UNITED STATES

SECURITIES AND EXCHANGE

COMMISSION

Washington, D.C. 20549

SCHEDULE 13G/A

Under the Securities Exchange Act of 1934
(Amendment No. 2)

Blackrock Capital Investment Corporation

(Name of Issuer)

Common Stock

(Title of Class of Securities)

092533108

(CUSIP Number)

December 31, 2023

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

¨	Rule 13d-1(b)
x	Rule 13d-1(c)
¨	Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 092533108

Schedule 13G

1	Names of Reporting Persons Ares Income Opportunity Fund, L.P.

2	Check the Appropriate Box if a Member of a Group
	(a)	¨
	(b)	x

3	SEC Use Only

4	Citizen or Place of Organization Delaware

Number of Shares Beneficially Owned by Each Reporting Person With	5	Sole Voting Power 0

	6	Shared Voting Power 750,676

	7	Sole Dispositive Power 0

	8	Shared Dispositive Power 750,676

	9	Aggregate Amount Beneficially Owned by Each Reporting Person 750,676

	10	Check if the Aggregate Amount in Row (9) Excludes Certain Shares ¨ Not Applicable

	11	Percent of Class Represented by Amount in Row 9 1.0%*

	12	Type of Reporting Person PN

* The calculation of the percentage of outstanding shares is based on 72,571,907 shares of Common Stock (as defined below) outstanding as of November 7, 2023, as disclosed by the Issuer (as defined below) in its Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission (“SEC”) on November 8, 2023 (“Form 10-Q”).

CUSIP No. 092533108

Schedule 13G

1	Names of Reporting Persons Ares Multi-Asset Credit Strategies Fund LP

2	Check the Appropriate Box if a Member of a Group
	(a)	¨
	(b)	x

3	SEC Use Only

4	Citizen or Place of Organization Cayman Islands

Number of Shares Beneficially Owned by Each Reporting Person With	5	Sole Voting Power 0

	6	Shared Voting Power 117,373

	7	Sole Dispositive Power 0

	8	Shared Dispositive Power 117,373

	9	Aggregate Amount Beneficially Owned by Each Reporting Person 117,373

	10	Check if the Aggregate Amount in Row (9) Excludes Certain Shares ¨ Not Applicable

	11	Percent of Class Represented by Amount in Row 9 0.2%*

	12	Type of Reporting Person FI

BlackRock Capital Investment Corp SC 13G/A