BlackRock TCP Capital Corp. Files Q2 2024 10-Q

TL;DR

**TCPC Q2 2024 10-Q filed. Financials look steady.**

AI Summary

BlackRock TCP Capital Corp. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as TCP Capital Corp. and Special Value Continuation Fund, LLC, reported its financial performance. The filing details its business operations and financial condition as of the specified date.

Why It Matters

This filing provides investors with a detailed look at BlackRock TCP Capital Corp.'s financial health and operational performance during the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated in the provided snippet.

Key Players & Entities

• BlackRock TCP Capital Corp. (company) — Filer of the 10-Q
• TCP Capital Corp. (company) — Former name of the filer
• Special Value Continuation Fund, LLC (company) — Previous former name of the filer
• 20240630 (date) — End of the reporting period
• 20240807 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — ) of the Act: Common Stock, par value $0.001 per share TCPC Nasdaq Global Select

Filing Documents

• tcpc-20240630.htm (10-Q) — 13877KB
• tcpc-ex31_1.htm (EX-31.1) — 15KB
• tcpc-ex31_2.htm (EX-31.2) — 15KB
• tcpc-ex32_1.htm (EX-32.1) — 13KB
• 0000950170-24-092283.txt ( ) — 57297KB
• tcpc-20240630.xsd (EX-101.SCH) — 2553KB
• tcpc-20240630_htm.xml (XML) — 12180KB

Financial Statements

Financial Statements Consolidated Statements of Assets and Liabilities as of June 30, 2024 (unaudited) and December 31, 2023 2 Consolidated Statements of Operations for the three and six months ended June 30, 2024 (unaudited) and June 30, 2023 (unaudited) 3 Consolidated Statements of Changes in Net Assets for the three and six months ended June 30, 2024 (unaudited) and June 30, 2023 (unaudited) 4 Consolidated Statements of Cash Flows for the six months ended June 30, 2024 (unaudited) and June 30, 2023 (unaudited) 5 Consolidated Schedule of Investments as of June 30, 2024 (unaudited) and December 31, 2023 7

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 30 Consolidated Schedule of Changes in Investments in Affiliates for the six months ended June 30, 2024 (unaudited) and year ended December 31, 2023 59 Consolidated Schedule of Restricted Securities of Unaffiliated Issuers as of June 30, 2024 (unaudited) and December 31, 2023 63 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 65 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 80 Item 4.

Controls and Procedures

Controls and Procedures 82 Part II. Other Information 83 Item 1.

Legal Proceedings

Legal Proceedings 83 Item 1A.

Risk Factors

Risk Factors 83 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 85 Item 3. Defaults upon Senior Securities 85 Item 4. Mine Safety Disclosures 85 Item 5. Other Information 85 Item 6. Exhibits 87 1 Table of Contents BlackRock TCP Capital Corp. Consolidated Statements o f Assets and Liabilities June 30, 2024 December 31, 2023 (unaudited) Assets Investments, at fair value: Non-controlled, non-affiliated investments (cost of $ 1,881,705,309 and $ 1,389,865,889 , respectively) $ 1,745,584,069 $ 1,317,691,543 Non-controlled, affiliated investments (cost of $ 58,094,344 and $ 63,188,613 , respectively) 54,260,749 65,422,375 Controlled investments (cost of $ 212,223,240 and $ 198,335,511 , respectively) 181,064,083 171,827,192 Total investments (cost of $ 2,152,022,893 and $ 1,651,390,013 , respectively) 1,980,908,901 1,554,941,110 Cash and cash equivalents 194,669,436 112,241,946 Interest, dividends and fees receivable 33,557,117 25,650,684 Deferred debt issuance costs 5,481,033 3,671,727 Due from broker 1,076,306 — Prepaid expenses and other assets 2,988,694 2,266,886 Total assets 2,218,681,487 1,698,772,353 Liabilities Debt (net of deferred issuance costs of $ 8,551,698 and $ 3,355,221 , respectively) 1,320,313,446 985,200,609 Interest and debt related payables 12,452,693 10,407,570 Incentive fees payable 6,815,672 5,347,711 Interest Rate Swap, at fair value 838,386 — Reimbursements due to the Advisor 668,806 844,664 Management fees payable — 5,690,105 Payable for investments purchased — 960,000 Accrued expenses and other liabilities 4,487,560 2,720,148 Total liabilities 1,345,576,563 1,011,170,807 Commitments and contingencies (Note 5) Net assets $ 873,104,924 $ 687,601,546 Composition of net assets applicable to common shareholders Common stock, $ 0.001 par value; 200

View Full Filing

View this 10-Q filing on SEC EDGAR