Business development company (BDC) focusing on middle-market companies.
BlackRock Capital Investment Corporation, formerly known as BlackRock Kelso Capital Corporation, operates as a Business Development Company (BDC) with a focus on investments in middle market companies across various industries. The firm targets investments ranging from $10 million to $50 million, with flexibility to adjust based on the specific needs and financial metrics of the companies it invests in. Its investment portfolio includes senior and junior secured debt, unsecured debt, subordinated debt securities, and various forms of equity investments such as warrants, preferred stock, and common equity co-investments. This diverse approach allows BlackRock Capital Investment Corporation to participate actively in the growth and financing needs of its portfolio companies.
The fund's strategy emphasizes current cash interest from debt investments, supplemented by potential non-cash interest, particularly in subordinated debt investments structured with pay-in-kind (PIK) features. This approach aligns with its broader goal of generating income and capital appreciation for its shareholders over the long term. Beyond debt instruments, the fund also considers non-control equity investments, demonstrating its flexibility in supporting companies at different stages of growth and across various financial structures.
As a significant player in the middle market investment landscape, BlackRock Capital Investment Corporation leverages its extensive experience and network to identify compelling investment opportunities. By providing tailored financing solutions, including debt and equity capital, the firm contributes to the expansion and operational enhancement of the companies within its portfolio. This proactive investment approach underscores its commitment to fostering growth and value creation, while strategically managing risk to achieve sustainable returns for its investors.