Description

BlackRock Capital Investment Corporation, a Business Development Company (BDC) formerly known as BlackRock Kelso Capital Corporation, primarily focuses its investment strategy on middle-market businesses. The firm's portfolio spans across all industries, without specific sector limitations. Typically, it aims to deploy between $10 million and $50 million per transaction, though it maintains flexibility to adjust these amounts. It seeks out companies that generate between $10 million and $50 million in EBITDA or operating cash flow. Its diverse investment vehicles encompass both debt and equity instruments. Debt investments include senior and junior secured, unsecured, and subordinated debt securities, as well as various loans such as cash flow, asset-backed, and junior lien facilities. On the equity side, the company participates through warrants, preferred shares, common equity co-investments, and direct common stock purchases. Debt investments are primarily structured to yield current cash interest. However, a component of non-cash interest, often utilizing a pay-in-kind (PIK) feature, may be incorporated, especially with subordinated debt. Additionally, BlackRock Capital Investment Corporation is able to make non-controlling investments.