CCOI vs TCPC Comparison

Cogent carries over one-fifth of the world's internet traffic on its network, providing high-capacity services to businesses. Cogent's netcentric customers, which contribute nearly half of total revenue, include internet service providers and content providers, to which Cogent provides internet transit service. They hand traffic to Cogent in data centers and rely on Cogent to deliver it. About half of netcentric revenue is from outside the US. Cogent's corporate customers are in high-rise office buildings, where the firm provides two types of connections: dedicated internet access, which connects them to the internet, and virtual private networking. Cogent's corporate customers are exclusively in North America and account for about 40% of the firm's revenue.

BlackRock TCP Capital Corp is an externally-managed specialty finance company focused on middle-market lending. Its investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It seeks to achieve its investment objective through investments in debt securities of middle-market companies. The group generates returns through a combination of the receipt of contractual interest payments on debt investments and origination and similar fees, and, to a lesser extent, equity appreciation through options, warrants, conversion rights, or direct equity investments.