On March 6, 2015, BlackRock Kelso Capital Corporation changed its name to BlackRock Capital Investment Corporation as the result of the consummation of a definitive agreement between BlackRock Advisors, LLC (“BlackRock Advisors”), a wholly owned subsidiary of BlackRock, Inc. (“BlackRock”), and BlackRock Kelso Capital Advisors whereby BlackRock Advisors became the investment advisor of BlackRock Kelso Capital Corporation. On January 16, 2018, BlackRock Advisors assigned the agreement to a wholly owned subsidiary, BlackRock Capital Investment Advisors (“BCIA”). The NASDAQ Ticker Symbol will remain BKCC.
BlackRock Capital Investment Corporation provides middle-market companies with flexible financing solutions across the capital structure, but with a focus on senior secured debt with an emphasis on first lien loans. Our strategy is to provide capital to meet our clients’ current and future needs across this spectrum, creating long-term partnerships with growing middle-market companies.
BlackRock Capital Investment Corporation was formed in 2005. BlackRock Capital Investment Corporation has capital resources of approximately $0.7 billion. Since the commencement of our operations, our team of investment professionals has evaluated more than 6,500 investment opportunities and completed investments in 316 portfolio companies, which we have invested in excess of $5.7 billion in capital provided to middle-market companies through September 30, 2022.
BlackRock Capital Investment Corporation investment team has a long history of investing in nearly every industry group and at every level of the capital structure, as well as providing unique financing solutions to meet the needs of business-owners and managers.
Unlike traditional banks and finance companies, BlackRock Capital Investment Corporation can provide flexible capital in a wide variety of structures ranging from senior loans, including cash flow, asset-backed and junior lien facilities, to common equity investments.
Unlike traditional private equity firms, BlackRock Capital Investment Corporation is comfortable making non-control investments in middle-market companies in all industries.
Our investment objective is to generate both current income and capital appreciation through our debt and equity investments. We invest primarily in middle-market companies and target investments that we believe provide an attractive risk-adjusted return. Our targeted investment typically ranges between $5 million and $25 million, although the investment sizes may be more or less than the targeted range and the size of our investments may grow with our capital availability. We generally seek to invest in companies that operate in a broad variety of industries and that generate positive cash flow.
BlackRock Capital Investment Corporation is organized as an externally-managed, non-diversified closed-end management investment company and has elected to be regulated as a Business Development Company (BDC) under the Investment Company Act of 1940.
A Business Development Company is a closed-end investment company that primarily invests in private businesses. BDCs are an outgrowth of the Small Business Investment Incentive Act of 1980 which added provisions governing BDCs to the Investment Company Act of 1940. BDCs were created by Congress to encourage the flow of public capital to middle-market companies. We operate as a BDC for regulatory oversight and reporting purposes and as a regulated investment company (RIC) for tax purposes. In addition to providing financing, BDCs can also offer guidance and resources to help their portfolio companies grow. Investors benefit by having the opportunity to invest in private companies through a transparent, publicly reporting company that typically pays a cash distribution.