Earnings Releases·Nov 5, 2026, 8:05 AM ET

BlackRock TCP Capital Corp. — Third Quarter 2026 Earnings Summary

Net investment income fell 51% year-over-year to $13.4 million ($0.16/share) from $27.3 million, while GAAP net decrease in net assets from operations was $66.8 million ($0.80/share) versus a $24.4 million increase in the prior year period.
Significant leverage reduction occurred following a $524 million Continuation Vehicle sale to Pantheon, lowering net leverage to 0.16x from 1.38x and increasing available liquidity to $511.2 million.
The Board is conducting an ongoing strategic review to achieve the best possible outcome for shareholders, while management highlighted a strong foundation driven by reduced leverage and enhanced liquidity.
The Board declared a Q4 dividend of $0.17 per share; the stock repurchase plan was re-approved for up to $50.0 million, though no shares were repurchased during the quarter.
Total investment income declined 44% to $28.5 million ($0.34/share) as net realized and unrealized losses totaled $80.1 million ($0.96/share), driven primarily by the Continuation Vehicle transaction and specific investment dispositions.