BlackRock TCP Capital (TCPC)

• Market cap: $605M
• 1 day: -1.39%
• 5 days: -1.79%
• 1 month: 0.99%
• 3 months: -8.72%
• 6 months: -12.32%
• Year to date: -19.73%
• 1 year: -20.36%
• 5 years: -29.44%
• 10 years: -52.25%
• Sector: Financials
• Industry: Asset Management

About: BlackRock TCP Capital Corp is an externally-managed specialty finance company focused on middle-market lending. Its investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It seeks to achieve investment objective through investments in debt securities of middle-market companies. The group generates returns through a combination of the receipt of contractual interest payments on debt investments and origination and similar fees, and, to a lesser extent, equity appreciation through options, warrants, conversion rights or direct equity investments.

Employees: 21,100

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

32% more call options, than puts

Call options by funds: $610K | Put options by funds: $462K

1.18% less ownership

Funds ownership: 22.99% [Q1] → 21.82% (-1.18%) [Q2]

7% less funds holding

Funds holding: 141 [Q1] → 131 (-10) [Q2]

8% less capital invested

Capital invested by funds: $156M [Q1] → $143M (-$13.3M) [Q2]

25% less repeat investments, than reductions

Existing positions increased: 30 | Existing positions reduced: 40

30% less first-time investments, than exits

New positions opened: 21 | Existing positions closed: 30

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $6
• Avg. target: $6
• High target: $6

1 analyst rating

• positive: 0 0%
• neutral: 0 0%
• negative: 1 100%

Wells Fargo Finian O'Shea

$6

Underweight Maintained

12 Aug 2025