BlackRock's private bond fund is expected to decline by 19% in net asset value.

BlackRock TCP Capital Corp. has forecasted that one of its private bond funds will be affected by a series of non-performing loans, resulting in a 19% decrease in net asset value. According to documents submitted, the publicly listed mid-cap loan fund is expected to lower its net asset value per share for the three months ending December 31 to between $7.05 and $7.09. The fund's net asset value per share was $8.71 as of September 30. One of the reasons for the fund's poor performance is its exposure to troubled home improvement company Renovo Home Partners and electronic commerce aggregator companies. As of Friday's close, the fund's market value is approximately $497 million.