BlackRock ESG Term Trust Files Proxy Statement

TL;DR

BlackRock ESG Term Trust filed its proxy statement. No fee required.

AI Summary

BlackRock ESG Capital Allocation Term Trust filed a DEFA14A on April 10, 2024, detailing its proxy statement. The filing indicates no fee was required for this submission. The company was formerly known as BlackRock ESG Capital Allocation Trust before a name change on May 27, 2021.

Why It Matters

This filing is a routine proxy statement, providing shareholders with information about the company's governance and upcoming decisions, which is crucial for informed voting.

Risk Assessment

Risk Level: low — This is a standard regulatory filing (DEFA14A) for a publicly traded company, not indicating any immediate financial distress or unusual events.

Key Players & Entities

• BlackRock ESG Capital Allocation Term Trust (company) — Registrant
• BlackRock ESG Capital Allocation Trust (company) — Former company name
• 20210527 (date) — Date of former company name change
• 20240410 (date) — Filing date

FAQ

Key Financial Figures

• $55 million — g Portfolio Manager of the Year in 2023 $55 million in share repurchases at a discount, 100

Filing Documents

• d817563ddefa14a.htm (DEFA14A) — 13KB
• g817563g01g01.jpg (GRAPHIC) — 361KB
• g817563g02g02.jpg (GRAPHIC) — 243KB
• 0001193125-24-092016.txt ( ) — 846KB

From the Filing

ESG CAPITAL ALLOCATION TERM TRUST BLACKROCK ESG CAPITAL ALLOCATION TERM TRUST UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 BLACKROCK ESG CAPITAL ALLOCATION TERM TRUST (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT) Dear Shareholder: I am writing with important information about your upcoming 2024 Annual Shareholder Meeting for BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT) (the Fund). In the next few weeks, you will receive ECATs proxy statement and WHITE proxy card. I urge you to review the proposals and protect your long-term investment by promptly voting your shares on the WHITE proxy card when you receive it. Your fund is under attack This year, your voice matters more than ever. A well-known activist hedge fund, Saba Capital Management L.P. (Saba), is once again attacking your long-term investment and threatening actions that we believe would harm the Fund and all shareholders by attempting to: Take control of the Funds board with a slate of inexperienced, hand-picked candidates Fire BlackRock as investment advisor to the Fund This would deprive shareholders of BlackRocks and the Boards expertise and potentially imperil the Funds ability to generate your consistent income and returns. In addition, if Saba were to succeed, it may seek to appoint itself as investment advisor and/or fundamentally disrupt ECATs investment objectives and strategies, all to enrich itself. Your experienced Board and award-winning management team have consistently worked to meet ECATs investment objectives to provide total return and income through a combination of current income, current gains and long-term capital appreciation. Under their stewardship, the Fund has delivered growth and stable monthly distributions. Your Board and management team are committed to protecting and advancing the interests of all shareholders, not just a few. ECAT delivers for all shareholders 32% shareholder return in 2023, Independent, experienced and proven Board outperforming 96% of all closed-end funds 50% increase in monthly distribution rate Rick Rieder, ECATs lead portfolio manager, named since 2023 Morningstars Outstanding Portfolio Manager of the Year in 2023 $55 million in share repurchases at a discount, 100% liquidity at net asset value via term structure enhancing value for shareholders We ask all shareholders to support their long-term investment in the fund. As always, we will continue to prioritize your best interests and help you meet your financial goals. Thank you for your continued loyalty and support. Sincerely, John M. Perlowski President and Chief Executive Officer 1 Additional Information The Funds definitive proxy statement for the 2024 Annual Meeting of Shareholders in connection with solicitation of proxies from Fund shareholders has yet to be filed with the U.S. Securities and Exchange Commission (the SEC). After the definitive proxy BEFORE MAKING ANY VOTING DECISION, SHAREHOLDERS ARE URGED TO READ THE NOTICE OF ANNUAL MEETING OF SHAREHOLDERS, DEFINITIVE PROXY STATEMENT, WHITE PROXY CARD AND ANY OTHER RELEVANT DOCUMENTS, WHEN THEY ARE AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE FUND AND THE UPCOMING ANNUAL MEETING OF SHAREHOLDERS. Shareholders can obtain additional copies of the notice of annual meeting, the definitive proxy statement and other documents, when they are filed by the Fund with the SEC, by directing a request to the Funds proxy solicitor by calling the toll-free number provided in the definitive proxy statement. Copies are also expected to be available at no charge at the website identified in the definitive proxy statement. Additional copies of the proxy materials will be delivered promptly upon request. Free copies of these materials can also be found on the SECs website at http://www.sec.gov. Pursuant to SEC proxy rules, the Funds Trustees, nominees for Trustee and executive officers are participants in connection with the 2024 Annual Meeting of Shareholders. Certain regular employees and officers of the Funds investment manager, administrator, or any of their affiliates may become participants if any such persons solicit proxies. Shareholders may obtain information regarding the na

View Full Filing

View this DEFA14A filing on SEC EDGAR