Private company

BlackRock Direct Lending Corp.

American company based in Santa Monica2

In its 2026 annual report the company says: “The Company is an externally managed, non-diversified closed-end management investment company that has elected to be regulated as a BDC under the Investment Company Act of 1940, as amended. The Company’s investment objective is to target high risk-adjusted returns produced primarily from current income generated by investing primarily in senior secured corporate debt instruments.”4

Last updated Oct 20, 2026.

Overview

  • HeadquartersSanta Monica, United States2
  • Incorporated inDE3
  • Business address2951 28Th Street, Suite 1000, Santa Monica, Ca 904053
  • Filer category, Emerging growth company3
  • Legal formCorporation2
  • LEI549300NUVIV7LGPGGW592
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 38654552

See how the biggest companies compare on our leaderboards

The Company is an externally managed, non-diversified closed-end management investment company that has elected to be regulated as a BDC under the Investment Company Act of 1940, as amended (the “1940 Act”). The Company’s investment objective is to target high risk-adjusted returns produced primarily from current income generated by investing primarily in senior secured corporate debt instruments. The Company primarily targets investments in companies headquartered in North America but will have the ability to invest in compelling opportunities in other jurisdictions, subject to regulatory limitations and other investment restrictions.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income567$5.1M in 2025+35% since 2021
0$10.0M$20.0M$30.0M2021: $3.8M$3.8M20212022: $4.9M$4.9M2022+29%2023: $20.5M$20.5M2023+317%2024: $10.8M$10.8M2024−47%2025: $5.1M$5.1M2025−52%
Fiscal year202120222023202420252026
Operating expenses$2.4M5$4.6M6$10.7M7$8.5M7$4.1M7
Net income$3.8M5$4.9M6$20.5M7$10.8M7$5.1M7
Earnings per share$0.695$0.426$1.037$0.467$0.197
Earnings per share (diluted)$0.695$0.426$1.037$0.467$0.197
Shares (weighted, basic)5.3M shares712.2M shares720.1M shares725.6M shares728.2M shares7
Shares (weighted, diluted)5.3M shares512.2M shares620.1M shares725.6M shares728.2M shares7

Compare BlackRock Direct Lending Corp. with another company

Corporate structure

BlackRock Direct Lending Corp. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of BlackRock Direct Lending Corp.

  • Institution For Social Security Public Filed SCHEDULE 13D/A on BlackRock Direct Lending Corp., latest Jun 24, 2025 (10 filings since Nov 23, 2021)
  • BlackRock Direct Lending Corp. Santa Monica, California, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What BlackRock Direct Lending Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$47.2M7 Dec 31, 2025$28.4M7 Dec 31, 2024+66.3%

Properties, in its own words

We do not own any real estate or other physical properties materially important to our operation. Our executive offices are located at 2951 28th Street Suite 1000, Santa Monica, CA 90405, and are provided by the Advisor in accordance with the terms of the Administration Agreement. We believe that our office facilities are suitable and adequate for our business as it is contemplated to be conducted.

Item 2 of the 10-K filed Feb 27, 2026.4

Leadership

Who has led BlackRock Direct Lending Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Nik Singhal2021
  2. Rajneesh Vig2024–now

President

  1. Bradley B. Pritchard2021
  2. John Kerwin Doyle2022
  3. Philip M. Tseng2024–now

Chief financial officer

  1. Erik L. Cuellar2021

Chief operating officer

  1. Bradley B. Pritchard2021
  2. John Kerwin Doyle2022
  3. Jason Mehring2024
  4. Patrick Wolfe2024–now
2025
Board members and other officers (15)

Timeline

  1. Sep 25, 20268-K Executive or director change28
  2. Sep 4, 20268-K Executive or director change; Other events29
  3. May 27, 20268-K Shareholder vote30
  4. Aug 1, 20258-K Executive or director change31
  5. Jul 16, 20258-K Executive or director change32
  6. Jul 1, 20258-K Other events33
  7. May 22, 20258-K Shareholder vote34
  8. Jan 27, 20258-K Executive or director change35
  9. Dec 3, 20248-K Other events36
  10. Nov 19, 20248-K Executive or director change37
  11. Sep 16, 20248-K Executive or director change38
  12. Sep 16, 20248-K Executive or director change39
  13. May 14, 2024New chief executive Rajneesh Vig becomes CEO10
  14. Feb 8, 2021New chief executive Nik Singhal becomes CEO11
  15. Oct 12, 2020Founded BlackRock Direct Lending Corp. is founded2

Filings

94 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 25 major events, 23 insider forms, 10 large holders, 15 other. The latest 20:

  1. Sep 25, 20268-K EDGAR
  2. Sep 4, 20268-K EDGAR
  3. Aug 6, 202610-Q EDGAR
  4. May 27, 20268-K EDGAR
  5. May 7, 2026IRANNOTICE EDGAR
  6. May 7, 202610-Q EDGAR
  7. Apr 10, 2026ARS EDGAR
  8. Apr 9, 2026DEF 14A EDGAR
  9. Feb 27, 202610-K EDGAR
  10. Feb 27, 2026IRANNOTICE EDGAR
  11. Jan 6, 202640-17G EDGAR
  12. Nov 7, 202510-Q EDGAR
  13. Aug 8, 202510-Q EDGAR
  14. Aug 1, 20258-K BLACKROCK DIRECT LENDING CORP - 8-K EDGAR
  15. Jul 31, 20253 EDGAR
  16. Jul 16, 20258-K BLACKROCK DIRECT LENDING CORP - 8-K EDGAR
  17. Jul 1, 20258-K BLACKROCK DIRECT LENDING CORP - 8-K EDGAR
  18. Jun 24, 2025SCHEDULE 13D/A EDGAR
  19. Jun 24, 20254 EDGAR
  20. May 22, 20258-K EDGAR

The 94 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • Institution For Social Security PublicSCHEDULE 13D/A, 10 filings Nov 23, 2021 to Jun 24, 202540

SEC filer profile

How BlackRock Direct Lending Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBlackRock Direct Lending Corp.1
  • CIK0001834543
  • Employer ID (EIN)85-34390734
  • Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Business address2951 28Th Street, Suite 1000, Santa Monica, CA 904051
  • Phone(310) 566-10941
  • Shares outstanding29,173,775 as of Aug 6, 20269
  • Public float$0 as of Dec 31, 20257
  • AuditorDeloitte & Touche LLP, Los Angeles, California PCAOB ID 34; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceDec 10, 20201
  • Filings127 in all: 8-K (27), 3 (22), 10-Q (17), 4 (12), SC 13D/A (9), 10-K (6), 40-17G (6), 40-APP/A (6)1
    All 21 form types

    DEF 14A (6), 40-APP (3), DEFA14A (2), IRANNOTICE (2), 10-12G (1), 10-12G/A (1), 10-K/A (1), ARS (1), CORRESP (1), D (1), N-54A (1), SC 13D (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 9, 2026
    Latest 8-K (8-K) Sep 25, 2026

Securities registered for trading

ClassSymbolExchange
NoneNONE

From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks BlackRock Direct Lending Corp. names in Item 1A of its 10-K filed Feb 27, 2026: 71 risks under these headings, as written.4

  • Risks Related to Our Business
  • Market disruptions and other geopolitical or macroeconomic events could create market volatility that negatively impacts our business, financial condition and earnings.
  • Economic recessions or downturns could impair our portfolio companies and harm our operating results.
  • We are subject to risks related to inflation.
  • Capital markets may experience periods of disruption and instability. Such market conditions may materially and adversely affect debt and equity capital markets in the U.S. and abroad, which may have a negative impact on our business and operations.
  • The U.S. and global capital markets are subject to systemic risk that could adversely affect our business, financial condition and results of operations.
  • Price declines and illiquidity in the corporate debt markets have adversely affected, and may in the future adversely affect, the fair value of our portfolio investments, reducing our net asset value through increased net unrealized depreciation.
  • Changes in legal, tax and regulatory regimes could negatively impact our business, financial condition and earnings.
  • Tariffs may adversely affect us or our portfolio companies.
  • Changes in interest rates may adversely affect the value of our portfolio investments which could have an adverse effect on our business, financial condition and results of operations.
  • We are subject to risks associated with artificial intelligence and machine learning technology.
  • We may not replicate the historical performance of other investment companies and funds with which our investment professionals have been affiliated.
The other 60 risks
  • We are not managed by BlackRock, but rather one of its subsidiaries and may not replicate the success of that entity or BlackRock.
  • Our business model depends upon the development and maintenance of strong referral relationships with other asset managers and investment banking firms.
  • The Advisor’s liability is limited under the investment management agreement, and we are required to indemnify the Advisor against certain liabilities, which may lead the Advisor to act in a riskier manner on our behalf than it would when acting for its own account.
  • We may suffer credit losses.
  • We are subject to certain risks from leverage under our credit agreement.
  • The disposition of our investments may result in contingent liabilities.
  • The lack of liquidity in our investments may adversely affect our business.
  • A substantial portion of our portfolio investments are recorded at fair value as determined using a consistently applied valuation process in accordance with our documented valuation policy that has been reviewed and approved by our Board of Directors and, as a result, there may be uncertainty regarding the value of our portfolio investments.
  • A portion of our distributions to stockholders may include a return of stockholder capital.
  • We may have difficulty paying our required distributions if we recognize income before or without receiving cash representing such income.
  • To the extent OID and PIK interest constitute a portion of our income, we will be exposed to typical risks associated with such income being required to be included in taxable and accounting income prior to receipt of cash representing such income.
  • Because we are required to distribute substantially all of our net investment income and net realized capital gains to our stockholders, we will continue to need additional capital to finance our growth.
  • Any unrealized losses we experience on our investment portfolio may be an indication of future realized losses, which could reduce our income available for distribution.
  • Our Advisor and its affiliates and employees may have certain conflicts of interest.
  • Our incentive compensation may induce our Advisor to make certain investments, including speculative investments.
  • We may be obligated to pay the Advisor incentive compensation payments in excess of the amounts we would have paid if such compensation was subject to clawback arrangements.
  • Our Advisor’s liability is limited under the investment management agreement, and we are required to indemnify our Advisor against certain liabilities, which may lead our Advisor to act in a riskier manner on our behalf than it would when acting for its own account.
  • We are dependent upon senior management personnel of the Advisor for our future success; if the Advisor is unable to retain qualified personnel or if the Advisor loses any member of its senior management team, our ability to achieve our investment objective could be significantly harmed.
  • The Advisor can resign on 60 days’ notice, and we may not be able to find a suitable replacement within that time, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations.
  • We may experience fluctuations in our periodic operating results.
  • If we fail to maintain our status as a BDC, our business and operating flexibility could be significantly reduced.
  • Because we intend to distribute substantially all of our income to our stockholders to maintain our status as a RIC, we will continue to need additional capital to finance growth. If additional funds are unavailable or not available on favorable terms, our ability to grow will be impaired.
  • The highly competitive market in which we operate may limit our investment opportunities.
  • Our Board of Directors may change our investment objective, operating policies and strategies without prior notice or stockholder approval, the effect of which may be adverse.
  • BlackRock Acquisition of HPS.
  • Risks Related to Our Investments
  • Our investments are risky and highly speculative, and we could lose all or part of our investment.
  • A trading market or market value of our debt securities may fluctuate.
  • We may expose ourselves to risks if we engage in hedging transactions.
  • We are subject to credit risk related to investments in our portfolio companies and with our financial institutions and counterparties.
  • Because our investments are generally not in publicly traded securities, there will be uncertainty regarding the value of our investments, which could adversely affect the determination of our net asset value.
  • We and the Advisor may be a party to legal proceedings in connection with our investments in our portfolio companies.
  • We may not be in a position to exercise control over our portfolio companies or to prevent decisions by management of our portfolio companies that could decrease the value of our investments.
  • Our portfolio companies may incur debt that ranks equally in right of payment with, or senior to, our investments in such companies.
  • There may be circumstances in which our debt investments could be subordinated to claims of other creditors or we could be subject to lender liability claims.
  • Our portfolio companies may be highly leveraged.
  • Our portfolio companies may prepay loans, which prepayment may reduce stated yields in the future if capital returned cannot be invested in transactions with equal or greater expected yields.
  • Concentration of our assets in an issuer, industry or sector may present more risks than if we were more broadly diversified over numerous issuers, industries and sectors of the economy.
  • Our failure to make follow-on investments in our portfolio companies could impair the value of our portfolio.
  • Our investments in foreign securities may involve significant risks in addition to the risks inherent in U.S. investments.
  • Our investments in the financial services sector are subject to various risks including volatility and extensive government regulation.
  • Our investments in the Software, Internet & Catalog Retail, and IT Services sector are subject to various risks, including intellectual property infringement issues and rapid technological changes, which may adversely affect our performance. Each industry contains certain industry related credit risks.
  • The effect of global climate change may impact the operations of our portfolio companies.
  • We may invest in “covenant-lite” loans, which could have limited investor protections, and expose us to different and increased risks.
  • Risks Related to Our Operations as a BDC
  • While our ability to enter into transactions with our affiliates is restricted under the 1940 Act, we have received an exemptive order from the SEC permitting certain affiliated investments subject to certain conditions. As a result, the Advisor may face conflicts of interests and investments made pursuant to the exemptive order conditions could in certain circumstances adversely affect the price paid or received by us or the availability or size of the position purchased or sold by us.
  • Regulations governing our operation as a BDC may limit our ability to, and the way in which we raise additional capital, which could have a material adverse impact on our liquidity, financial condition and results of operations and may hinder the Advisor's ability to take advantage of attractive investment opportunities and to achieve our investment objective.
  • Changes in the laws or regulations governing our business or the business of our portfolio companies, or changes in the interpretations thereof or newly enacted legislation and regulations, and any failure by us or our portfolio companies to comply with these laws or regulations, could have a material adverse effect on our business, results of operations or financial condition of us or our portfolio companies.
  • If we do not invest a sufficient portion of our assets in qualifying assets, we could be precluded from investing in certain assets or could be required to dispose of certain assets, which could have a material adverse effect on our business, financial condition and results of operations.
  • We will be subject to corporate-level U.S. federal income tax on all of our income if we are unable to qualify as a RIC under the Code, which could have a material adverse effect on our financial performance.
  • There is a risk that you may not receive distributions or that our distributions may not grow over time and a portion of our distributions may be a return of capital.
  • If we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results or prevent fraud. As a result, stockholders could lose confidence in our financial and other public reporting, which would harm our business and the trading price of our common stock.
  • We may experience cybersecurity incidents and are subject to cybersecurity risks.
  • We are subject to the cybersecurity risks of our Service Providers, which could negatively impact the Company and its shareholders.
  • The failure in cybersecurity systems, as well as the occurrence of events unanticipated in our disaster recovery systems and management continuity planning could impair our ability to conduct business effectively.
  • We are dependent on information systems and systems failures could significantly disrupt our business, which may, in turn, negatively affect the market price of our common stock and our ability to pay dividends.
  • Risks Related to Our Common Stock
  • Shares of our common stock are not insured or guaranteed by any person or entity.
  • Shares of our common stock are subject to restrictions on transfer.
  • We cannot assure you that a trading market for our common stock will develop or be maintained.
  • Stockholders will not have any direct interests in our investments.
  • A stockholder default could have adverse consequences on the Company.
  • Stockholders may receive confidential information.

Legal proceedings

We and the Advisor are not currently subject to any material pending or threatened legal proceedings against us. From time to time, we may be a party to certain legal proceedings incidental to the normal course of our business including the enforcement of our rights under contracts with our portfolio companies. While the outcome of these legal proceedings cannot be predicted with certainty, we do not expect that these proceedings will have a material effect upon our business, financial condition or results of operations.

The opening of Item 3, Legal Proceedings.4

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
    SEC EDGAROther events
  34. 34
  35. 35
  36. 36
    SEC EDGAROther events
  37. 37
  38. 38
  39. 39
  40. 40