Carlyle Credit Income Fund A · NYSE:CCIF
Carlyle Credit Income Fund A — Carlyle Credit Income Fund — Q2 2024 Earnings Presentation
18 slides from Carlyle Credit Income Fund A's earnings presentation, May 30, 2024
Slide 1: Carlyle Credit Income Fund Q2 2024 Quarterly Earnings Presentation
Carlyle Credit Income Fund (“CCIF”) Q2 2024 Quarterly Earnings Presentation May 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 $186 bn AUM(3) 200+ investment professionals(4) Founded: 1987 AUM: $425 bn Global $159 bn AUM 400+ investment professionals Employees: 2,200+ Private Equity Investment Professionals: 700+(2) Global Investment $80 bn AUM 90+ investment professional
Slide 5: Carlyle Global Credit Platform
Carlyle Global Credit Platform CARLYLE GLOBAL CREDIT – $186BN AUM(1) LIQUID CREDIT PRIVATE CREDIT REAL ASSETS CREDIT PLATFORM INITIATIVES AUM: $51.3 billion AUM: $25.8 billion AUM: $17.0 billion AUM: $92.2 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 $101.20 mm $7.90 $0.105 15.95% Monthly Closing Maturity Callable Payment Description NYSE Ticker
Slide 7: Q2 2024 (Quarter Ended 3/31/24) Quarterly Results
Q2 2024 (Quarter Ended 3/31/24) Quarterly Results • Net investment income was $0.33 per common share, an increase from net investment income of $0.24 per common share in Q1 2024 Second • NAV per share was $7.88 as of March 31, 2024 Quarter • We paid dividends of $0.30 per common share for the quarte
Slide 8: Financial Performance Summary
Financial Performance Summary • Net Investment Income exceeded the quarterly dividend paid of $0.304 • Recurring cash flows per share increased to $0.64 in Q2 2024 from $0.50 per share in Q1 2024 as we continued to deploy proceeds from the preferred issuance and our ATM offerings (Dollar amounts in
Slide 9: Quarterly Operating Results Detail
Quarterly Operating Results Detail (Dollar amounts in thousands, except per share data) Q2 2024 Q1 2024 SUMMARY INCOME STATEMENT Total investment income $ 7,301 $ 5,339 Total expenses (3,345) (2,494) Net Investment Income $ 3,956 $ 2,845 Net realized and change in unrealized gains (losses) (1,605) (
Slide 10: Underlying Portfolio Overview
Underlying Portfolio Overview Voya Alternative Asset Management 1% KKR Financial 2% 7% Ares 7% MidOcean Credit Fund Management 6% CLO Equity Neuberger Berman 40% CLO Debt 6% Allstate Investment Management Company Other Elmwood Asset Management 6% Benefit Street Partners 6% Credit Suisse 5% 6% 5% 6%
Slide 11: Portfolio Overview
Portfolio Overview Summary of Underlying Portfolio Characteristics 3/31/2024 Diversified Portfolio across 41 unique CLO investments managed by 24 different CLO Managers Number of Unique Underlying Loan Obligors 1,554 Largest Exposure to an Individual Obligor 0.56% Average Individual Loan Obligor Exp
Slide 12: Obligor and Industry Exposures
Obligor and Industry Exposures As of March 31, 2024, CCIF has exposure to 1,554 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 0.56% High Tech 12.80% Altice France 0.53% Healt
Slide 13: Investment Positions as of March 31, 2024
Investment Positions as of March 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 FA
Slide 14: Investment Positions as of March 31, 2024 (continued)
Investment Positions as of March 31, 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 LOW
Slide 15: Monthly Dividend Trend
Monthly Dividend Trend • In conjunction with earnings, the Fund has declared a dividend of $0.105 for the months of June, July and August 2024 equating to a 15.95% annualized dividend based on our share price as of May 28, 2024 • We expect CCIF's Net Investment Income will continue to exceed the qua
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) Q2 2024 Assets Investments, at fair value $ 142,100 Cash and cash equivalents 2,410 Interest receivable from investments 5,642 Prepaid expenses 379 Other assets 72 Total assets $ 150,603 Liabilities & Net Assets Pref
Slide 18: Quarterly Income Statement Detail
Quarterly Income Statement Detail (Dollar amounts in thousands, except per share data) Q2 2024 Investment Income Interest income $ 7,301 Total investment income $ 7,301 Expenses Interest expense $ 1,229 Management fee 647 Incentive fee 839 Professional fees 386 Other fees and expenses 244 Total expe
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