BlackRock TCP Capital Corp. - Closed End Fund (TCPC)

Competitors to BlackRock TCP Capital Corp. - Closed End Fund (TCPC)

Ares Capital Corporation 

Ares Capital Corporation is one of the largest business development companies (BDCs) in the United States, much like BlackRock TCP Capital Corp. Both companies focus on investing in middle-market companies, offering similar financial products and services, including debt and equity investments. Ares Capital distinguishes itself through its larger asset base and diversified portfolio, providing it with advantages in pricing power and deal flow, giving it a competitive edge over TCPC.

Eagle Point Credit Company Inc. 

Eagle Point Credit Company Inc. competes within the closed-end fund market with a focus on credit investments, including pooled investment vehicles and CLOs (Collateralized Loan Obligations). While both Eagle Point and BlackRock TCP Capital seek yield through credit instruments, Eagle Point specializes in a more niche segment that allows them to target higher-risk, higher-yielding investments. This specialization can attract a different investor base interested in aggressive yield strategies, presenting a competitive alternative to TCPC’s broader middle-market focus.

FS KKR Capital Corp. 

FS KKR Capital Corp. operates as another significant player in the business development realm, providing various financing options to middle-market firms. They compete with BlackRock TCP Capital Corp. primarily in the quality and structure of their investment offerings, with FS KKR leveraging the extensive resources and backing of KKR, a global investment firm. This backing often allows FS KKR to access larger deal sizes and unique investment opportunities, positioning it favorably against TCPC.