BlackRock Capital Investment Corporation

BlackRock Capital Investment Corporation, formerly BlackRock Kelso Capital Corporation, functions as a Business Development Company primarily focused on providing capital to middle-market businesses.

The firm adopts an industry-agnostic investment strategy, allocating funds across all sectors.

It generally targets investments ranging from $10 million to $50 million, with the flexibility to commit more or less, in companies that exhibit EBITDA or operating cash flow between $10 million and $50 million.

Its investment instruments span various debt forms, including senior and junior secured, unsecured, and subordinated debt securities and loans, which may encompass cash flow, asset-backed, and junior lien facilities.

Additionally, equity investments can be structured as warrants, preferred stock, co-investments in common equity, or direct purchases of common stock. Debt investments are typically designed to provide current cash interest, although subordinated debt may feature non-cash interest through a pay-in-kind (PIK) mechanism.

The company also engages in non-control investments.