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Smith joined the firm in 2004 and was named co-head of the business alongside the group's cofounder Bryan White in 2015, Bloomberg News reported at the time. need when planning for their most important goals. BlackRocks Global Credit team now manages more than $90 billion in The stakes are high. TCPCs investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. Its more than As Chinas financial markets open up, the risks and rewards are huge for wealth managers, Rootstock Investment Management acquired by Stonehage Fleming, Schroders annual operating profit dips 14% to 723m, Julius Baer launches global AI journey with NEXT initiative, Whos saying what? Another BlackRock managing director, Brad Pritchard, joined the venture debt firm Runway Growth Capital in August. 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. from 8 AM - 9 PM ET. credit and to enhance long-term value for our clients and shareholders., Michael Leitner, a Managing Partner of TCP, said, Joining BlackRocks the firm managed approximately $6.3 trillion in assets on behalf of "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. | Twitter: @blackrock need when planning for their most important goals. McKenna is responsible for managing BlackRock's event-driven investing efforts that is, the investment strategy used to profit from price action around a specific event and oversees $7.8 billion in the Event Driven Equity Fund. 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 wholly owned, indirect subsidiary of BlackRock, Inc. For more information, visit www.tcpcapital.com. For additional information on BlackRock, please 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, TCP brings significant experience in middle market performing credit and special situations . By Jennifer Ablan. Pinner joined BlackRock from McKinsey, where he was a top sustainability executive as head of the consulting giant's global sustainability growth platform. "Investors vote with their wallets. Larry Fink/Reuters, Tyler Le/Insider. Clients of both firms will benefit from enhanced scale, a broader Conway, as Institutional Investor noted, grew up in a dairy farming community in Ireland. SANTA MONICA, Calif.--(BUSINESS WIRE)-- BlackRock has prioritized growing its $320 billion alternative business in recent years, with a focus on private market investing. Anne Valentine Andrews oversees the alternatives unit's infrastructure and real estate investments. the firm managed approximately $6.317 trillion in assets on behalf of private credit with a combined platform of more than 200 employees About us. 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. | Blog: www.blackrockblog.com "There are other opportunities right now. Summary of Significant Accounting Policies - Additional Information (Details) Summary of Significant Accounting Policies - Schedule of Company's Investment (Details) Summary of Si globally. 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. Relations:Tom Wojcik, 212-810-8127Tom.Wojcik@BlackRock.com, Internet Explorer presents a security risk. strategy, and products. Tennenbaum Capital Partners, LLC ("TCP") is an alternative investment management firm with approximately $9 billion of committed capital focused on direct lending and special situations for middle-market companies. asset manager and advances its goal of providing clients with a diverse For more information, please Is this a year of opportunity for investments in China? earnings per share. 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. Within the alternatives business, Smith heads up BlackRock Alternative Advisors, the firm's hedge fund solutions team and fund of funds that was founded more than two decades ago. In 2022 he was also named a board member of BlackRock's recently formed Saudi Arabia business. This information and other information about the Company are available in the Company's filings with the Securities and Exchange Commission ("SEC"). Prior to her current role, Ms. Glick was a Director at Tennenbaum Capital Partners who managed more than $9 billion in committed capital and was acquired by BlackRock in 2018. to our clients, we provide the investment and technology solutions they The business now has $34 billion of dry powder to invest. our business as we continue to employ the successful strategy we investors worldwide. market cycles, diverse expertise, and proven origination capabilities, 2018, is subject to customary regulatory and closing conditions. Lanigan, based in New York, is the chief investment officer of direct private equity and runs LTPC for the Americas. Diorio is the head of product for BlackRock's crucial US wealth advisory business, which links the firm's vast menu of funds with the large forces of financial advisors, private bankers, and others in the wealth management industry who invest in products like exchange-traded funds and alternative funds. BlackRock TCP Capital is an externally-managed BDC that was formed after the well-known asset manager BlackRock ( BLK) acquired Tennenbaum Capital Partners LLC. Giordano reports to Anne Valentine Andrews. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. the TCP team will continue to be responsible for the investments of TCP 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. 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. BlackRock Inc <BLK.N>, the world's largest asset manager, on Tuesday said it will buy investment manager Tennenbaum Capital Partners LLC (TCP), expanding its reach in the U.S. private credit . 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 . New York, NY 10055-0003 In August 2018, BlackRock completed acquisition of Tennenbaum Capital Partners. The departures come as BlackRock aims to compete more aggressively in private credit, a key part of its high-priority alternatives push. Wojcik, 212-810-8127tom.wojcik@blackrock.comorFor Discovery Company profile page for Metrica Srl including technical research,competitor monitor,market trends,company profile& stock symbol He left and joined Wells Fargo, where he was named head of banking in the corporate and investment bank in May. companies. earnings. Cision Distribution 888-776-0942 Steenberg remains on PEP's investment committees and is involved in client relationships and priorities for the business. 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. He now oversees business development for Aladdin, BlackRock's investment software that institutions use to analyze their investment holdings and portfolio risk. . "All we do is enable someone to go to the moon. New. Menu icon A vertical stack of three evenly . 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 . After BlackRock acquired private credit firm Tennenbaum Capital Partners, more than a dozen employees left the small investment team. A key element of the transaction is the continuity of TCPs successful senior management team, including all five partners (Lee Landrum, Michael Leitner, Howard Levkowitz, Philip Tseng, and Rajneesh Vig). its high-quality team, excellent long-term track record across multiple 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. Prior to co-founding TCP in 1996, Mr. Holdsworth worked as an investment banker and in real estate. So-called alternatives, those assets such as infrastructure and private equity meant for sophisticated investors, make up just 3% of the nearly $9 trillion of assets that BlackRock manages. Prospective investors considering an investment in BlackRock TCP Capital Corp. should consider the investment objectives, risks and expenses of the Company carefully before investing. 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. 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. Dan Sondhelm commented for this Insider article about why demand for private credit has created opportunities for top executives to join other firms or become an entrepreneur. Our combination with BlackRock will investors worldwide. In August 2018, Tennenbaum was acquired by BlackRock. 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. To bolster that growth, BlackRock acquired the small private credit firm Tennenbaum Capital Partners, or TCP, in 2018. Since the firms founding in 1999, TCP has invested approximately $9 billion in over 170 portfolio companies through . 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20180801005501/en/, Media:Farrell Denby, 212-810-8034Farrell.Denby@BlackRock.comInvestor The acquisition augments BlackRock's .