Carlyle Credit Income Fund A · NYSE:CCIF
Carlyle Credit Income Fund A — Carlyle Credit Income Fund — Q1 2025 Earnings Presentation
20 slides from Carlyle Credit Income Fund A's earnings presentation, Feb 27, 2025
Slide 1: Carlyle Credit Income Fund Q1 2025 Quarterly Earnings Presentation
Carlyle Credit Income Fund (“CCIF”) Q1 2025 Quarterly Earnings Presentation February 2025 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 16.45%(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 $192 bn AUM(3) 190+ investment professionals(4) Founded: 1987 AUM: $441 bn Global $164 bn AUM 425+ investment professionals Employees: 2,300+ Private Equity Investment Professionals: 700+(2) Global Investment $85 bn AUM 105+ investment professiona
Slide 5: Carlyle Global Credit Platform
Carlyle Global Credit Platform CARLYLE GLOBAL CREDIT – $192BN AUM(1) LIQUID CREDIT PRIVATE CREDIT REAL ASSETS CREDIT ASSET-BACKED FINANCE AUM: $50.0 billion AUM: $30.4 billion AUM: $19.4 billion AUM: $7.6 billion Directly originated Carlyle managed DIRECT loans, primarily first Commercial aircraft C
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 $138.43 mm $7.66 $0.105 16.45% Monthly Closing Maturity Callable Payment Description NYSE T
Slide 7: Q1 2025 Quarterly Results
Q1 2025 (Quarter Ended 12/31/24) Quarterly Results • Net investment income was $0.26 per common share and core net investment income ("CNII") was $0.44 per common share (1) First • Cash yield was 25.15% on CLO investment quarterly payments received during the Quarter quarter. This equates to $0.70 o
Slide 8: Financial Performance Summary
Financial Performance Summary • Net investment income per share was $0.26 and CNII per share was $0.44 in Q1 2025 • 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) Q1 2025 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 Q1 2025 SUMMARY INCOME STATEMENT Total investment income $ 5,339 $ 7,301 $ 7,383 $ 7,901 $ 8,269 Total expenses (2,494) (3,345) (3,386) (3,653) (4,177) Net Investment Income $ 2,84
Slide 10: Underlying Portfolio Overview
Underlying Portfolio Overview Irradiant Partners Benefit Street Partners 1% 7% Voya Alternative Asset Management 6% Allstate Investment Management Company 6% Elmwood Asset Management CLO Equity 43% 6% Ballyrock Investment Advisors Legacy Real Estate Loan MidOcean Credit Fund Management 6% Apollo Cap
Slide 11: Portfolio Overview
Portfolio Overview Summary of Underlying Portfolio Characteristics 12/31/2024 Diversified Portfolio across 52 unique CLO investments managed by 27 different CLO Managers Number of Unique Underlying Loan Obligors 1,391 Number of Underlying Loans 1,926 Largest Exposure to an Individual Obligor 0.58% A
Slide 12: Obligor and Industry Exposures
Obligor and Industry Exposures As of December 31, 2024, CCIF has exposure to 1,391 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 0.58% High Tech 12.25% Medline 0.56
Slide 13: Investment Positions as of December 31, 2024
Investment Positions as of December 31, 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
Slide 14: Investment Positions as of December 31, 2024 (Cont'd)
Investment Positions as of December 31, 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 LOW
Slide 15: Investment Positions as of December 31, 2024 (Cont'd)
Investment Positions as of December 31, 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 LOW
Slide 16: Monthly Dividend Trend
Monthly Dividend Trend • In conjunction with earnings, CCIF has declared a dividend of $0.105 for the months of March, April, and May 2025, equating to an annualized dividend rate of 16.45% (1) • The dividend is supported by CNII of $0.44 per share and $0.70 per share of recurring cash flows for Q1
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) Q1 2025 Assets Investments, at fair value $ 177,907 Cash and cash equivalents 6,455 Interest receivable from investments 6,325 Prepaid expenses 343 Other assets 147 Total assets $ 191,177 Liabilities & Net Assets Pre
Slide 19: Quarterly Income Statement Detail
Quarterly Income Statement Detail (Dollar amounts in thousands, except per share data) Q1 2025 Investment Income Interest income $ 8,269 Total investment income $ 8,269 Expenses Interest expense $ 1,711 Incentive fee 868 Management fee 822 Professional fees 278 Other fees and expenses 498 Total expe
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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