BlackRock TCP Capital has appointed Dan Worrell as Chief Operating Officer, effective December 18, 2026, succeeding Patrick Wolfe, who is leaving the company to pursue other business opportunities outside BlackRock.
The appointment was approved by the company’s board of directors on September 25, 2026, following Wolfe’s notification of his planned resignation on September 22.
Wolfe’s resignation will become effective at the close of business on December 18. According to the company’s regulatory filing, his departure is not the result of any disagreement with BlackRock TCP Capital or BlackRock.
Worrell will also become COO of BlackRock Direct Lending Corp. and BlackRock Private Credit Fund, with both appointments becoming effective on the same date.
He currently serves as President of all three investment companies and will retain those responsibilities following his appointment as COO.
The leadership changes establish a coordinated operating structure across three BlackRock private credit investment vehicles.
Worrell brings extensive experience in direct lending, credit investing, portfolio management, and evaluating secured financing opportunities for middle-market businesses.
He is a Managing Director at BlackRock and a senior member of its Private Financing Solutions platform.
Within that organization, Worrell is a leader in BlackRock’s U.S. core middle-market direct lending strategy, which focuses on private secured investments in established U.S. businesses.
His responsibilities include overseeing portfolio management processes and participating in the evaluation, structuring, and execution of lending transactions.
These activities involve assessing the financial performance and capital requirements of prospective borrowers, evaluating credit risk, and developing financing structures appropriate for different companies and transactions.
Worrell’s experience across these areas provides a background relevant to the investment companies’ lending and portfolio management operations.
Before assuming his latest leadership responsibilities, Worrell served as Co-Chief Investment Officer of BlackRock TCP Capital, BlackRock Direct Lending Corp., and BlackRock Private Credit Fund.
He held those positions from November 6, 2024, through September 2, 2026.
His appointment as COO follows the completion of his tenure as Co-Chief Investment Officer and his continued responsibilities as President.
Before joining BlackRock, Worrell served as a Managing Director at Tennenbaum Capital Partners, where he led investments across multiple industry sectors.
His areas of responsibility included healthcare, consumer brands, retail, and consumer and specialty finance.
The experience exposed him to the financing requirements of businesses operating across several industries.
Earlier in his career, Worrell served as a High Yield Portfolio Manager at Mulholland Capital Advisors.
His background combines investment management experience with senior leadership responsibilities across direct lending platforms.
Worrell earned an MBA from Columbia University and a Bachelor of Science from California State University, Northridge.
His appointment comes as BlackRock continues operating a broad private financing business that includes credit investment vehicles serving different investor groups.
BlackRock TCP Capital is a publicly traded business development company focused on providing financing to middle-market companies.
The company’s investment activities are closely connected to BlackRock’s broader private credit capabilities, including its U.S. core middle-market direct lending strategy.
By appointing Worrell as COO across three investment vehicles, BlackRock is establishing a common senior operating leader while maintaining his existing responsibilities as President.
The regulatory filing did not disclose additional compensation arrangements associated with the appointment or identify a replacement for Worrell’s previous Co-Chief Investment Officer position.
The changes will take effect in December, completing the planned transition following Wolfe’s departure.
