NEW YORK--(BUSINESS WIRE)--Apr. 30, 2018--
BlackRock Capital Investment Corporation (BCIC) (NASDAQ:BKCC) today
announced a transition in leadership and the elevation of certain senior
investors to additional roles.
James Keenan, the Chairman of BCIC, has been appointed Chief Executive
Officer of the company. Mr. Keenan, who is also Chief Investment Officer
and Global Co-Head for BlackRock Global Credit, will hold that role on
an interim basis while the appropriate succession process is completed.
He succeeds Michael Zugay as CEO for BCIC. Mr. Zugay has decided to
depart from BCIC and BlackRock’s US Private Capital unit (USPC) for
personal reasons. USPC is responsible for the investment portfolio of
BCIC for BlackRock Capital Investment Advisors, LLC, the investment
advisor for BCIC.
Jason Mehring succeeds Mr. Zugay as Chairman of the USPC Investment
Committee. He is currently Vice Chairman of the Committee. Marshall
Merriman, a current member of the USPC Investment Committee, will become
The transition comes as USPC and BlackRock’s credit platform prepare for
a significant new phase of growth and development, which includes new
product launches and an ongoing expansion of its capabilities and team.
“Mike helped to integrate and enhance the US Private Capital team’s
business, and we are grateful for his contributions,” Mr. Keenan said.
Mr. Mehring has been an integral member of the BCIC leadership team
since joining in 2005, focusing on sourcing, underwriting and portfolio
management. Before coming to BlackRock, he spent more than 10 years at
Banc of America Capital Investors and was a Principal of the firm.
Mr. Merriman also has been a key part of BCIC since 2005. He too focuses
on sourcing, origination and heads portfolio management. Previously, he
was a Managing Director with Harris Williams & Company, an investment
bank providing mergers and acquisitions and financial advice to middle
In addition, Mr. Zugay will no longer stand for election as a director
of BCIC's board of directors. In light of these developments, the BCIC
will call to order its Annual Meeting of Stockholders, scheduled to be
held on Friday, May 4, 2018, for the purpose of adjourning the
meeting. That meeting will reconvene on the 4th floor of 40 East 52nd
Street, New York, New York, on Friday, May 11, 2018, at 10:00 a.m. ET.
About BlackRock Capital Investment Corporation
BlackRock Capital Investment Corporation is a business development
company that provides debt and equity capital to middle-market companies.
The Company's investment objective is to generate both current income
and capital appreciation through debt and equity investments. The
Company invests primarily in middle-market companies in the form of
senior and junior secured and unsecured debt securities and loans, each
of which may include an equity component, and by making direct
preferred, common and other equity investments in such companies.
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Source: BlackRock Capital Investment Corporation
BlackRock Capital Investment Corporation