BlackRock TCP Capital reports Q2 adjusted NII 31c vs 38c last year

Net asset value per share was $8.71 vs. $9.18 from Q1. “We made solid progress in reducing non-accruals, which declined to 3.7% of the portfolio’s fair market value in the second quarter, down from 4.4% last quarter and 5.6% at the end of 2024,” said Phil Tseng, chairman, co-chief investment officer, and CEO of BlackRock TCP Capital (TCPC) Corp. “While net asset value declined, this was driven by markdowns on previously restructured investments rather than new credit issues. We are actively engaged with these portfolio companies and focused on optimizing outcomes for our shareholders.”