- BlackRock (NYSE:BLK) adds to its alternative investment platform with an agreement to buy Tennenbaum Capital Partners.
- Tennenbaum had about $9B in AUM as of year-end 2017, and serves as the investment manager for TCP Capital (TCPC +0.6%). Current Tennenbaum team members overseeing TCPC will continue in that capacity under BlackRock.
- The deal is seen closing in Q3, and the financial impact isn't expected to be material to BLK earnings.
BlackRock buying TCP Capital's manager
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Symbol | Last Price | % Chg |
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