FILED BY BLACKROCK TCP CAPITAL CORP.
PURSUANT TO RULE 425 UNDER THE SECURITIES ACT OF 1933
AND DEEMED FILED PURSUANT TO RULE 14A-12
UNDER THE SECURITIES EXCHANGE ACT OF 1934

SUBJECT COMPANY: BLACKROCK TCP CAPITAL CORP.
 FILE NO. OF RELATED REGISTRATION STATEMENT: 814-00899

 BlackRock TCP Capital Corp. Investor Presentation  December 31, 2023 
 

 Prospective investors considering an investment in BlackRock TCP Capital Corp. (“we”, “us”, “our”, “TCPC” or the “Company”) should consider the investment objectives, risks and expenses of the Company carefully before investing. This information and other information about the Company are available in the Company's filings with the Securities and Exchange Commission ("SEC"). Copies are available on the SEC's website at www.sec.gov and the Company's website at www.tcpcapital.com. Prospective investors should read these materials carefully before investing. This presentation (the “Presentation”) is solely for information and discussion purposes and must not be relied upon for any other purpose. This Presentation includes the slides that follow, the oral presentation of the slides by members of TCPC, BlackRock or any person on their behalf, the question-and-answer session that follows that oral presentation, copies of this Presentation and any materials distributed at, or in connection with, this Presentation. By participating in the meeting, or by reading the Presentation slides, you will be deemed to have (i) agreed to the following limitations and notifications and made the following undertakings and (ii) acknowledged that you understand the legal and regulatory sanctions attached to the misuse, disclosure or improper circulation of this Presentation.  Forward-Looking Statements  Some of the statements in this Presentation constitute forward-looking statements because they relate to future events, future performance or financial condition or the merger of BCIC with and into a subsidiary of the Company (the “Merger”). The forward-looking statements may include statements as to: future operating results of TCPC, BCIC or, following the Merger, the combined company and distribution projections; business prospects of TCPC, BCIC or, following the Merger, the combined company and the prospects of each of their respective portfolio companies; and the impact of the investments that TCPC, BCIC or, following the Merger, the combined company expect to make. In addition, words such as “anticipate,” “believe,” “expect,” “seek,” “plan,” “should,” “estimate,” “project” and “intend” indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this Presentation involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with (i) the timing or likelihood of the Merger closing; (ii) the expected synergies and savings associated with the Merger; (iii) the ability to realize the anticipated benefits of the Merger, including the expected accretion to net investment income and the elimination or reduction of certain expenses and costs due to the Merger; (iv) the percentage of BCIC and TCPC stockholders voting in favor of the proposals submitted for their approval; (v) the possibility that competing offers or acquisition proposals will be made; (vi) the possibility that any or all of the various conditions to the consummation of the Merger may not be satisfied or waived; (vii) risks related to diverting management’s attention from ongoing business operations; (viii) the risk that stockholder litigation in connection with the Merger may result in significant costs of defense and liability; (ix) changes in the economy, financial markets and political environment, including the impacts of inflation and rising interest rates; (x) risks associated with possible disruption in the operations of BCIC and TCPC or the economy generally due to terrorism, war or other geopolitical conflict (including the current conflict between Russia and Ukraine), natural disasters or public health crises and epidemics; (xi) future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); (xii) conditions in BCIC’s and TCPC’s operating areas, particularly with respect to business development companies or regulated investment companies; and (xiii) other considerations that may be disclosed from time to time in BCIC’s and TCPC’s publicly disseminated documents and filings. TCPC has based the forward-looking statements included in this Presentation on information available to it on the date of this Presentation, and TCPC assumes no obligation to update any such forward-looking statements. Although TCPC undertakes no obligation to revise or update any forward- looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that it may make directly to you or through reports that TCPC in the future may file with the Securities and Exchange Commission, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.  2  Forward-Looking Statements & Legal Disclaimers 
 

 No Offer or Solicitation  This Presentation is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and this Presentation is not, and under no circumstances is it to be construed as, an offer to sell or a solicitation of an offer to purchase any securities in BCIC, TCPC or in any fund or other investment vehicle managed by BlackRock or any of its affiliates.  Additional Information and Where to Find It  This Presentation relates to the Merger, along with related proposals for which stockholder approval is being sought (collectively, the “Proposals”). In connection with the Merger, each of BCIC and TCPC have filed with the SEC a registration statement on Form N-14 (the “Registration Statement”), which includes a joint proxy statement of BCIC and TCPC and prospectus of TCPC (the “Joint Proxy Statement”). The Joint Proxy Statement and Registration Statement contain important information about BCIC, TCPC, the Merger and related matters. This Presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. STOCKHOLDERS OF BCIC AND TCPC ARE URGED TO READ THE JOINT PROXY STATEMENT AND REGISTRATION STATEMENT AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT BCIC, TCPC, THE MERGER AND RELATED MATTERS.  Investors and security holders are able to obtain the documents filed with the SEC free of charge at the SEC’s website, http://www.sec.gov and, for documents filed by BCIC, from BCIC’s website at http://www.blackrockbkcc.com, and, for documents filed by TCPC, from TCPC’s website at http://www.tcpcapital.com.  Participants in the Solicitation  BCIC and TCPC and their respective directors, certain of their respective executive officers and certain other members of management and employees and officers of BlackRock Capital Investment Advisors, LLC and Tennenbaum Capital Partners, LLC, as applicable, and their respective affiliates may be deemed to be participants in the solicitation of proxies from the stockholders of BCIC and TCPC in connection with the Proposals and the Merger. Information about the directors and executive officers of BCIC and TCPC is set forth in the Joint Proxy Statement. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the BCIC and TCPC stockholders in connection with the Merger is contained in the Joint Proxy Statement and other relevant materials filed with the SEC. These documents may be obtained free of charge from the sources indicated above.  3  Forward-Looking Statements & Legal Disclaimers 
 

 Fourth Quarter and Full Year 2023 Financial Highlights and Portfolio Overview  4  Continued Strong Financial Performance  FY2023 Net investment income of $1.84 per share increased 20% over FY2022, primarily as a result of higher base rates and marginally wider spreads in 2023  Declared a first quarter dividend of $0.34 per share, payable on March 29 to shareholders of record as of the  close of business on March 14  Continuous coverage of the dividend with net investment income each quarter as a public company; dividend coverage ratio of 129% in the fourth quarter of 2023  Diversified Portfolio with an Emphasis on Less-Cyclical Businesses  Total portfolio fair value of $1.6 billion diversified across 142 portfolio companies  89% invested in senior secured debt; 78% of the total portfolio is 1st lien  Weighted average yield of the debt portfolio is 14.1%(1)  FY 2023 total acquisitions of $226.1 million, dispositions of $218.7 million  Flexible Capital With  Available Liquidity  Diverse leverage program totaling $1.2 billion, with well laddered maturities  58% of outstanding leverage as of December 31 is unsecured  $247 million of available credit facility capacity  Net regulatory leverage ratio of 1.07x, well within our 2:1 regulatory leverage limitation  Proposed Merger with BlackRock Capital Investment Corp. (BCIC)  On September 6, announced that TCPC and BCIC, an affiliated BDC, have entered into a definitive agreement pursuant to which BCIC will merge with and into a wholly owned, indirect subsidiary of TCPC, subject to shareholder approval and customary closing conditions  The proposed merger is expected to result in enhanced scale, including a larger asset base which may lead to better and more efficient access to capital, and combined operating efficiencies  Same investment team will continue to manage the combined Company’s portfolio and investments  As of December 31, 2023  (1) Weighted average annual effective yield includes amortization of deferred debt origination and end-of-term fees and accretion of original issue discount, but excludes market discount, any prepayment and make-whole fee income, and any debt investments that are distressed or on non-accrual status. Weighted average effective yield on the total portfolio (including debt investments that are distressed or on non- accrual status and equity investments) was 13.3% as of 12/31/2023.  Past performance does not guarantee future returns. 
 

 Middle Market Lending – An Enduring Opportunity  (2) Source: S&P, Fitch U.S. Leveraged Loan Default Insights  5  Market Size  ~200,000 U.S. Middle Market businesses representing one-third of private sector GDP. (1)  Strong Credit Performance  Middle Market loans have historically experienced lower loss rates than broadly syndicated loans (2)  Middle Market lending is an increasingly attractive alternative to the broadly syndicated loan  market for companies seeking capital for business expansion or acquisition  Ability for borrowers to obtain customized solutions  Ease, speed and certainty of execution  Increase in dedicated capital to the sector  Ability to fill void created by banks’ pullback in lending  Value in establishing long-term relationships between borrowers, lenders and private equity sponsors  (1) Source: National Center for The Middle Market as of December 31, 2023.  Continued Growth  Middle Market companies on average posted 12.4% revenue growth in 2023, with 55% of businesses experiencing double digit growth compared to 2022.(1) 
 

 Internet Software and Services 14.7%  Past performance does not guarantee future returns.  6  Diversified Consumer Services 10.7%  Software 9.1%  Diversified Telecommunication Services 0.9%  Machinery 0.9%  Consumer Finance 1.2%  Insurance 1.3%  Pharmaceuticals 1.3%  Speciality Retail 1.6% Paper and Forest Products 1.9%  Technology Hardware, Storage & Peripherals 2.0%  Construction & Engineering 2.1% Textiles, Apparel, and Luxury Goods 2.5%  Road & Rail 2.6% Healthcare Providers & Services 2.6%  Automobiles 2.9%  Media 2.9%  IT Services 2.9%  Capital Markets 3.1% Hotels, Restaurants and Leisure 3.6%  Healthcare Technology 4.7%  Professional Services 5.6%  Diversified Financial Services 12.5%  Other 6.4%  Diversified Portfolio: Emphasis on Less-Cyclical Businesses  (1) Industry classification system generally categorizes portfolio companies based on the primary end market served, rather than the product or service directed to those end markets.  Industry Diversification(1)  Substantially all investments subject to independent 3rd party valuation process every quarter  Emphasis on Less-Cyclical Businesses  Robust downside analysis performed at underwriting, with an emphasis on companies and industries that can withstand periods of economic stress  Portfolio emphasis on less-cyclical companies with strong covenants; investments in cyclical companies typically structured with significant collateral protections  Each portfolio company investment subject to rigorous quarterly review process to identify and address new risks if they arise, including future capital needs or potential covenant breaches  As of December 31, 2023 
 

 Diversified Portfolio: Conservatively Positioned  Weighted average annual effective yield includes amortization of deferred debt origination and end-of-term fees and accretion of original issue discount, but excludes market discount, any prepayment and make-whole fee income, and any debt investments that are distressed or on non-accrual status. Weighted average effective yield on the total portfolio (including debt investments that are distressed or on non-accrual status and equity investments) was 13.3% as of 12/31/2023.  Excludes non-income producing equity investments  Past performance does not guarantee future returns.  $1.6 billion portfolio fair value  89% of portfolio  is senior secured debt  More than 90% of our portfolio companies contribute  <2% to recurring income  14.1% weighted average effective yield on debt portfolio(1)  Diversified Income Contribution  103  7  18  6  5  <1% 1% - 2% 2% - 3%  % contribution to recurring income  +3%  # of portfolio companies contributing (2)  As of December 31, 2023 
 

 Strategically Positioned Balance Sheet  Predominantly First Lien, Floating Rate Asset Portfolio  Diverse Capital Structure(3)  SBA  Debentures 9%  8  Credit Facilities 16%  Unsecured Debt 34%  Equity 41%  Fixed / Floating(2)  Floating Rate  96%  Fixed Rate  4%  Seniority(1)  First Lien  78%  Second Lien  11%  Junior  0%  Equity  11%  As a percent of total investments at fair value as of December 31, 2023.  As a percent of debt investments at fair value as of December 31, 2023.  SBA Debentures structured as long-term facilities and not subject to regulatory minimum asset coverage.  As of December 31, 2023 
 

 Well-Covered Dividend  Consistent coverage of the regular dividend every quarter since IPO in 2012  Net investment income of $0.44 per share in Q4 2023  Out-earned regular quarterly dividend of $0.34 per share paid on December 31, 2023  Incentive compensation was waived from the date of the IPO to January 1, 2013.  Dividends and net investment income in 2012 reflect the 3 quarters post-IPO (Q2, Q3 and Q4).  There is no guarantee that quarterly distributions will continue to be made at historical levels.  9  2012 Q3(1,2)  2013  2014  2015  2016  2017  2018  2019  2020  2021  2022  2023  Q1  Q2  Q3  Q4  Per Share  Regular dividend  $1.04  $1.43  $1.44  $1.44  $1.44  $1.44  $1.44  $1.44  $1.32  $1.20  $1.22  $0.32  $0.34  $0.34  $0.34  Net investment income  $1.42  $1.65  $1.55  $1.64  $1.51  $1.59  $1.59  $1.61  $1.44  $1.26  $1.53  $0.44  $0.48  $0.49  $0.44  Regular  dividend coverage  137%  115%  108%  114%  105%  110%  110%  112%  109%  105%  125%  137%  141%  144%  129%  Special dividend  $0.05  $0.10  $0.10  $0.05  $0.10  $0.25  Declared Q1 2024 dividend of $0.34 per share Payable on March 29, 2024, to shareholders of record as of March 14, 2024 
 

 Competitive Advantages of BlackRock  Global Private Debt Expertise  $84 billion(1) in AUM across global  private debt  211(2) Global Private Debt investment professionals  Information Edge  Broad access to management teams  Expertise across asset classes, investment styles, products and industries  One Stop Shop  Full range of strategies and risk profiles  Global presence: North America, Europe and Asia  Dedicated Team with Experience  Cycle-tested team organized along 19 industry verticals with an emphasis on less competitive situations  Over two decades managing global credit strategies  Differentiated Sourcing  One of the largest credit counterparties globally  Strong market access and corporate  relationships  Strong Risk Management  Firm-wide culture of risk management  Dedicated risk professionals with  independent reporting lines  As of September 30, 2023. Please note that AUM is inclusive of internal BlackRock allocations where applicable. The AUM figures are presented in US dollars. AUM balances for funds denominated in currencies other than US dollars have been converted to US dollars at the rate prevailing at the reporting date.  As of December 31, 2023.  10  BlackRock’s investment platform creates substantial scale and scope that provides insight, access, and  expertise in sourcing, underwriting and managing differentiated investments 
 

 Well Positioned to Manage Through the Cycle  Source: BlackRock. As of December 31, 2023  Late Cycle  11  Early Cycle  Downturn  Mid Cycle  Tight Financing  Easy Financing  Excess Capacity  Excess Demand  Direct lending strategy attributes are well-positioned to withstand a downturn  Senior secured, top of the capital structure  Significant cushion below investment (generally, 40-60%)  Financial and maintenance covenants  Diverse portfolio by issuer, industry, and sector  Investment segment governed by consistent and predictable bankruptcy laws  Cycle-tested team with proven track record  Depth of workout and restructuring expertise  Repeat borrowers are an important source of originations, accounting for nearly half of dollars deployed over the last 12 months 
 

 Net Asset Value (“NAV”) Bridge – Fourth Quarter 2023  Past performance does not guarantee future returns.  Quarter over quarter NAV decreased, primarily driven by net unrealized mark to market on the portfolio  12 
 

 $20.00  $15.00  $10.00  $5.00  $0.00  $25.00  $30.00  $35.00  Book Value per Share Cumulative Dividends Paid per Share (Post IPO)  Annualized return on assets calculated as total investment income (gross of expenses) plus realized and unrealized gains and losses divided by average total investments between April 6, 2012 and December 31, 2023.  Cash return calculated as total distributions from April 6, 2012 through December 31, 2023, divided by opening NAV of $14.76 on April 6, 2012.  Total return calculated as the change in net asset value plus dividends distributed between April 6, 2012 and December 31, 2023.  Past performance does not guarantee future returns.  Strong Track Record  Book Value per Share and Dividends Paid  13  As of 12/31/2023:  $28.74  Annualized return on invested assets(1): 10.1% Annualized cash return(2): 9.7%  Annualized total return on equity(3): 8.1% 
 

 Diversified Sources of Funding  14  Operating Facility has a $100.0 million accordion which allows for expansion of the facility to up to $400.0 million subject to consent from the lender and other customary conditions.  As of December 31, 2023, $155.0 million of the outstanding amount was subject to a SOFR credit adjustment 0.11%. $8.2 million of the outstanding amount bore interest at a rate of EURIBOR + 2.00.  Funding Facility II has a $50.0 million accordion which allows for expansion of the facility to up to $250.0 million subject to consent from the lender and other customary conditions.  Subject to certain funding requirements and a SOFR credit adjustment of 0.15%.  Weighted average interest rate, excluding fees of 0.35% or 0.36%.  $250 million par. Carrying value shown.  $325 million par. Carrying value shown.  Combined weighted-average interest rate on amounts outstanding as of December 31, 2023.  As of December 31, 2023, $ in millions  Source  Capacity  Drawn Amount  Available  Pricing  Maturity  Operating Facility  $ 300.0  (1)  $ 163.2  $ 136.8  S + 2.00%  (2)  May-26  Funding Facility II  200.0  (3)  100.0  100.0  S + 2.05%  (4)  2027  SBA Debentures  160.0  150.0  10.0  2.52%  (5)  2024-2031  2024 Notes  249.6  (6)  249.6  -  3.900%  Aug-24  2026 Notes  325.8  (7)  325.8  -  2.850%  Feb-26  Total leverage  $ 1,235.4  $ 988.6  $ 246.8  4.29%  (8)  Cash  112.2  Net settlements  (1.0)  Unamortized debt issuance costs  (3.4)  Net  $ 985.2  $ 358.0  TCPC is investment grade rated by Fitch and Moody’s 
 

 Investor Friendly Advisory Fee Structure  15  Subject to the closing of the merger  Source: KBW BDC Research as of August 25, 2023. Represents typical range of fee structures for publicly traded, externally managed BDCs with a market capitalization of more than  $200 million. Ranges exclude certain outliers.  BlackRock TCP Capital Corp.  Typical Externally Managed BDC(2)  Base Management Fee  1.5% on assets up to 200% of the net asset value of TCPC ; 1.0% on assets that exceed 200% of the net asset value of TCPC. Based on gross assets (less cash and cash equivalents)  Proposed(1): 1.25% on assets up to 200% of the net asset value of TCPC ; 1.0% on assets that exceed 200% of the net asset value of TCPC. Based on gross assets (less cash and cash equivalents)  1.00% - 1.75% on gross assets (up to 1.0x debt to equity; 1.0% above 1.0x debt to equity for those BDCs that have adopted a reduced minimum asset coverage ratio)  Incentive Fee Hurdle  7% annualized total return on NAV, with  cumulative lookback  6-8% annualized NII return on NAV, with either no lookback or rolling 3-year lookback  Incentive Compensation  Income: 17.5% subject to a cumulative, annualized 7% total return hurdle calculated quarterly  Capital Gains: 17.5% of cumulative net realized gains less net unrealized depreciation, subject to a cumulative, annualized 7% hurdle calculated quarterly  Income: 17.5-20% (based on NII only, excluding realized and unrealized losses) calculated quarterly with either no lookback or rolling 3-year lookback  Capital Gains: 17.5-20% of cumulative net realized gains less net unrealized depreciation 
 

 Quarterly Operating Results  2023  2022  Unaudited ($ in thousands, except per share amounts)  Q4  Q3  Q2  Q1  Q4  Investment income  Interest income  $ 49,843  $53,254  $ 53,031  $ 48,992  $ 45,139  Dividend income  1,005  936  909  937  1,243  Other income  1  21  21  379  307  Total investment income  50,849  54,211  53,961  50,308  46,688  Expenses  Interest and other debt expenses  11,840  12,134  12,288  11,549  10,475  Management fees  5,954  6,093  6,096  5,878  6,357  Incentive fee  5,348  6,010  5,855  5,390  4,883  Administrative expenses  440  358  358  376  437  Legal fees, professional fees and due diligence expenses  654  746  319  454  401  Other expenses  1,155  537  1,440  1,253  1,113  Total expenses  25,391  25,878  26,356  24,900  23,666  Net investment income before taxes  25,458  28,333  27,605  25,408  23,023  Excise tax expense  199  13  -  35  -  Net investment income  25,259  28,320  27,605  25,373  23,023  Net realized and unrealized gain (loss)  (38,572)  (15,497)  (11,354)  (2,659)  (70,809)  Net increase (decrease) in net assets  $ (13,313)  $ 12,823  $ 16,251  $ 22,714  $ (47,785)  Earnings (loss) per share  ($0.23)  $0.22  $0.28  $0.39  ($0.83)  Net investment income per share(1)  $0.44  $0.49  $0.48  $0.44  $0.40  Regular dividend per share  $0.34  $0.34  $0.34  $0.32  $0.32  Special dividend per share  $0.25  $0.10  $0.00  $0.00  $0.05  Weighted average common shares outstanding  57,767,264  57,767,264  57,767,264  57,767,264  57,767,264  Ending common shares outstanding  57,767,264  57,767,264  57,767,264  57,767,264  57,767,264  (1) After incentive compensation  16 
 

 Financial Highlights  17  2023  2022  Unaudited  Unaudited  ($ per share)  Q4  Q3  Q2  Q1  Q4  Net investment income  0.44  0.49  0.48  0.44  0.40  Net realized & unrealized gains (losses)  (0.67)  (0.27)  (0.20)  (0.05)  (1.22)  Net increase (decrease) in net assets from operations  (0.23)  0.22  0.28  0.39  (0.83)  Dividend paid  (0.59)  (0.44)  (0.34)  (0.32)  (0.37)  Net asset value  11.90  12.72  12.94  13.00  12.93  2023  2022  Q4  Q3  Q2  Q1  Q4  Total fair value of investments (000s)  $1,554,941  $1,593,321  $1,640,558  $1,665,730  $1,609,587  Number of portfolio companies  142  143  143  143  136  Average investment size (000s)  $10,950  $11,142  $11,472  $11,648  $11,835  Debt/equity ratio(1)  1.22x  1.12x  1.17x  1.17x  1.07x  Debt/equity ratio, net of cash(1)(2)  1.07x  1.00x  1.01x  1.04x  0.96x  Excludes SBIC debt, which is exempt from regulatory asset coverage requirements  Net of trades pending settlement 
 

 Portfolio Highlights  18  2023  2022  Asset Mix of the Investment Portfolio  (in thousands)  Q4  Q3  Q2  Q1  Q4  Senior secured debt  $ 1,389,190  $ 1,413,070  $ 1,450,244  $ 1,470,731  $ 1,420,427  Junior debt  -  -  -  -  -  Equity(1)  165,751  180,251  190,314  194,999  189,159  Total investments  $ 1,554,941  1,593,321  $ 1,640,558  $ 1,665,730  $ 1,609,587  2023  2022  Portfolio Activity  (in thousands)  Q4  Q3  Q2  Q1  Q4  Gross acquisitions  $40,587  $ 92,393  $ 17,092  $ 76,022  $74,932  Exits (includes repayments)  $42,228  125,593  31,559  19,323  $75,422  Net acquisitions (exits)  $ (1,641)  $ (33,200)  $ (14,467)  $ 56,698  $ (490)  (1) Includes equity interests in diversified portfolios of debt and lease assets 
 

 Quarterly Balance Sheets  19  2023  2022  (in thousands, except per share data)  Unaudited  Audited  ASSETS  Q4  Q3  Q2  Q1  Q4  Investments at fair value  $1,554,941  $ 1,593,321  $ 1,640,558  $ 1,665,730  $1,609,588  Cash and cash equivalents  112,242  91,653  123,129  98,789  82,435  Accrued interest income  25,651  26,660  24,068  22,389  20,904  Receivable for investments sold  -  -  -  -  -  Other assets  5,939  7,531  4,984  5,891  6,423  Total assets  $ 1,698,773  1,719,165  $ 1,792,739  $ 1,792,799  $ 1,719,350  LIABILITIES  Debt, net of unamortized issuance costs  $985,201  $ 970,374  $ 1,021,132  $ 1,021,620  $944,006  Payable for investments purchased  960  3,777  9,938  4,042  1,937  Interest payable  10,408  6,010  5,855  5,390  9,261  Incentive compensation payable  5,348  -  -  -  4,884  Other liabilities  9,254  4007  8,222  9,765  12,508  Total liabilities  1,011,171  984,168  1,045,147  1,041,817  972,596  NET ASSETS  $ 687,602  $ 734,997  $ 747,592  $ 750,982  $ 746,754  NET ASSETS PER SHARE  $11.90  $12.72  $12.94  $13.00  $12.93 
 

 20  Corporate Information  NASDAQ: TCPC  JMP Securities  Keefe, Bruyette & Woods  Ladenburg Thalmann  Oppenheimer  Raymond James  Wells Fargo  Computershare Inc.  (866) 333-6433 (from U.S.)  (201) 680-6578 (from outside U.S.) wwww.computershare.com/investor  2951 28th Street  Suite 1000  Santa Monica, CA 90405  Katie McGlynn  (310) 566-1094  investor.relations@tcpcapital.com www.tcpcapital.com  Securities Listing  Research Coverage  Transfer Agent  Corporate Headquarters  Investor Relations  ALTM1123U/S-3207383-21/21 
 


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