VCIF enters deal with Carlyle: new adviser, CLO strategy, $10M shareholder payment

Carlyle Credit Income Fund

Carlyle Global Credit to replace Oakline as VCIF's investment adviser; fund to invest primarily in CLO debt/equity tranches.
VCIF shareholders receive $10M special payment (~$0.96/share); Carlyle to tender up to $25M shares at NAV.
All current trustees and officers to be replaced; five new trustees nominated (Garbin, Handa, McCabe, Marcus, Basmadjian).
Closing requires shareholder approval of advisory agreement, non-diversified status, amended charter, and liquidation of 95% of existing assets.
Carlyle affiliate to invest up to $25M in new shares at NAV; transaction expected to close after shareholder vote.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Carlyle Credit Income Fund entered into Transaction Agreement with Carlyle Global Credit Investment Management, L.L.C. (effective 2023-01-12).

Action: entry
Counterparty: Carlyle Global Credit Investment Management, L.L.C.
Effective: 2023-01-12

Exact text from the filing

On January 12, 2023, Vertical Capital Income Fund (the “Fund”) entered into a definitive agreement (the "Transaction Agreement") with Carlyle Global Credit Investment Management, L.L.C. ("CGCIM")

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Carlyle Credit Income Fund filing history →

Source: SEC EDGAR

accession 0001580642-23-000214

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