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BlackRock buying TCP Capital's manager

Apr. 18, 2018 10:18 AM ETBlackRock, Inc. (BLK) StockBy: Stephen Alpher, SA News Editor7 Comments
  • 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.

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