BlackRock TCP Capital made several changes to its leadership team, effective Nov. 6, 2024:
- Rajneesh Vig, CEO and chairman of the board, will resign his position and will continue to serve on the company’s board of directors until Jan. 31, 2025 to ensure a smooth transition. Vig made the decision to step back from those roles and to pursue other opportunities outside of BlackRock.
- Phil Tseng, current president, will succeed Raj Vig as chairman of the board of directors and CEO. He has also been named co-chief investment officer.
- Jason Mehring, current chief operating officer, will assume the role of president.
- Patrick Wolfe, a senior investment professional with BlackRock’s U.S. private capital platform, has been appointed chief operating officer.
- Dan Worrell, a senior investment professional with BlackRock’s U.S. private capital platform, has been named co-chief investment officer with Phil Tseng.
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“It has been an honor to lead BlackRock TCPC Capital Corp. over the past several years and to play a key role in the development and growth of the firm since 2006,” Vig said. “Having partnered closely with Phil Tseng over a long and productive time, I know our team is in great hands and positioned for the next phase of growth and success.”
“It has been a privilege to work alongside Raj, and I appreciate our board’s vote of confidence in appointing me chairman and chief executive officer,” Tseng said. “I am excited to lead TCPC going forward with the support of my long-time colleagues Jason Mehring, Patrick Wolfe and Dan Worrell. Private credit continues to play a significant role in the growth of our economy, and we are uniquely positioned to help middle market companies access the capital they need to grow their businesses. I look forward to a seamless transition as our talented and dedicated team continues to leverage the strength of the BlackRock platform to create value for our borrowers and our shareholders.”
“On behalf of our entire Board of Directors, I want to thank Raj Vig for his leadership and his many contributions to the company, including guiding the successful merger of BCIC and TCPC,” Eric Draut, lead independent director of BlackRock TCP Capital, said. “Over the past decade, Raj helped to strategically develop TCPC into a top-performing BDC with a track record of consistently delivering strong shareholder returns. Having worked closely with Phil Tseng in his role as TCPC’s president, the board has tremendous confidence in Phil to successfully lead the company and team forward.”
