Carlyle Secured Lending(US:CGBD)2021-11-03 19:49Financial Performance - Net investment income was $039 per common share, exceeding the quarterly base dividend of $032[22] - Net realized/unrealized gains of $26 million, or $048 per share[22] - NAV per common share increased 32% to $1665 at 3Q21, from $1614 at 2Q21[22] - Paid 3Q21 base dividend of $032 plus a supplemental dividend of $006 per share, resulting in a LTM dividend yield of 88% based on quarter-end NAV[22] - Share repurchases in 3Q21 totaled 05 million shares for $68 million, contributing $002 per share of accretion to net asset value[22] Portfolio and Investment Activity - Total investments at fair value of $19 billion at 3Q21, up 41% compared to 2Q21[22] - New investment activity of $273 million with a weighted average yield on debt investments of 80%[22] - Repayments of $135 million and strategic sales of $88 million, with a combined weighted average yield on debt investments of 76%[22] Portfolio Composition - Top 10 borrowers represent 20% of exposure[20,25] - Top 3 industries represent 29% of exposure[20] - First lien debt accounts for 66% of the asset mix[25] - Investment funds account for 14% of the asset mix[25,89] - Floating rate investments constitute 985% of the portfolio[24] Credit Fund Performance - Credit Fund has total investments at fair value of $1078 million with a yield of 61%[90] - Credit Fund II has total investments at fair value of $244 million with a yield of 73%[91]