BlackRock ESG Term Trust Files Proxy Statement

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 June 6, 2024, regarding its proxy statement. The filing indicates no fee was required for this submission, which is a definitive proxy statement.

Why It Matters

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

Risk Assessment

Risk Level: low — This is a standard regulatory filing (DEFA14A) for a public company, not indicating any unusual risks.

Key Players & Entities

• BlackRock ESG Capital Allocation Term Trust (company) — Registrant
• DEFA14A (document) — Filing type
• June 6, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $55m — es drive meaningful 73.1% gains in NAV1 $55m 5.2% 19.2% Shares repurchased 1 Broadri
• $3.6 billion — ue BlackRock CEFs over time, generating $3.6 billion in gains in 2023 alone while arent deli
• $3.1 billion — le arent delivering paying shareholders $3.1 billion per year via dividends3. We results for
• $1.3 billion — lts for investors have also repurchased $1.3 billion in shares, generating over $200 million
• $200 million — $1.3 billion in shares, generating over $200 million in gains4. Saba claims to be a BlackRoc

Filing Documents

• d836139ddefa14a.htm (DEFA14A) — 15KB
• g836139g01g01.jpg (GRAPHIC) — 386KB
• g836139g02g02.jpg (GRAPHIC) — 389KB
• g836139g03g03.jpg (GRAPHIC) — 332KB
• 0001193125-24-156098.txt ( ) — 1542KB

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. Your Vote Matters BlackRock is fighting for you. Vote now and make your voice heard: Vote today! Defend your fund, Phone FOR the BlackRock nominees Online AGAINST Sabas proposal to terminate save your income. WHITE proxy card investment mgmt. agreement 1. To Elect the Class I and Class II Board Member Nominees. AGAINST ABSTAIN 1.1 Cynthia L. Egan (Class I) 1.2 Lorenzo A. Flores (Class I) 1.3 Stayce D. Harris (Class I) 1.4 R. Glenn Hubbard (Class II) 1.5 W. Carl Kester (Class II) 1.6 Catherine A. Lynch (Class I) 1.7 John M. Perlowski (Class II) FOR ABSTAIN 2. If properly presented at the meeting, a proposal submitted by a hedge fund managed by SabaCapital Management, L.P. to terminate the investment management agreement between the Trustand BlackRock Advisors, LLC. Your Fund significantly Sustainable distributions grew, outperformed peers in 20231 while peers decreased1 1 Distribution enhancements since inception Total shareholder returns (2023) +196.9% ECAT -32.9% ECAT Peer median Peers Actions taken by your Board and BlackRocks open market share management team have narrowed repurchase program enhances the ECATs discount to NAV2 value of your investment Discount narrowing Share repurchases drive meaningful 73.1% gains in NAV1 $55m 5.2% 19.2% Shares repurchased 1 Broadridge; Bloomberg as of 5/24/2024; Peer set includes BCAT, GLV, GLO, BXSY, FT, RCG , RIV, OPP and SPE; PDX included in the peer set starting 1/1/2024; Total shareholder return on price annualized for periods longer than 1 year (assumes dividends are reinvested); Inception as of 9/28/2021 2 12/31/2022 5/24/2024; Morningstar/BlackRock data as of 5/24/2024 Setting the record straight Saba has made numerous unsubstantiated claims about BlackRock, your Fund, and your Boardbut they do not add up. Saba claims that Saba has chosen to use its vast resources to buy large stakes its actions are in in closed-end funds (CEF), engage in costly proxy fights, and the best interest of force actions that provide Saba with a quick profit for CEF shareholders themselves at your expense. Saba claims BlackRock CEFs have delivered consistent long-term value BlackRock CEFs over time, generating $3.6 billion in gains in 2023 alone while arent delivering paying shareholders $3.1 billion per year via dividends3. We results for investors have also repurchased $1.3 billion in shares, generating over $200 million in gains4. Saba claims to be a BlackRock has a 35+ year track record of delivering long-term better CEF manager value for CEF shareholders. than BlackRock At the funds Saba has taken over (BRW, SABA), shareholders are now exposed to riskier strategies, leaving them with a fund that no longer serves their original goals, as well as higher management fees. Sabas CEF track is marked by failure and underperformance5: Total Shareholder Return5 BRW Morningstar US CEF Bank Loans BlackRock Bank Loans Funds Median 13.4% Since takeover (6/4/2021 18.0% 5/24/2024) 30.6% 3 Annualized estimate based on June 2024 dividends for BlackRock closed-end funds 4 BlackRock. Since inception of the funds repurchase programs to 4/30/2024. Date of inception of BCAT, ECAT, BIGZ, BMEZ and BSTZ repurchase programs is 11/19/2021. Date of inception of BFZ, BNY, MHN, MPA and MYN repurchase programs is 11/15/2018 5 Bloomberg as of 5/24/2024; Total shareholder return on price (assumes dividends are reinvested) Vote today. Make your voice heard, and save your fund and your investment. This is no time for taking chances. We need all shareholders to vote on the enclosed WHITE proxy card today to preserve YOUR Fund: 1. To Elect the Class I and Class II Board Member Nominees. AGAINST ABSTAIN 1.1 Cynthia L. Egan (Class I) 1.2 Lorenzo A. Flores (Class I) 1.3 Stayce D. Harris (Class I) 1.4 R. Glenn Hubbard (Class II) 1.5 W. Carl Kester (Class II) 1.6 Catherine A. Lynch (Class I) 1.7 John M. Perlowski (Class II) 2. If properly presented at the meeting, a proposal submitted by ge fund managed FOR ABSTAINby Saba Capital Management, L.P. to terminate the investment management agreementb

View Full Filing

View this DEFA14A filing on SEC EDGAR