Mr. Donohue was a Managing Director at Tennenbaum Capital Partners (TCP) when it was acquired by BlackRock in 2018. BlackRock is to acquire Tennenbaum Capital Partners, an investment manager focused on middle market performing credit and special situation credit opportunities. Other senior departures who did not join BlackRock through the TCP deal included Michael Zugay, former head of US private capital; Alex Dashiell, a former managing director in USPC and a member of its investment committee; and Aaron Kless, former head of USPC investment strategies. 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. You must click the activation link in order to complete your subscription. TCP was acquired by BlackRock, Inc. in August of 2018. business development company. to our clients, we provide the investment and technology solutions they "Somebody with her kind of background is like a dream hire, because, obviously, she understands the investing side from having invested in fund of funds for so long," a London-based recruiter told Insider last year for a story on ESG leaders across the industry. the firm managed approximately $6.3 trillion in assets on behalf of Strengthens BlackRocks credit platform to provide more diverse range of The company has a debt-to-equity ratio of 1.21, a quick ratio of 37.97 and a current ratio of 37.97. You can sign up for additional alert options at any time. Pam Chan oversees the investment management of portfolios within the Alternative Solutions Group, BlackRock's multi-alternative portfolio-management team. SANTA MONICA, Calif., Aug. 1, 2018 /PRNewswire/ -- BlackRock TCP Capital Corp. (NASDAQ: TCPC) (the 'Company') announced today that BlackRock, Inc.. TCP is based in Los Angeles and has approximately $9 billion of committed client capital as of December 31, 2017. 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. For additional information on BlackRock, please visitwww.blackrock.com/corporate. earnings per share. For more information, please Subscriber Benefit. Strengthens BlackRocks credit platform to provide more diverse range of solutions for clientsComplementary acquisition assures continuity of TCP leadership, strategy, and products. | Blog: www.blackrockblog.com Prior to TCP, Mr. Donohue held various roles within GE Capital's Media and Telecom group from 2000 to 2006. in-demand moment for the private credit market, big traditional asset managers are going after. client assets across multi-strategy credit, leveraged finance, and (212) 810-5300, BlackRock Inc. (NYSE:BLK) Conway joined BlackRock in 2011 from alternatives giant Blackstone, where he was a senior managing director leading global investor relations and business development. Mr. Levkowitz was also Chairman and CEO of . 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. Steenberg remains on PEP's investment committees and is involved in client relationships and priorities for the business. need when planning for their most important goals. client assets across multi-strategy credit, leveraged finance, and BlackRock has prioritized growing its $320 billion alternative business in recent years, with a focus on private market investing. Many investment companies, to be sure, face challenges in hiring and retention. "People really felt burned by promises that were not delivered on, and felt they were misled, especially with special situations," one of the former employees said, adding that they felt management "told Trucano one thing" and told the TCP team "the exact opposite.". Edwin Conway announced to employees last September that Steenberg would start handing off his day-to-day responsibilities to the longtime executives Lynn Baranski and John Seeg, who officially started to co-lead the business as of January 1. He has led these investment strategies across the Americas and the Asia Pacific region since the firm's renewable power offerings were founded in 2011. 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. . There is a lot more capital coming into this space," Tseng told Insider. We have worked together as partners for more than 15 years and together we built an industry-leading private credit platform. Media:Farrell Denby, 212-810-8034Farrell.Denby@BlackRock.comInvestor You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Another person said: "BlackRock doesn't pay that well. BlackRock helps investors build better financial futures. 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. The leadership team steering the alternatives business has changed recently. Copies are available on the SECs website at www.sec.gov and the Companys website at www.tcpcapital.com. On 07/29/2020 DAVID HOLLANDER filed an Other court case against TENNENBAUM CAPITAL PARTNERS, LLC, in Los Angeles County Superior Courts. Investment manager BlackRock has closed the acquisition of Tennenbaum Capital Partners (TCP), a US-based private credit manager. As of June 30, 2018, TCPs nearly 90-person team has joined The "Russ did more than found a business," Conway said in the September memo seen by Insider. Since 2021 the business also hired a new chief operating officer, a new head of sustainability, and two additional top executives focused on sustainable investments. | Blog: www.blackrockblog.com "BlackRock is great at raising low-fee capital ETFs, mutual funds. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. You can sign up for additional alert options at any time. Prospective investors considering an investment in BlackRock TCP Capital Corp. should consider the investment objectives, risks and expenses of the Company carefully before investing. risk spectrums and market cycles, said James Keenan, Global Co-Head of 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. Karyn L. Williams Named Independent Director of BlackRock TCP Capital Corp. 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. TCP brings significant experience in middle market performing credit and Global Credit platform presents a unique and compelling opportunity to leading global credit manager and enhancing its ability to provide 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. As of March 31, 2018, The recent tragedy in Florida has put a spotlight on the role of companies that manufacture and distribute civilian firearms. This information and other information about the Company are available in the Companys filings with the Securities and Exchange Commission ("SEC"). Certain factors that could cause actual results to differ materially from those contained in the forward-looking statements are included in the Risk Factors section of the Companys Form 10-K for the year ended December 31, 2020, and the Companys subsequent periodic filings with the SEC. 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Since then, however, more than a dozen professionals have left the 35-person investment team that joined from Los Angeles-based TCP, Insider has learned. 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. special situations investing with seasoned investment talent and a Menu icon A vertical stack of three evenly . She also held several roles at Goldman Sachs. In 2018, Keenan helped steer the firm's acquisition of Tennenbaum Capital Partners, an investment manager that expanded the alternatives unit's foothold in the competitive private credit market. liquidity and geography. 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. Now, Baranski uses the size and range of what BlackRock offers as part of her team's pitch. Meanwhile last year BlackRock fired the former co-heads of secondaries and liquidity solutions, along with a third managing director, after they said they planned to leave for Apollo Global Management together, Bloomberg reported. BlackRock Inc, the world's largest asset management firm, . Clients of both firms will benefit from this powerful including the investments of TCP Capital Corp. (NASDAQ: TCPC), a evolving needs. 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. BlackRock helps investors build better financial futures. the firm managed approximately $6.317 trillion in assets on behalf of 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. After BlackRock acquired private credit firm Tennenbaum Capital Partners, more than a dozen employees left the small investment team. 5 Competitive Advantages of BlackRock Global Credit Expertise $105 billion(1) in AUM across credit They contribute just 11% of base fees. Building an Innovative Financial Technology Ecosystem in Scotland. Keenan sits on several senior committees within BlackRock, including the global operating committee and the executive committee of BlackRock Alternatives. investors worldwide. alternative to traditional fixed income allocations. "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. "So we understand that there could be normative attrition and churn. "I was on the academic track, applying for faculty positions and transition grants for my life in academia.
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