Carlyle Credit Income Fund A · NYSE:CCIF
Carlyle Credit Income Fund A — Carlyle Credit Income Fund — Q3 2024 Earnings Presentation
18 slides from Carlyle Credit Income Fund A's earnings presentation, August 2024
Slide 1: Carlyle Credit Income Fund (CCIF) Q3 2024 Quarterly Earnings Presentation
Carlyle Credit Income Fund (“CCIF”) Q3 2024 Quarterly Earnings Presentation August 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 and Adviser Overview
Fund and Adviser Overview • Carlyle Credit Income Fund (NYSE: CCIF) focuses on primarily investing in equity and junior debt tranches of collateralized loan obligations ("CLOs") • Carlyle Global Credit Investment Management ("Carlyle" or "CGCIM") took over as the CCIF investment adviser of CCIF on J
Slide 4: Carlyle Firm Overview
Carlyle Firm Overview(1) Firm Overview Global Credit $190 bn AUM(3) 200+ investment professionals(4) Founded: 1987 AUM: $435 bn Global $164 bn AUM 400+ investment professionals Employees: 2,200+ Private Equity Investment Professionals: 700+(2) Global Investment $81 bn AUM 90+ investment professional
Slide 5: Carlyle Global Credit Platform
Carlyle Global Credit Platform CARLYLE GLOBAL CREDIT – $190BN AUM(1) LIQUID CREDIT PRIVATE CREDIT REAL ASSETS CREDIT PLATFORM INITIATIVES AUM: $51.6 billion AUM: $27.1 billion AUM: $18.4 billion AUM: $13.4 billion Closed-end Carlyle managed Commercial Interval fund Directly originated CARLYLE invest
Slide 6: Securities Overview
Securities Overview Overview of Common and Preferred Shares Current Dividend Current Dividend Payment Description NYSE Ticker Market Cap (1) Closing Price (1) Rate Yield (2) Frequency Common Shares CCIF $118.40 mm $8.51 $0.105 14.81% Monthly Closing Maturity Callable Payment Description NYSE Ticker
Slide 7: Q3 2024 (Quarter Ended 6/30/24) Quarterly Results
Q3 2024 (Quarter Ended 6/30/24) Quarterly Results • Net investment income was $0.32 per common share, a slight decline from net investment income of $0.33 per common share in Q2 2024 Third Quarter • NAV per share was $7.68 as of June 30, 2024 Results • We paid dividends of $0.315 per common share fo
Slide 8: Financial Performance Summary
Financial Performance Summary • Net Investment Income exceeded the quarterly dividend paid of $0.315 • Recurring cash flows per share increased to $0.81 in Q3 2024 from $0.64 per share in Q2 2024 as we continue to deploy proceeds from our ATM offerings (Dollar amounts in thousands, except per share
Slide 9: Quarterly Operating Results Detail
Quarterly Operating Results Detail (Dollar amounts in thousands, except per share data) Q3 2024 Q2 2024 Q1 2024 SUMMARY INCOME STATEMENT Total investment income $ 7,383 $ 7,301 $ 5,339 Total expenses (3,386) (3,345) (2,494) Net Investment Income $ 3,997 $ 3,956 $ 2,845 Net realized and change in unr
Slide 10: Underlying Portfolio Overview
Underlying Portfolio Overview Allstate Investment Management Company Voya Alternative Asset Management 2% 8% KKR Financial 7% Ares 39% 7% MidOcean Credit Fund Management CLO Equity Neuberger Berman 6% Other Benefit Street Partners 6% Apollo Capital Management 6% Credit Suisse 5% 5% 5% 5% 98% Ballyro
Slide 11: Portfolio Overview
Portfolio Overview Summary of Underlying Portfolio Characteristics 6/30/2024 Diversified Portfolio across 41 unique CLO investments managed by 24 different CLO Managers Number of Unique Underlying Loan Obligors 1,354 Number of Underlying Loans 1,912 Largest Exposure to an Individual Obligor 0.60% Av
Slide 12: Obligor and Industry Exposures
Obligor and Industry Exposures As of June 30, 2024, CCIF has exposure to 1,354 unique loan obligors across a range of industries Obligor and Industry Exposure Top 10 Underlying Obligors % Total Top 10 Industries of Underlying Obligors % Total Asurion 0.60% High Tech 12.67% Caesars Entertainment 0.52
Slide 13: Investment Positions as of June 30, 2024
Investment Positions as of June 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 SPREAD FAC
Slide 14: Investment Positions as of June 30, 2024 (continued)
Investment Positions as of June 30, 2024 (continued) 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 LOWE
Slide 15: Monthly Dividend Trend
Monthly Dividend Trend • In conjunction with earnings, CCIF has declared a dividend of $0.105 for the months of September, October and November 2024 equating to a 14.81% annualized dividend based on our share price as of August 20, 2024 • The dividend is supported by approximately $0.77 of recurring
Slide 16: Appendix
CARLYLE CREDIT INCOME FUND Appendix
Slide 17: Quarterly Balance Sheet Detail
Quarterly Balance Sheet Detail (Dollar amounts in thousands, except per share data) Q3 2024 Assets Investments, at fair value $ 138,001 Cash and cash equivalents 8,014 Interest receivable from investments 5,839 Prepaid expenses 311 Other assets 201 Total assets $ 152,366 Liabilities & Net Assets Pre
Slide 18: Quarterly Income Statement Detail
Quarterly Income Statement Detail (Dollar amounts in thousands, except per share data) Q3 2024 Investment Income Interest income $ 7,383 Total investment income $ 7,383 Expenses Interest expense $ 1,249 Management fee 664 Incentive fee 848 Professional fees 360 Other fees and expenses 265 Total expe
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