Carlyle Credit Income Fund — Cyborg Score 6/10

Solid
Closed-End Funds / Credit & Income Funds

Strategic Profile

As a prominent player in the CLO market (both as a CLO manager and CLO investor), Carlyle's market presence facilitates access to a wide range of market opportunities. Carlyle intends to source investment opportunities from the broad network of dealer, investor, and manager relationships that it has developed during its 25-year history in the CLO market. CCIF utilizes a rigorous and systematic underwriting and due diligence process that has been refined over Carlyle's long history of investing in and managing CLOs, and incorporates a fundamental value, bottom-up research approach.

Cyborg Score Rationale

CCIF operates within the niche closed-end fund space with solid strategic positioning tied to Carlyle's extensive CLO market expertise. The fund's portfolio composition (96%+ first-lien loans as of November 2025) reflects conservative positioning, though closed-end fund structures and CLO concentration carry inherent risks. Monthly dividend distributions and a 23.82% dividend rate (as of October 2025) appeal to income-focused investors, though performance depends heavily on credit cycle conditions.

Top Insights

  • Fund is launched and managed by Vertical Capital Asset Management, LLC and co-managed by Behringer Advisors, LLC
  • As of October 2025, portfolio composition was 96.63% first-lien loans with weighted average B credit rating and 3.09% yield
  • Monthly dividend announcements with $0.06 cash dividend with ex-date of June 17, 2026
  • Fund was formed on December 30, 2011 and is domiciled in the United States

Named Competitors

  • Golub Capital BDC — Business development company focused on middle-market lending
  • Blackstone Loan Financing — Credit and lending-focused closed-end fund platform
  • CCLX — Alternatives income vehicle in direct lending space

Recent Developments

  • (November 2025) Announced Q4 and full year 2025 financial results with continued focus on positioning for long-term success
  • (October 2025) Portfolio maintained 96.63% allocation to first-lien loans with B-rated weighted average credit quality
  • (June 2026) Monthly dividend of $0.06 per share declared with ex-date of June 17, 2026

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