BlackRock TCP Capital Shares Drop After 19% Quarter-End NAV Reduction
BlackRock TCP Capital reported a preliminary fourth-quarter 2025 net asset value (NAV) per share of $7.05 to $7.09, a drop from $8.71 at the end of the prior quarter. The company attributed the roughly 19% decline to issuer-specific developments concentrated in six portfolio companies. Non-accrual debt, leverage and a modest adviser fee waiver were…