The Company's shareholders will benefit from enhanced scale, a broader origination network, and a premium and expanded set of private credit capabilities. 55 East 52nd Street "Russ did more than found a business," Conway said in the September memo seen by Insider. Tennenbaum Capital Partners, LLC (TCP) is a leading multi-strategy alternative investment management firm focused primarily on credit opportunities. The deal, whose financial terms were not divulged, was first announced in April 2018. client assets across multi-strategy credit, leveraged finance, and United Kingdom. Conway previously ran BlackRock's key institutional-client business, where he was responsible for the overall strategy for the firm's relationships with institutional clients like sovereign wealth funds, public and private pension plans, and foundations. "I think it's a little bit of a culture shock to go from a smaller group that's a little more intimate and meritocracy based and that's probably tough on folks.". Patry joined BlackRock in 2017 from Credit Suisse, where he worked for nearly two decades and held roles including head of leveraged finance capital markets. Steenberg remains on PEP's investment committees and is involved in client relationships and priorities for the business. Rajneesh Vig, Managing Director, is a member of Blackrock's Global Credit Platform and President and COO of BlackRock-TCP Capital Corp (NASDAQ: TCPC) Prior to joining BlackRock, Mr. Vig was a Managing Partner at Tennenbaum Capital Partners (TCP), where he was also Chairman of the Investment Committee and a member of the Management Committee. BlackRock bought Merrill Lynch Investment Management in 2006. Find the latest BlackRock TCP Capital Corp. (TCPC) stock quote, history, news and other vital information to help you with your stock trading and investing. Like Steenberg and Seeg, Baranski joined the firm through its 2006 acquisition of Merrill Lynch Investment Management. Its more than companies. He was named global head of BlackRock Alternatives in April 2019 when the alternatives business was restructured in a way executives hoped would improve growth, according to reports at the time. Ms. Williams is the Founder of Hightree Group, an independent advisory business in the institutional investor market that is focused on providing clients with straightforward, cost-effective, and unconflicted advice on governance and policy. Howard Levkowitz, a Managing Partner of TCP and Chairman and CEO of TCP Stephanie Smith has been the chief operating officer of the alternatives business since 2021, when she joined from Goldman Sachs, where she worked for two decades and left as a partner and head of operations for Goldman's consumer and wealth management division. investors worldwide. TCP Direct Lending Fund VIII is a direct lending fund managed by Tennenbaum Capital Partners. has demonstrated strong performance over nearly two decades. He is an investment professional focused on the direct lending and special situations credit strategies. BlackRock's leases on East 52nd Street expire in April. Howard will serve as Chairman of BlackRocks US Private Capital business until the end of the year. He is responsible for overseeing investment strategy, performance, risk management, and other aspects of the business. global scale, industry expertise, and portfolio and risk management Our combination with BlackRock will the firm managed approximately $6.317 trillion in assets on behalf of Business Insider In a joint interview, BlackRock executives said they were confident in the team's growth and performance. The TCP Rainier CLO issue follows its TCP Waterman CLO refinancing and TCP Whitney CLO issuance. Tennenbaum Capital Partners Tennenbaum Capital Partners, LLC (TCP) is a leading multi-strategy alternative investment management firm focused primarily on credit Acquiring Organization: BlackRock BlackRock is an investment company that offers its services to institutions, intermediaries, foundations, and individual investors. solutions for clients, Complementary acquisition assures continuity of TCP leadership, Strengthens BlackRock's credit platform to provide more diverse range of solutions for clients Complementary acquisition assures continuity of TCP leadership, strategy, and products BlackRock Inc. (NYSE: BLK) and Tennenbaum Capital Partners, LLC ("TCP") today announced a definitive agreement under which BlackRock will acquire TCP, a leading manager focused on middle market performing . Formed in 1999, Los Angeles-based . BlackRock is continuing to push aggressively into alternative assets beyond the traditional funds it's best known for. Now, Baranski uses the size and range of what BlackRock offers as part of her team's pitch. TCP manages funds and accounts on behalf of global institutional investors. Court records for this case are available from Stanley Mosk Courthouse. Insider has pinpointed the key people responsible for the alternatives business today. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. TCPs nearly 90-person team has joined including the investments of TCP Capital Corp. (NASDAQ: TCPC), a globally. https://www.businesswire.com/news/home/20210601006057/en/, BlackRock TCP Capital Corp. I look forward to continuing to work with our team to leverage the strength of the BlackRock platform and create value for all of our stakeholders., Freddie Reiss, Independent Director of BlackRock TCP Capital Corp. said, On behalf of our entire Board of Directors, I want to thank Howard Levkowitz for his leadership and vision as well as his many contributions to the company over the years. The acquisition augments BlackRocks position as a leading global credit As Chinas financial markets open up, the risks and rewards are huge for wealth managers, Rootstock Investment Management acquired by Stonehage Fleming, Schroders annual operating profit dips 14% to 723m, Julius Baer launches global AI journey with NEXT initiative, Whos saying what? NEW YORK, April 17, 2018 /PRNewswire/ -- BlackRock Inc. (NYSE: BLK) and Tennenbaum Capital Partners, LLC ('TCP') today announced a definitive agre. For additional information on BlackRock, please Under Steenberg, BlackRock acquired Swiss Re Private Equity Partners, the private equity and infrastructure fund of funds under the insurance giant Swiss Re, in 2012. BlackRock executives said in a memo announcing McKenna's appointment in 2014 that there were still many untapped opportunities in the hedge fund space, like event-driven investing, Bloomberg reported at the time. evolving needs. REUTERS/Brendan McDermid/File Photo. Raj Vig will assume the role of Chief Executive Officer on August 5, 2021, and Chairman on September 30, 2021. Conway joined BlackRock in 2011 from alternatives giant Blackstone, where he was a senior managing director leading global investor relations and business development. business development company. SANTA MONICA, Calif., Aug. 1, 2018 /PRNewswire/ -- BlackRock TCP Capital Corp. (NASDAQ: TCPC) (the "Company") announced today that BlackRock, Inc. (NYSE: BLK) ("BlackRock") has completed the acquisition of Tennenbaum Capital Partners, LLC ("TCP"), advisor to BlackRock TCP Capital Corp. earnings per share. TCP is headquartered in Los Angeles with additional offices 2018, is subject to customary regulatory and closing conditions. John Seeg co-leads Private Equity Partners, BlackRock's private equity business known as PEP, with Lynn Baranski. Prior to Two Sigma, Ms. Williams was Chief Investment Officer and a member of the senior leadership team of Farmers Group, Inc. Before Farmers, Ms. Williams was a senior consultant at Wilshire Consulting, where she created a risk management advisory practice, following several years of experience developing and implementing risk policy and systems for institutional investors. development company, TCP Capital Corp. (NASDAQ:TCPC). NEW YORK--(BUSINESS WIRE)--BlackRock, Inc. (NYSE:BLK) has completed the acquisition of Tennenbaum This asset base includes TCPs approximately $9 billion of to our clients, we provide the investment and technology solutions they BlackRock helps investors build better financial futures. NEW YORK-- ( BUSINESS WIRE )--BlackRock, Inc. (NYSE:BLK) has completed the acquisition of Tennenbaum Capital Partners, LLC ("TCP"), bolstering . NEW YORK--(BUSINESS WIRE)--BlackRock, Inc. (NYSE:BLK) has completed the acquisition of Tennenbaum Meghan Sharp is the global head of Decarbonization Partners, a joint venture that BlackRock and the Singapore state investment fund Temasek established in 2021 and aims to invest in businesses focused on decarbonization. special situations investing with seasoned investment talent and a This transition in leadership follows BlackRocks highly successful 2018 acquisition of Tennenbaum Capital Partners (TCP) that solidified BlackRock as a leading private credit manager. After submitting your request, you will receive an activation email to the requested email address. By providing your email address below, you are providing consent to Blackrock TCP Capital Corp. to send you the requested Investor Email Alert updates. Since its founding in 1999, TCP has invested approximately $22 billion in over 560 companies. Is this a year of opportunity for investments in China? Smith helps oversee and set strategy and direction for the alternatives business, and reports to Edwin Conway. TCPC lends primarily to companies with established market positions, strong regional or national operations, differentiated products and services and sustainable competitive advantages, investing across industries in which it has significant knowledge and expertise. Asset manager giant BlackRock Inc. signed a definitive agreement to acquire Tennenbaum Capital Partners, LLC, in a bid to strengthen its credit platform. In connection with the transaction, the Company's name was changed from TCP Capital Corp. to BlackRock TCP . [email protected], Computershare Investor Services LLC BlackRock announced Tuesday evening that it had agreed to acquire Tennenbaum Capital Partners, a $9 billion asset manager focused on direct lending and special situation credit opportunities. Mr. Donohue was a Managing Director at Tennenbaum Capital Partners (TCP) when it was acquired by BlackRock in 2018. business development company. Dan Sondhelm commented for this Insider article about why demand for private credit has created opportunities for top executives to join other firms or become an entrepreneur. Then, I just suddenly came to the realization that I didn't want to do that anymore; I actually wanted to be a VC," Sharp said in an interview in 2018. TCP complements BlackRocks Global Credit business with seasoned investment talent and a strong long-term track record at a time when clients are increasingly turning to private credit as a higher-yielding alternative to traditional fixed income allocations. LTPC, as it's known, is the majority owner of companies including Authentic Brands the owner of Aeropostale, Juicy Couture, and Reebok and luxury fragrance brand Creed. Forward-looking statements are based on estimates, projections, beliefs and assumptions of management of the Company at the time of such statements and are not guarantees of future performance.

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