BlackRock ESG Term Trust Files Proxy Statement

Ticker: ECAT · Form: DEFA14A · Filed: May 22, 2024 · CIK: 1864843

Sentiment: neutral

Topics: proxy-statement, esg, filing

TL;DR

BlackRock ESG Term Trust filed its proxy statement, no fee needed.

AI Summary

BlackRock ESG Capital Allocation Term Trust filed a DEFA14A on May 22, 2024, concerning its proxy statement. The filing indicates no fee was required for this submission, which is a definitive additional material.

Why It Matters

This filing provides shareholders with important information regarding the BlackRock ESG Capital Allocation Term Trust, enabling them to make informed decisions about their investments.

Risk Assessment

Risk Level: low — This filing is a routine proxy statement and does not contain information that inherently increases investment risk.

Key Players & Entities

FAQ

What type of filing is this?

This is a DEFA14A filing, specifically 'Definitive Additional Materials'.

Who is the registrant?

The registrant is BlackRock ESG Capital Allocation Term Trust.

When was this filing submitted?

The filing was submitted on May 22, 2024.

Was there a fee required for this filing?

No fee was required for this filing.

What is the Central Index Key for the registrant?

The Central Index Key for BlackRock ESG Capital Allocation Term Trust is 0001864843.

Filing Stats: 4,452 words · 18 min read · ~15 pages · Grade level 12.8 · Accepted 2024-05-22 17:24:40

Key Financial Figures

Filing Documents

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. On May 22, 2024, representatives of the funds listed below (collectively, the Funds) gave a presentation to representatives of Institutional Shareholder Services Inc. regarding the Funds. A copy of this presentation is filed herewith. BlackRock California Municipal Income Trust BlackRock New York Municipal Income Trust BlackRock MuniHoldings New York Quality Fund, Inc. BlackRock MuniYield Pennsylvania Quality Fund BlackRock MuniYield New York Quality Fund, Inc. BlackRock Innovation and Growth Term Trust BlackRock Health Sciences Term Trust BlackRock Science and Technology Term Trust BlackRock Capital Allocation Term Trust BlackRock ESG Capital Allocation Term Trust BlackRock Closed-End Funds Focused on the interests of all shareholders Contested funds: BlackRock California Municipal Income Trust (NYSE: BFZ) BlackRock New York Municipal Income Trust (NYSE: BNY) BlackRock MuniHoldings New York Quality Fund, Inc. (NYSE: MHN) BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA) BlackRock MuniYield New York Quality Fund, Inc. (NYSE: MYN) BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) BlackRock Health Sciences Term Trust (NYSE: BMEZ) BlackRock Science and Technology Term Trust (NYSE: BSTZ) BlackRock Capital Allocation Term Trust (NYSE: BCAT) BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT) Executive Summary Since 1988, BlackRock has been a leader in closed-end funds (CEFs) through BlackRock1 a trusted continuous innovation and a focus on clients evolving needs fiduciary for investors BlackRocks CEFs are structured to meet the financial goals of all shareholders, offering a unique value proposition The Funds Boards protect all shareholders, with a focus on their need for The Funds2 Boards and steady income, and take proactive actions to mitigate discounts management teams o We manage numerous funds, the majority of which are performing well and create value for all many trade at a premium; however, some trade at a discount shareholders BlackRock provides substantial benefits in terms of fair treatment, distribution and risk management / investment expertise from 19,000+ professionals The Funds Boards in aggregate have the extensive set of skills needed to Rigorous Board oversight effectively oversee CEFs and are open to engaging with all shareholders ensures all shareholders are protected The Funds Boards regularly meet with the CEFs portfolio management teams to assess performance and fund positioning Inherent conflict between NY-based hedge fund Saba Capital Management, LPs (Saba) extensive Sabas self-serving history of destructive actions has harmed CEF shareholders interests and those of Sabas tactics are self-serving and not in the best interests of all shareholders other shareholders Sabas nominees have few relevant skills to provide oversight and add no value Sabas nominees are to the current Boards unqualified and conflicted Their legacy and ongoing relationships with Saba raise serious questions about their independence 1 Where referenced in this presentation, BlackRock refers to the Funds Advisor, BlackRock Advisors, LLC; 2 Where referenced in this presentation, the Funds refers to the 10 contested BlackRock-advised closed-end funds (BFZ, BNY, MHN, MPA, MYN, BIGZ, BMEZ, BSTZ, BCAT, and ECAT) 2 BlackRock a trusted fiduciary for investors Overview of BlackRock CEFs: Designed for CEF shareholders BlackRock CEFs are structured to meet the financial goals of CEF shareholders, consistent with the investment objective of each fund. Since 1988, BlackRock has established a leadership position in CEFs through continuous innovation and a focus on the evolving needs of CEF shareholders ? Focus on distributions: Consistent and predictable distributions over time and across market cycles ? Diversification benefits: Broad investment opportunities typically unavailable to smaller holders, offered with no performance fee ? Closed structure: Stable capital allowing greater investment flexibility, enables PMs to stay invested an

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