Carlyle Credit Income Fund A · NYSE:CCIF
Carlyle Credit Income Fund A — Carlyle Credit Income Fund — Q4 2024 Earnings Presentation
20 slides from Carlyle Credit Income Fund A's earnings presentation, Nov 21, 2024
Slide 1: Carlyle Credit Income Fund Q4 2024 Quarterly Earnings Presentation
Carlyle Credit Income Fund (“CCIF”) Q4 2024 Quarterly Earnings Presentation November 2024 1
Slide 2: Important Information
Important Information This presentation (the “Presentation”) has been prepared by Carlyle Credit Income Fund. (together with its consolidated subsidiaries, “we,” “us,” “our,” “CCIF” or the “Company”) (NYSE: CCIF) and may only be used for informational purposes only. This Presentation should be viewe
Slide 3: Fund Overview
Fund Overview Diversified Leadership 15.16%(1) PRIMARILY INVESTING IN EQUITY AND CARLYLE TOOK OVER AS THE JUNIOR DEBT TRANCHES OF MONTHLY DIVIDEND THAT IS Carlyle Credit Income COLLATERALIZED LOAN INVESTMENT ADVISER OF CCIF ON DECLARED QUARTERLY JULY 14, 2023 Fund (“CCIF”) Overview OBLIGATIONS (CLOs
Slide 4: Carlyle Firm Overview
Carlyle Firm Overview(1) Firm Overview Global Credit $194 bn AUM(3) 200+ investment professionals(4) Founded: 1987 AUM: $447 bn Global $169 bn AUM 400+ investment professionals Employees: 2,300+ Private Equity Investment Professionals: 700+(2) Global Investment $84 bn AUM 90+ investment professional
Slide 5: Carlyle Global Credit Platform
Carlyle Global Credit Platform CARLYLE GLOBAL CREDIT – $194BN AUM(1) LIQUID CREDIT PRIVATE CREDIT REAL ASSETS CREDIT PLATFORM INITIATIVES AUM: $49.9 billion AUM: $28.3 billion AUM: $18.6 billion AUM: $14.5 billion Closed-end Carlyle managed Commercial Interval fund Directly originated CARLYLE invest
Slide 6: Securities Overview
Securities Overview Overview of Common and Listed Preferred Shares Current Dividend Current Dividend Payment Description NYSE Ticker Market Cap (1) Closing Price (1) Rate Rate (2) Frequency Common Shares CCIF $133.66 mm $8.31 $0.105 15.16% Monthly Closing Maturity Callable Payment Description NYSE T
Slide 7: Q4 2024 (Quarter Ended 9/30/24) Quarterly Results
Q4 2024 (Quarter Ended 9/30/24) Quarterly Results • Net investment income was $0.30 per common share and core net investment income ("CNII") was $0.45 per common share (1) • Cash yield was 27.91% on CLO investment quarterly payments received during the quarter. This equates to $0.70 of recurring cas
Slide 8: Financial Performance Summary
Financial Performance Summary • Net investment income per share was $0.30 and CNII per share was $0.45 in Q4 2024 • The quarterly dividend of $0.315 was supported by $0.70 in recurring cash flows (Dollar amounts in thousands, except per share data and common shares outstanding) Q4 2024 Per Share Dat
Slide 9: Quarterly Operating Results Detail
Quarterly Operating Results Detail (Dollar amounts in thousands, except per share data) Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 SUMMARY INCOME STATEMENT Total investment income $ 5,339 $ 7,301 $ 7,383 $ 7,901 $ 27,924 Total expenses (2,494) (3,345) (3,386) (3,653) (12,878) Net Investment Income $ 2,
Slide 10: Underlying Portfolio Overview
Underlying Portfolio Overview Elmwood Asset Management Allstate Investment Management Company 1% 7% Ballyrock Investment Advisors 6% Irradiant Partners 6% Voya Alternative Asset Management CLO Equity 44% 6% Apollo Capital Management Legacy Real Estate Loan 6% KKR Financial 5% Onex Credit Partners 5%
Slide 11: Portfolio Overview
Portfolio Overview Summary of Underlying Portfolio Characteristics 9/30/2024 Diversified Portfolio across 49 unique CLO investments managed by 27 different CLO Managers Number of Unique Underlying Loan Obligors 1,367 Number of Underlying Loans 1,916 Largest Exposure to an Individual Obligor 0.61% Av
Slide 12: Obligor and Industry Exposures
Obligor and Industry Exposures As of September 30, 2024, CCIF has exposure to 1,367 unique loan obligors across a range of industries Obligor and Industry Exposure Top 10 Underlying Obligors % Total (1) Top 10 Industries of Underlying Obligors % Total (1) TransDigm 0.61% High Tech 12.53% Asurion 0.5
Slide 13: Investment Positions as of September 30, 2024
Investment Positions as of September 30, 2024 YEARS YEARS % OF WEIGHTED WEIGHTED MARKET REMAINING IN REMAINING HOLDINGS JUNIOR OC SENIOR AAA AVERAGE AVERAGE DIVERSITY CLO INVESTMENT VINTAGE VALUE (1) REINVESTMENT IN NON-CALL CCC+ OR CUSHION SPREAD PORTFOLIO RATING SCORE (3) PERIOD PERIOD LOWER SPREA
Slide 14: Investment Positions as of September 30, 2024 (Cont'd)
Investment Positions as of September 30, 2024 (Cont'd) YEARS YEARS % OF WEIGHTED WEIGHTED MARKET REMAINING IN REMAINING HOLDINGS JUNIOR OC SENIOR AAA AVERAGE AVERAGE DIVERSITY CLO INVESTMENT VINTAGE VALUE (1) REINVESTMENT IN NON-CALL CCC+ OR CUSHION SPREAD PORTFOLIO RATING SCORE (3) PERIOD PERIOD LO
Slide 15: Investment Positions as of September 30, 2024 (Cont'd)
Investment Positions as of September 30, 2024 (Cont'd) YEARS YEARS % OF WEIGHTED WEIGHTED MARKET REMAINING IN REMAINING HOLDINGS JUNIOR OC SENIOR AAA AVERAGE AVERAGE DIVERSITY CLO INVESTMENT VINTAGE VALUE (1) REINVESTMENT IN NON-CALL CCC+ OR CUSHION SPREAD PORTFOLIO RATING SCORE (3) PERIOD PERIOD LO
Slide 16: Monthly Dividend Trend
Monthly Dividend Trend • In conjunction with earnings, CCIF has declared a dividend of $0.105 for the months of December 2024, and January and February 2025, equating to an annualized dividend rate of 15.16% (1) • The dividend is supported by CNII of $0.45 per share and $0.70 of recurring cash flows
Slide 17: Appendix
CARLYLE CREDIT INCOME FUND Appendix
Slide 18: Quarterly Balance Sheet Detail
Quarterly Balance Sheet Detail (Dollar amounts in thousands, except per share data) Q4 2024 Assets Investments, at fair value $ 173,454 Cash and cash equivalents 725 Interest receivable from investments 6,039 Prepaid expenses 458 Other assets 119 Total assets $ 180,795 Liabilities & Net Assets Prefe
Slide 19: Quarterly Income Statement Detail
Quarterly Income Statement Detail (Dollar amounts in thousands, except per share data) Q4 2024 FY 2024 Investment Income Interest income $ 7,901 $ 27,924 Total investment income $ 7,901 $ 27,924 Expenses Interest expense $ 1,418 $ 4,631 Management fee 759 2,685 Incentive fee 901 3,191 Professional f
Slide 20: Reconciliation of Core Net Investment Income
Reconciliation of Core Net Investment Income We provide information relating to core net investment income (“CNII”), a non-GAAP measure, on a supplemental basis. This measure is not provided as a substitute for GAAP net investment income (“GAAP NII”), but in addition to it. Our non-GAAP measures may
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