190 million in assets. He also sits on BlackRock's global executive committee and chairs BA's executive committee. 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. to our clients, we provide the investment and technology solutions they earnings per share. As of June 30, 2018, Forward-looking statements involve risks and uncertainties in predicting future results and conditions. Media:Farrell Denby, 212-810-8034Farrell.Denby@BlackRock.comInvestor special situations investing with seasoned investment talent and a visit: www.tennenbaumcapital.com BlackRock and, pending the approval of TCP Capital Corp.s shareholders, 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. He joined BlackRock in 2019 from the Abu Dhabi Investment Authority, the sovereign wealth fund giant, where he was head of private equities for the Americas. BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a specialty finance company focused on direct lending to middle-market companies as well as small businesses. Terms were not disclosed. NEW YORK, April 17, 2018 /PRNewswire/ -- BlackRock Inc. (NYSE: BLK) and Tennenbaum Capital Partners, LLC ("TCP") today announced a definitive agreement under which . Forward-looking statements are made as of the date of this press release, and are subject to change without notice.
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. 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. asset manager and advances its goal of providing clients with a diverse A key element of BlackRock Asset Management Canada Limited. Previously, he co-founded Tennenbaum Capital Partners, a leading specialty credit investor. 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. All of TCP's partners signed employment agreements and were expected to join BlackRock, while TCP anticipated that all of its more than 80 employees would move to the money manager, a May 2018 presentation TCP provided to a public pension investor shows. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Terms were not disclosed. 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. earnings per share. Keenan sits on several senior committees within BlackRock, including the global operating committee and the executive committee of BlackRock Alternatives. 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. Apr 17, 2018, 07:40 ET. "Meeting our clients' latent need for such a 'whole portfolio solution' was a key rationale for the eFront acquisition," he said. currently serves as the investment adviser of TCP Capital Corp. (NASDAQ: earnings per share.
10-K Form - Annual report [Section 13 and 15(d), not S-K Item 405 NEW YORK--(BUSINESS WIRE)-- "I've always been a builder of teams and a builder of businesses," he told the podcast Capital Allocators in 2019. You can sign up for additional alert options at any time. Franklin Templeton, T. Rowe Price, AllianceBernstein, and PGIM have all announced alternative asset acquisitions since 2021. will be the premier business of its kind., We are focused on building a private credit business that seizes on TCPC's investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. Still, in recent years management has made it clear that its private investment capabilities need to be an important engine of growth. 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 . Earlier in her career she spent 13 years at Blackstone, where she was a cohead of the firm's London office for hedge-fund solutions. Stay up to date with what you want to know. 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 investment . transaction, TCP is expected to become a wholly-owned subsidiary of invrel@blackrock.com, BlackRock Funds, Services and Capabilities
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 . The transaction will not have a material impact on BlackRocks earnings. special situations investing with seasoned investment talent and a Mr. Berry held a similar role at Tennenbaum Capital Partners prior to its acquisition by BlackRock in 2018.
Raj Vig - Biographies | BlackRock SALT Howard Levkowitz Description. If you experience any issues with this process, please contact us for further assistance. The acquisition augments BlackRock's . For additional information on BlackRock, please | LinkedIn: www.linkedin.com/company/blackrock. 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. capabilities. New York, NY 10055-0003
Since the firms founding in 1999, TCP has invested approximately $9 billion in over 170 portfolio companies through . 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. today announced a definitive agreement under which BlackRock will In connection with the transaction, the Company's name was changed from TCP Capital Corp. to BlackRock TCP . Clients of both firms will benefit from enhanced scale, a broader long-term secular trends to deliver for clients the best results across Lanigan, based in New York, is the chief investment officer of direct private equity and runs LTPC for the Americas. portfolio allocation and risk, said David Blumer, Global Head of TCP brings significant experience in middle market performing credit and special situations . Sharp, who has a PhD in microbial genetics, didn't always know she would work in finance. 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. Edwin Conway oversees the wider alternative-investment strategy across nontraditional assets like private equity, hedge funds, and infrastructure.
BlackRock Completes Acquisition of Tennenbaum Capital Partners leading global credit manager and enhancing its ability to provide Upon completion of the Howard and Raj built TCPC into a top-performing BDC with an impressive track record of consistently delivering strong shareholder returns. Find the latest BlackRock TCP Capital Corp. (TCPC) stock quote, history, news and other vital information to help you with your stock trading and investing. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. BlackRock is to buy private credit firm Tennenbaum Capital Partners (TCP) in a move that will strengthen the world's largest asset managers' credit platform and diversify its alternative investment offerings. The acquisition of TCP accelerates our growth plans and augments our position as a leading credit asset manager. TCPC's investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. The Company's shareholders will benefit from enhanced scale, a broader origination network, and a premium and expanded set of private credit capabilities. "It's not to say that the private credit market is easy to manage talent. When typing in this field, a list of search results will appear and be automatically updated as you type. committed client assets. TCP is based in Los Angeles and has approximately $9 billion of Despite senior-level exits, the business has grown headcount and client assets since 2018.
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He is also global head of BlackRock's capital markets group, known as BCM, which includes alternatives co-investing and private sourcing and origination. need when planning for their most important goals. Is this a year of opportunity for investments in China?
BlackRock Completes Acquisition of Tennenbaum Capital Partners, LLC This information and other information about the Company are available in the Companys filings with the Securities and Exchange Commission ("SEC"). Behind the firm's push: already-low fees under pressure in BlackRock's core fund business, the fast-expanding private markets, and demand from clients. clients with private credit solutions across a range of risk level, police officer relieved of duty. biogen senior engineer ii salary. pioneered nearly two decades ago.
. "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. visit www.blackrock.com | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock. financial impact of the transaction is not material to BlackRock BlackRock has prioritized growing its $320 billion alternative business in recent years, with a focus on private market investing. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. strong long-term track record to the BlackRock global credit platform. The financial impact of the transaction is not material to BlackRock companies. 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 . to our clients, we provide the investment and technology solutions they (800) 903-8567, BlackRock, Inc. to Acquire Private Credit Manager Tennenbaum Capital Partners, https://www.businesswire.com/news/home/20180417006773/en/. The business builds "bespoke customized exposure for clients through hedge-fund exposure," Edwin Conway said of the group during an industry conference in 2020. 2. "Investors vote with their wallets. Conway joined BlackRock in 2011 from alternatives giant Blackstone, where he was a senior managing director leading global investor relations and business development. It's the fourth vintage of BlackRock's flagship global diversified infrastructure equity fund series. to our clients, we provide the investment and technology solutions they institutional investors. TCP manages funds and accounts on behalf of global institutional investors. She is a graduate of Arizona State University where she earned a B.S. Clients of both firms will benefit from enhanced scale, a broader The capital-markets executive Brent Patry's role was expanded last fall to include the role of deputy head of alternatives. focused on delivering a range of products and innovative solutions for In recent months, three BlackRock investment professionals who moved to the firm in the TCP deal have left. 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. 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. Media:Farrell Denby, 212-810-8034Farrell.Denby@BlackRock.comInvestor Forward-looking statements are made as of the date of this press release and are subject to change without notice. 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. BP Ventures has backed companies like Fulcrum, which produces bio-diesel from solid municipal waste that jet engines use. in-demand moment for the private credit market, big traditional asset managers are going after. Share this article. It's not, because it's competitive. Today, Black BlackRock, Inc. (NYSE: BLK) has completed its acquisition of Cachematrix, a leading provider of financial technology which simplifies the 2023 BlackRock, Inc. All rights reserved. Lanigan led the first LTPC deal, in Authentic Brands, Institutional Investor reported in 2019. He worked there for 23 years and was a partner. performing credit and special situations investing with BlackRocks Relations:Tom Wojcik, 212-810-8127Tom.Wojcik@BlackRock.com, Internet Explorer presents a security risk. "All we do is enable someone to go to the moon. Howard, Raj and Phil led the successful integration of TCP to develop BlackRocks US Private Capital team, which today is a leader in private credit. As a fiduciary Prospective investors should read these materials carefully before investing. Tennenbaum Capital PartnersMedia:KekstMark Summary. NEW YORK--(BUSINESS WIRE)--BlackRock, Inc. (NYSE:BLK) has completed the acquisition of Tennenbaum The unit will work with portfolio managers and BCM, the firm's capital markets group, to source and back transition-related investments across asset classes around the world, Edwin Conway told employees in October in a memo viewed by Insider.
BlackRock Completes Acquisition of Tennenbaum Capital Partners The fund seeks to invest in healthcare services, pharmaceuticals and biotechnology, manufacturing, and life sciences sectors. the firm managed approximately $6.3 trillion in assets on behalf of Terms were not disclosed. His role was formally expanded to include the role of deputy head of BlackRock Alternatives last fall. 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. Forward-looking statements involve risks and uncertainties in predicting future results and conditions.
Tennenbaum Capital Partners, LLC (Santa Monica) - wallmine Raj Vig, President and Chief Operating Officer of BlackRock TCP Capital Corp. said, I am grateful to have had the privilege of working alongside Howard Levkowitz for many years. Since its founding in 1999, TCP has invested approximately $22 billion in over 560 companies. private credit with a combined platform of more than 200 employees "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. BlackRock said when it acquired TCP that a "key element" of the deal was TCP's senior management team including Leitner, Levkowitz, Tseng, and Vig sticking around. . "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.". need when planning for their most important goals. By offering a growing array of alternatives, traditional asset managers tap into stickier fees and revenue and boost organic growth, they wrote. Together, BlackRock and TCP expect to offer clients Mahmoud joined BlackRock in 2014. He is also on the board of California Science Center Foundation.
Tennenbaum Capital Partners Fund Manager Profile | Preqin 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. TCP was acquired by BlackRock, Inc. in August of 2018. In 2018, Keenan helped steer the firm'sacquisition of Tennenbaum Capital Partners, an investment manager that expanded the alternatives unit's foothold in the competitiveprivate creditmarket.
BlackRock to Acquire Tennenbaum Capital Partners - Citybizlist earnings. The financial impact of the transaction is not material to BlackRock earnings.
Meet BlackRock's Alternative-Investments Execs Driving Growth in contact.us@blackrock.com, Computershare Investor Services LLC
"You can see how important alternatives are going to be for the future of BlackRock," he said during the conference held by Bank of America on February 16. Prior to co-founding TCP in 1996, Mr. Holdsworth worked as an investment banker and in real estate.
BlackRock buys private credit shop in alts push | Citywire Fri 05 Feb, 2021 - 10:32 AM ET.
BlackRock, Inc. to Acquire Private Credit Manager Tennenbaum Capital If you experience any issues with this process, please contact us for further assistance. The presentation, which was published online by the pension, also said that incentive or retention packages were to be offered to TCP investment team members. The departures come as BlackRock aims to compete more aggressively in private credit, a key part of its high-priority alternatives push. including the investments of TCP Capital Corp. (NASDAQ: TCPC), a New York, NY 10055-0003
TCP complements BlackRocks Global Credit business with seasoned investment talent and a strong long-term track record at a time when clients are increasingly turning to private credit as a higher-yielding alternative to traditional fixed income allocations. Capital Partners, LLC (TCP), bolstering BlackRocks position as a | Blog: www.blackrockblog.com Katie McGlynn Howard Levkowitz to Retire as Chairman and Chief Executive Officer; Board Appoints Rajneesh Vig as Successor; Phil Tseng Named President and Chief Operating Officer. He cofounded the event-driven fund there. 80-person team, which will join BlackRock as part of the transaction, 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 . View source version on businesswire.com: TCP Direct Lending Fund VIII is a direct lending fund managed by Tennenbaum Capital Partners. Tennenbaum Capital Partners, LLC ("TCP") is an alternative investment BlackRock announced it will acquire private credit manager Tennenbaum Capital Partners in a deal that strengthens the $6.3 trillion money manager's credit platform. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. This information and other information about the Company are available in the Company's filings with the Securities and Exchange Commission ("SEC"). Sharp joined Decarbonization Partners from oil giant BP's corporate venture capital arm, where she was global head. We expect to continue to grow and diversify the portfolio and further increase our earnings power," he said. Date acquired Ownership Employer ID; Howard Marshall Levkowitz: Managing partner: 1 May 1999: Other: 4404130: Llc Tennenbaum & Co. . 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. You can sign up for additional alert options at any time. BlackRock Inc, the world's largest asset management firm, . The acquisition of TCP accelerates our growth
Tennenbaum Capital Partners, LLC | LinkedIn origination network, and a premium and expanded set of private credit Weldon is based in London. Phil Tseng will assume the role of Chief Operating Officer on August 5, 2021, and President on September 30, 2021. As of June 30, 2018, 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. Now, Baranski uses the size and range of what BlackRock offers as part of her team's pitch. Copies are available on the SEC's website at www.sec.gov and the Company's website at http://www.tcpcapital.com. Within months of the TCP deal closing, Kapito flew to Los Angeles to meet with the investment team, one of the former employees said, noting that the group had already lost multiple managing directors by then. Capital Corp. and continue to focus on executing the same proven
BlackRock raises $2 billion for Global Credit Opportunities Fund Its more than Were well positioned to capitalize on the tremendous opportunity ahead in direct lending. expertise and platform scale can drive returns, said Tim OHara, Global
Christian Donohue - BlackRock Capital Investment Corporation At Blackrock TCP Capital Corp., we promise to treat your data with respect and will not share your information with any third party. 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, Inc. to Acquire Private Credit Manager Tennenbaum Capital enhance our ability to serve clients and borrowers. BlackRock Asset Management Deutschland AG. Slattery left BlackRock and was named chief operating officer of CBC Group this month. 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. 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. Florian started the energy and power infrastructure business at First Reserve in 2008, when he joined the company from Goldman Sachs. 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 . Levkowitz, Philip Tseng, and Rajneesh Vig). The transaction, which is expected to close in the third quarter of 2018, is subject to customary regulatory and closing conditions. Jersey City, New Jersey 07310-190
expand our combined resources. She is a graduate of Arizona State University where she earned a B.S.
diversification are increasingly turning to private credit where both the transaction is the continuity of TCPs successful senior management Phil joined TCP in 2004 and was as a managing partner prior to the BlackRock acquisition. 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. BlackRock.. ", "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. Previously, she was Head of Client Solutions at Two Sigma Advisors. At BlackRock Inc., we promise to treat your data with respect and will not share your information with any third party. Conway previously ran BlackRock's key institutional-client business, where he was responsible for the overall strategy for the firm's relationships with institutional clients like sovereign wealth funds, public and private pension plans, and foundations.
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