BlackRock TCP Capital Corp. (NASDAQ: TCPC) has announced the following leadership changes effective November 6, 2024:
- Rajneesh Vig will step down as Chairman and CEO but will remain on the Board of Directors until January 31, 2025, to ensure a smooth transition. Vig is leaving to explore other opportunities outside of BlackRock.
- Phil Tseng, currently President, will succeed Raj Vig as Chairman and CEO. He will also take on the role of Co-Chief Investment Officer.
- Jason Mehring, previously COO, will become President.
- Patrick Wolfe, a senior investment professional at BlackRock’s US Private Capital platform, will be appointed Chief Operating Officer.
- Dan Worrell, also a senior investment professional with BlackRock’s US Private Capital platform, will join Phil Tseng as Co-Chief Investment Officer.
Rajneesh Vig commented, “Leading BlackRock TCP Capital Corp. has been an honor, and I am confident in Phil Tseng’s leadership as he takes the helm. Our team is well-positioned for continued growth and success.”
Phil Tseng said, “I am grateful for Raj’s guidance and look forward to leading TCPC alongside my experienced colleagues. We are committed to supporting middle-market companies with the capital they need for growth.”
Eric Draut, Lead Independent Director, added, “We appreciate Raj Vig’s leadership and contributions. The Board is confident in Phil Tseng’s ability to guide the company forward.”
About BlackRock TCP Capital Corp.:
BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a specialty finance company focused on direct lending to middle-market companies and small businesses. The firm aims for high total returns through current income and capital appreciation while prioritizing principal protection. TCPC is a publicly traded BDC regulated under the Investment Company Act of 1940 and managed by a wholly owned, indirect subsidiary of BlackRock, Inc. For more information, visit www.tcpcapital.com.
Forward-Looking Statements:
This press release may contain forward-looking statements based on management’s estimates and assumptions. Actual results may differ due to various factors. For more details, please refer to the “Risk Factors” section of the Company’s Form 10-K for the year ended December 31, 2023, and subsequent SEC filings. Forward-looking statements are subject to change without notice.
