BlackRock Capital Investment Corporation (BCIC) 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 the company. Mr. Zugay has decided to depart from the company and BlackRock's US Private Capital unit (USPC) for personal reasons. 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 Vice Chairman. 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.

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 market companies. In addition, Mr. Zugay will no longer stand for election as a director of BCIC's board of directors at the Annual Meeting of Stockholders to be held on May 11, 2018.