Business
Vertical Capital Income Fund Announces Appointment of Carlyle as Investment Manager and Rebrand to Carlyle Credit Income Fund
Company Changes Investment Mandate to Focus on Investing in CLOsWill Trade Under New Stock Ticker 'CCIF'Carlyle Completes Previously-Announced $10 Million
About this update from The Carlyle Group Inc.
[{"type":"text","content":"Company Changes Investment Mandate to Focus on Investing in CLOsWill Trade Under New Stock Ticker 'CCIF'Carlyle Completes Previously-Announced $10 Million One-Time Payment to Company Shareholders of RecordCarlyle Will Launch $25 Million Tender Offer for Company Shares on July 18, 2023Company Board of Trustees Declares July Dividend of $0.0551NEW YORK, July 17, 2023 /PRNewswire/ -- Vertical Capital Income Fund (NYSE: VCIF) (\"VCIF\" or the \"Company\") today announced that it has changed its corporate name from VCIF to Carlyle Credit Income Fund (\"CCIF\") in connection with the closing of the previously announced transaction with global investment firm, Carlyle (NYSE: CG), and will begin trading under its new corporate name effective tomorrow. The Company will trade under the New York Stock Exchange ticker symbol CCIF, effective before the market opens on July 27, 2023. As part of the transaction closing, the Company will now focus on investing in equity and debt tranches of collateralized loan obligations (\"CLOs\") in order to drive potential shareholder value. \n\n \n \n \n \n \n \n\n \nIn addition, Carlyle Global Credit Investment Management L.L.C., an affiliate of Carlyle (together with their affiliates, \"Carlyle\"), was appointed as CCIF's external investment adviser, replacing Oakline Advisors, LLC, after shareholders voted to approve, among other things, a new investment advisory agreement between the Company and Carlyle at a special shareholder meeting held on June 15, 2023. The special shareholder meeting voting results were reported in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission (the \"SEC\") on June 15, 2023.\nCarlyle has been investing in the credit markets for more than 20 years and is currently one of the world's largest CLO managers. Carlyle's seasoned team of investment professionals have extensive experience investing in, managing, and structuring CLOs. In addition, CCIF is able to leverage the broad resources of Carlyle, including the 20+ research analysts who support the firm. Carlyle currently has more than $150 billion in credit assets under management across a broad range of strategies, including liquid credit, private credit, and real assets credit.\n\"CLOs have a multi-decade track record of performing throughout various credit cycles and generating attract...