1 Reflects Direct Lending transactions funded between June 21, 2000 and December 31, 2022 across multiple funds and accounts managed by Tennenbaum Capital Partners, LLC (“TCP”) and investment professionals in BlackRock’s U.S. Private Capital group. On 1 August 2018, BlackRock acquired TCP and the TCP investment professionals comprise the majority of the Direct Lending investment team. Certain of the legacy TCP vehicles are dedicated direct lending/performing credit funds and others include both of legacy TCP’s core strategies (including special situations). Investments that were initially “Special Situations” investments are not included. Special Situations are: rescue loans, distressed-for-control, deep value, and structured equity investments.
2 Source: BlackRock as of 09/30/22, 1100 deals reviewed and 66 deals completed in 2022.