BlackRock TCP Capital posts Q3 loss as portfolio sale weighs
TCPC•BlackRock TCP Capital reported a third-quarter loss of $0.80 per share and net asset value of $5.61 per share. Net investment income fell short of the dividend payout, as realized losses from a portfolio sale and increased non-accrual investments weighed on results.
1. Quarterly results
BlackRock TCP Capital reported a third-quarter net loss of $0.80 per share, while net asset value fell to $5.61 per share. Net investment income fell short of the dividend payout.
2. Factors affecting results
Realized losses from investment sales through the Continuation Vehicle transaction and a higher proportion of investments on non-accrual status contributed to weaker performance. CEO Jason Mehring said strong repayment and realization activity reduced leverage and increased liquidity.
