BlackRock TCP Capital CEO Phil Tseng Steps Down Amid Fund Markdowns

By EC Assets · Published 4 September 2026

Phil Tseng, CEO of BlackRock TCP Capital, has resigned. His resignation follows fund markdowns at the company. BlackRock TCP Capital Corp. (TCPC) reported sequential declines in its net asset value (NAV) and investment income. These declines were due to portfolio markdowns. The company’s second quarter earnings call included discussion of these results. Management highlighted new developments during the call. TCPC also showed progress in reducing non-accruals, which decreased to 3.7% of fair value. BlackRock TCP Capital Corp.'s Q2 2025 earnings call addressed these topics. The call was recorded for replay purposes. This article is intended for informational purposes only. It does not constitute investment advice.