NEW YORK, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Carlyle Credit Income Fund (the "Fund") (NYSE: CCIF), an externally managed closed-end fund focused on investing in primarily equity and junior debt tranches of collateralized loan obligations, has entered into a Purchase Agreement with certain institutional investors for the purchase and sale of approximately 11,517 shares of the Fund's 7.125% Series B Convertible Preferred Shares due August 2029 (the "Convertible Preferred Shares"), liquidation preference $1,000 ...

NEW YORK, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Carlyle Credit Income Fund ("we," "us," "our," "CCIF" or the "Fund") (NYSE: CCIF) today announced its financial results for its third quarter ending June 30, 2024. The full detailed presentation of the Fund's third quarter 2024 financial results can be viewed on the Fund's website carlylecreditincomefund.com/investor-dashboard. Lauren Basmadjian, CCIF's Chief Executive Officer said, "We are pleased with our progress and accomplishments during our first year as CCI ...

. Date of Issue No. of SharesDeemed Price per Share January 4, 2023 31,199 $0.168 February 7, 2023 7,789 $0.213 March 9, 2023 11,111 $0.15 April 10, 2023 16,460 $0.101 May 12, 2023 17,777 $0.093 June 9, 2023 24,691 $0.067 July 10, 2023 29,629 $0.067 August 10, 2023 35,087 $0.071 September 7, 2023 27,777 $0.09 October 10, 2023 18,018 $0.138 ● ● Carlyle Closes Unit Offering and Announces Share Issuances to Consultant August 19, 2024 6:30 PM EDT | Source: Carlyle Commodities Corp. Vancouver, British Columbia-- ...

The Carlyle Group Inc. (CG) has delayed the closing of its latest pan-Asian buyout fund. According to Bloomberg, this delay occurred as investors were increasingly directing their interest and capital into other Japan-focused funds. CG has sought an extension to finalize its sixth regional buyout fund, which was launched more than two years ago and has only managed to secure $3 billion in commitments below its initial target of $8.5 billion. Typically, raising such funds takes around 18 months. The slower-t ...

MCLEAN, Va., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Acentra Health, a technology and health solutions and services company dedicated to helping government healthcare agencies accelerate better outcomes for their priority populations, has been named to the Washington Business Journal's "Fastest Growing Companies" list, which highlights private companies in the Washington, D.C., metropolitan area with the highest three-year sustained revenue growth. The company's inclusion on the list is a result of its strategic ...

BsWei/iStock via Getty Images As a recent retiree who seeks passive income from my investments to help support my lifestyle while I no longer receive a steady paycheck, I look for strong performing CEFs (closed-end funds) that pay monthly high-yield distributions. There are many advantages to investing in CEFs. These include the ability to buy the funds discounted to NAV, the ability of fund managers to use leverage to boost the distribution, and the ability to grow the fund's share count (and potentially t ...

On Tuesday, Baxter International Inc BAX agreed to sell its Kidney Care segment, Vantive, for $3.8 billion to The Carlyle Group Inc CG Baxter will receive approximately $3.5 billion in cash, with net after-tax proceeds currently estimated at approximately $3 billion. Baxter announced its intention to create a standalone kidney care company in January 2023 as part of its broader strategic realignment designed to enhance future performance and create value for all stakeholders. In March 2024, Baxter announced ...

The Carlyle Group Inc. (CG) reported second-quarter 2024 post-tax distributable earnings per share of 78 cents, which missed the Zacks Consensus Estimate of 84 cents. The bottom line compared unfavorably with 88 cents reported in the year-ago quarter. Results were affected due to a decrease in segment fee and realized performance revenues. However, a rise in assets under management (AUM) balance and lower expenses offered some support. The company's shares lost 7.5% following the release of its second-quart ...

The Carlyle Group CG reported worse-than-expected second-quarter financial results on Monday. Carlyle reported that in the second quarter of FY24, the adjusted EPS of $0.78 missed the consensus of $0.83, and Total Segment revenues of $788.0 million missed the consensus of $827.5 million. The company inked a deal to sell Cogentrix Energy to Quantum Capital Group and its affiliates for around $3 billion. The Cogentrix platform includes 5.3 gigawatts of efficient natural gas-fired power plants across PJM, ERCO ...

Financial Data and Key Metrics - Record FRE of $539 million for the first half of 2024, up 35% YoY [11] - Record FRE margins achieved in the first half of 2024 [5] - Record AUM of $435 billion in Q2 2024, up 13% YoY [10] - DE per share of $1.79 year-to-date, up 19% YoY [10] - Share repurchases of $330 million in the first half of 2024, with $1.1 billion remaining in the repurchase authorization [10] Business Line Data and Key Metrics - Global Credit: Raised $5 billion in Q2 2024, with strong activity in opportunistic and real asset credit strategies [7] - CLO business: Second busiest first six months in 20-year history, ended Q2 as the world's largest CLO manager [8] - Global Investment Solutions: Deployed $9 billion and raised $12 million over the last 12 months [8] - Global Wealth: CTAC private credit product had a strong first half, and CAPM wealth product added to new distribution platforms [8] Market Data and Key Metrics - Asset-backed finance: Announced a $10 billion transaction to acquire a portfolio of loans from Discover Financial Services [5] - Exit activity: Sale of Cogentrix Energy at a valuation of nearly $3 billion, with a considerable pipeline of active IPO and sale processes [6] - Fundraising: Raised $18 billion year-to-date and over $40 billion in the last 12 months, targeting $40 billion for 2024 [7][12] Company Strategy and Industry Competition - Focus on asset-backed finance, credit, and insurance businesses to drive value for clients and generate transaction fees [6] - Optimistic about the investment environment, with increased activity levels and robust competition in exit paths [13] - Strategic focus on transaction and advisory fees, with a 60% YoY increase in Q2 2024 [11] Management Commentary on Operating Environment and Future Outlook - Despite recent market volatility, underlying fundamentals support improving activity across the platform for the rest of the year [5] - Expectation of increased exit activity in the second half of 2024, with several large transactions in the pipeline [6] - Confidence in achieving the $40 billion fundraising target for 2024, with strong momentum across all segments [12] Other Important Information - Non-GAAP financial measures used during the call, with reconciliation to GAAP provided in the earnings release [3] - Forward-looking statements made with inherent risks and uncertainties, as identified in the Risk Factors section of the annual report [4] Q&A Session Summary Question: Market sentiment and capital-raising outlook for PE - Management views recent market volatility as liquidity-driven and risk sentiment-driven, with no change in the underlying economic fundamentals [15] - Confidence in the fundraising outlook, with strong momentum across the platform and multiple product strategies in the market [18] Question: Fundraising in real estate and key contributors - Strong momentum in real estate fundraising, with a number materially higher than disclosed in the earnings release [12] - Expectation of continued strength in Solutions business, credit opportunities fund, and CLO activity [18] Question: Outlook for fundraising in CEP VI and CAP VI - CAP VI expected to be smaller than its predecessor due to geopolitical headwinds, but Asia remains an important market with attractive opportunities [19] Question: Transaction advisory fees outlook - Transaction and advisory fees up 60% YoY, with a record year expected driven by a conducive transaction environment [21] Question: Deployment outlook and impact of risk-off sentiment - Long-term investment focus, with a strong pipeline of transaction activity expected in the second half of 2024 [24] - $20 billion of pending fee-earning AUM expected to turn on over the coming quarters [24] Question: FRE comp ratio and baseline expectations - FRE comp ratio in the 30% to 35% range, with expectations to operate within this range plus or minus 1% to 2% [28] Question: Merger of BDCs and direct lending strategy - Merger of public and private BDCs expected to close in Q1 2025, providing scale and financial benefits [30] Question: Management fees outlook in Global Private Equity - Expectation of flattish management fees in Global Private Equity, with strength in real estate and other parts of the business [32] Question: Progress in the retail channel and PE product design - Strong momentum in retail-focused products, with a focus on scale and long-term performance [34] Question: Capital allocation and strategic M&A - Active share repurchases with $1.1 billion remaining, and openness to strategic M&A if it aligns with growth and shareholder returns [37] Question: Contribution from Fortitude and insurance initiatives - Fortitude partnership performing well, with a focus on private investment grade and capital-light growth opportunities [41] Question: Stock-based comp modeling - Elevated stock-based comp in 2024 due to performance stock unit grants, with a step down expected in 2025 [44]