BlackRock TCP Capital Corp. CEO Resigns; Jason Mehring Named CEO and Board Chair

What Happened
BlackRock TCP Capital Corp. (TCPC) filed an 8-K reporting that Philip Tseng resigned as Director, Board Chair, Chief Executive Officer and Co‑Chief Investment Officer of TCPC, BlackRock Private Credit Fund (BDEBT) and BlackRock Direct Lending Corp. (BDLC), effective at the close of business on August 31, 2026, to pursue other opportunities outside of BlackRock, Inc. Mr. Tseng will remain a BlackRock, Inc. employee through October 1, 2026 to support transition and his resignation was not due to any disagreement. On September 2, 2026 the Board appointed Jason Mehring as Director, Chair of the Board and Chief Executive Officer (also appointed Trustee/Director, Chair and CEO of BDEBT and BDLC), and appointed Dan Worrell as President, each effective September 2, 2026.

Key Details

• Filing: Form 8‑K filed September 4, 2026 reporting the officer and director changes.
• Resignation date: Philip Tseng resigned effective August 31, 2026; he will stay employed by BlackRock, Inc. through October 1, 2026 for transition.
• Appointments effective: Jason Mehring (b.1971) named Chair and CEO; Dan Worrell (b.1963) named President — both effective September 2, 2026.
• Officer roster (effective Sept 2, 2026): Jason Mehring (Chair, CEO); Dan Worrell (President); Patrick Wolfe (COO); Erik L. Cuellar (CFO, Treasurer); Charles C. S. Park (Chief Compliance Officer); Diana Huffman (General Counsel, Secretary).
• Investment Committee: As of close of business Aug 31, 2026 Philip Tseng is no longer a voting member; voting members continuing include Jason Mehring, Dan Worrell, Rob DiPaolo, Vikas Keswani, Michael Fenstermacher, and Grishma Parekh.

Why It Matters
This filing documents a top‑level leadership change at TCPC and its affiliated funds (BDEBT, BDLC) with internal promotions from BlackRock’s Private Financing Solutions team, signaling continuity in the manager and investment team. For retail investors, the important facts are the effective dates, that the resigning CEO’s departure is not due to disagreement, and that key investment‑committee membership remains intact — factors that speak to operational continuity and governance oversight. Investors should monitor future communications for any changes to strategy, portfolio management, or disclosures tied to these leadership transitions.