Financial Data and Key Metrics Changes - Total investment income for Q4 2025 was $67 million, consistent with the prior quarter, as an increase in average portfolio size was offset by a decrease in total portfolio yields due to lower base rates and spreads [21] - Net investment income for Q4 was $24 million, or $0.33 per share on a GAAP basis, and $0.36 per share after adjustments [22] - The net asset value as of December 31 was $16.26 per share, down from $16.36 per share as of September 30 [12] Business Line Data and Key Metrics Changes - CGBD deployed over $1.2 billion and closed over $7 billion of commitments at the platform level in 2025, with Q4 being a record quarter for CGBD with over $400 million of investment fundings [11] - Total investments at CGBD increased from $2.4 billion to $2.5 billion during the quarter, while total investments at the MMCF joint venture increased to over $950 million [11] Market Data and Key Metrics Changes - The company reported that 94% of investments were in senior secured loans, with a median EBITDA across the portfolio of $97 million [17] - The average exposure to any single portfolio company was less than 1% of total investments, indicating strong diversification [17] Company Strategy and Development Direction - The core investment strategy remains focused on stable, high-quality credits in the core and upper middle market, with an emphasis on enhancing origination capabilities [10] - The formation of a new joint venture, Structured Credit Partners, aims to increase diversification and portfolio yield, focusing on broadly syndicated first lien, senior secured loans [18] Management's Comments on Operating Environment and Future Outlook - Management expects earnings to trough in the first half of 2026 due to base rate cuts, with an anticipated increase in earnings thereafter as portfolios ramp up [23] - The company remains confident in the quality and stability of its portfolio despite market volatility, particularly in the software sector, which has shown exemplary performance with no defaults over the last five years [12][13] Other Important Information - The board declared a first-quarter 2026 dividend of $0.40 per share, with an estimated $0.74 per share of spillover income to support the dividend [22] - The company repurchased $14 million of shares at an average discount of nearly 23% during Q4, resulting in $0.06 of accretion to NAV per share [23] Q&A Session Summary Question: Who will the company take market share from? - The company plans to focus on high-quality companies in the core and upper middle market, leveraging its strong credit culture and industry expertise [33] Question: What is driving borrowing demand and contributing to the strong pipeline flow? - The company is seeing a consistent flow of opportunities in the middle market, with increased activity in sectors like industrials and healthcare [36] Question: What is the rationale for the SCP joint venture? - The SCP joint venture aims to maximize the utilization of non-qualifying asset buckets and leverage the broader Carlyle network for strong expected returns [39] Question: How significant is interest expense in borrowers' overall expense load? - Interest coverage ratios are improving, and borrowers are taking a more conservative approach to leverage, which is beneficial for credit quality [56][58] Question: Is the best incremental dollar the next investment or repurchasing stock? - The company believes in a balanced approach, continuing share repurchases while also investing in joint ventures that are expected to be accretive [61]

A n I n te r n a ti o n a l A l t e r n a t i v e A s s e t M a n a g e r FOURTH QUARTER 2025 INVESTOR PRESENTATION TRINITYCAPITAL.COM NASDAQ: TRIN FORWARD-LOOKING STATEMENTS | DISCLAIMER Trinity Capital Inc. (the "Company") cautions that this presentation may contain forward-looking statements that are based on current expectations and assumptions about future events, and which are not based in historical fact. The forward-looking statements in this presentation are based on current conditions as of the da ...

Carlyle Secured Lending, Inc. Quarterly Earnings Presentation December 31, 2025 1 Disclaimer and Forward-Looking Statement This presentation (the "Presentation") has been prepared by Carlyle Secured Lending, Inc. (together with its consolidated subsidiaries, "we," "us," "our," "CGBD" or the "Company") (NASDAQ: CGBD) and may only be used for informational purposes only. This Presentation should be viewed in conjunction with the earnings conference call of the Company held on February 25, 2026 and the Company ...

A couple of years ago, private credit and especially BDCs ( BIZD ) were relatively unknown and not something that got frequently discussed in the media. It was mostly an institutional asset management base that transacted in the private credit field, primarily toRoberts Berzins has over a decade of experience in the financial management helping top-tier corporates shape their financial strategies and execute large-scale financings. He has also made significant efforts to institutionalize REIT framework in L ...

Carlyle Secured Lending Inc. ( CGBD ) has been among those few business development companies, or BDCs, tactical investment picks where I have missed the mark. Back in April 2024, I issued my first bullishRoberts Berzins has over a decade of experience in the financial management helping top-tier corporates shape their financial strategies and execute large-scale financings. He has also made significant efforts to institutionalize REIT framework in Latvia to boost the liquidity of pan-Baltic capital markets ...

Robbins LLP Urges TCPC Investors With Larges Losses in BlackRock TCP Capital Corp. to Contact the Firm for Information About the Class Action Lawsuit[Accessibility Statement] [Skip Navigation]SAN DIEGO, Feb. 24, 2026 /PRNewswire/ -- [Robbins LLP] reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired BlackRock TCP Capital Corp. (NASDAQ: [TCPC]) securities between November 6, 2024 and January 23, 2026. BlackRock TCP is a business development company ...

Gladstone Investment ( GAIN ) is paying out a modest base dividend yield that's not fully covered, with the commons largely spared from the SaaSpocalypse-related selloff in private credit tickers with a more significant credit allocation to software companies. The BDC is flatThe equity market is a powerful mechanism as daily fluctuations in price get aggregated to incredible wealth creation or destruction over the long term. Pacifica Yield aims to pursue long-term wealth creation with a focus on undervalued ...

Group 1 - A selloff in the software sector is impacting Business Development Companies (BDCs) and alternative asset managers, indicating a shift in investor sentiment towards private-credit exposure and redemption risk [1]

The S&P 500 currently has a rather pedestrian dividend yield of around 1.1%. That's near its record low. As a result, you'd only generate about $34 of annual passive income by investing $3,000 into an S&P 500 index fund. Several companies offer dividend yields well above the market average. That enables you to generate a lot more income from the same investment. For example, investing $3,000 into the following three ultra-high-yielding dividend stocks would produce hundreds of dollars in passive income eac ...

Core Insights - The article emphasizes the importance of a hybrid investment strategy that combines classic dividend growth stocks with Business Development Companies, REITs, and Closed End Funds to enhance investment income while achieving total returns comparable to traditional index funds [1]. Investment Strategy - The company advocates for a diversified approach to investing, suggesting that a solid base of dividend growth stocks can be complemented by other asset types to create a balanced portfolio [1]. - The strategy aims to boost investment income significantly while maintaining a total return that aligns with the performance of the S&P index [1].