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Benzinga

Business

Caroline Ryan

BlackRock Offloads $523 Million in Loans to Rescue Troubled Private Credit Fund

Private,Credit,Loan,Borrow,Money,Lender,Financing,Funds,3d,Illustration

BlackRock TCP Capital Corp. (NASDAQ:TCPC) is selling a $523 million portfolio of private credit investments to shore up its balance sheet, reduce leverage and regain flexibility after mounting pressure on its publicly traded lending vehicle.

TCPC, a business development company managed by an affiliate of BlackRock, is taking aggressive steps to stabilize its portfolio after selling a majority stake in a large pool of loans to private credit secondaries investor Pantheon.

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Investigators determined professor responsible for urine found on a backpack, in trash cans and in water bottles

The Guardian - US

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Two adults in central North Carolina died of West Nile virus. Learn who faces the highest risk, which symptoms matter, and how to prevent bites.

One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

Judge extends White House access to banned media outlets CNN, MS Now and Politico

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‘Deeply unfortunate’: Hasina on Bangladesh skipping BRICS summit

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