BLK - BlackRock Capital Q2 earnings helped by origination activity capital deployment

BlackRock Capital Investment ( NASDAQ: BKCC ) stock is advancing 2.6% in Wednesday afterhours trading after the business development company's Q2 earnings reflected solid origination activity and a higher level of capital deployment.

So far in Q3, "we are seeing a continuation of the level of deployment activity that we have seen in the first half of this year," as well as "pricing and structures more favorable to lenders in the private credit market," said Interim CEO and Chairman James E. Keenan.

Q2 adjusted net investment income of $0.08 per share matched the consensus and up from $0.07 in Q2 2021.

Investment income totaled $12.3M in the second quarter, compared with $10.9M a year ago.

Non-controlled and non-affiliated investments were $11.6M at June 30, up from $9.2M at June 30 of last year.

Net asset value of $4.57 per share at June 30 fell from $4.68 in the year-ago period, primarily driven by net unrealized losses of $9.7M in its portfolio.

The BDC, which is backed by investment management giant BlackRock ( BLK ), deployed $73.5M during Q2 while exits and repayments amounted to $25.1M, resulting in a net increase of $48.4M in its portfolio.

Conference call on August 4 at 10:00 a.m. ET.

In May, BlackRock Capital Investment declared a quarterly dividend of $0.10 per share .

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