BlackRock’s Private Debt Fund Draws Shareholder Class Action

An investor sued BlackRock TCP Capital Corp. and three of its executives for allegedly misleading shareholders about the company’s net asset value and portfolio health.

The proposed shareholder class action, filed Tuesday by investor Cory Burnell, comes one week after the BlackRock Inc. fund announced it expected to mark down the net value of its assets 19% after a string of troubled loans weighed on results. The fund previously announced in November 2025 that the private debt it extended to Renovo Home Partners was zero after Renovo filed for bankruptcy.

The suit, filed in the US District Court for ...