SCHEDULE 13D/A: Eagle Point Credit Management Amends Carlyle Credit Income Fund Stake, Discloses Recent Sales

Eagle Point Credit Management LLC has filed an Amendment No. 9 to its Schedule 13D, revealing a beneficial ownership of 22.94% of Carlyle Credit Income Fund's Preferred Shares after a series of recent sales.

Summary

• Eagle Point Credit Management LLC (EPCM) beneficially owns 483,602 Preferred Shares of Carlyle Credit Income Fund, representing approximately 22.94% of the outstanding preferred shares.
• EPCM, a registered investment adviser, holds these shares for investment purposes on behalf of certain private funds and separately managed accounts.
• The funds used for these acquisitions came from the respective Accounts' available investment capital.
• Since the last amendment on May 12, 2025, EPCM's Accounts engaged in multiple secondary market sales of Preferred Shares, with prices ranging from $25.35 to $25.65 per share.
• EPCM retains discretionary investment authority and voting power over the Preferred Shares held by the Accounts.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to the disclosed sales of preferred shares, indicating a reduction in the reporting person's stake, although the overall beneficial ownership remains significant.

Positives

• Eagle Point Credit Management LLC maintains a significant beneficial ownership of 22.94% in Carlyle Credit Income Fund's Preferred Shares, indicating continued investment interest.

Negatives

• Eagle Point Credit Management LLC's accounts engaged in multiple sales of Carlyle Credit Income Fund Preferred Shares between May 12, 2025, and May 22, 2025, reducing their overall beneficial ownership from the previous filing.

Risks

• Eagle Point Credit Management LLC reserves the right to increase or decrease its ownership of the Preferred Shares over time, which could impact market liquidity or price.

Future Outlook

Eagle Point Credit Management LLC states that it will continue to analyze its investment in Carlyle Credit Income Fund's Preferred Shares on an ongoing basis and reserves the right to adjust its ownership position over time.

Management Comments

• "EPCM caused the Accounts to acquire the Preferred Shares they hold for investment purposes and will continue to analyze such investments on an ongoing basis."
• "EPCM, on behalf of the Accounts, reserves the right to increase or decrease the Accounts' ownership of the Preferred Shares over time."

Industry Context

This filing reflects a routine disclosure of a significant investor's stake and recent trading activity in a closed-end fund's preferred shares. Such disclosures are common in the investment management industry, particularly for active managers like Eagle Point Credit Management, who frequently adjust portfolio positions based on market conditions and investment strategies.

Stakeholder Impact

• Shareholders: The sales by a significant holder like Eagle Point Credit Management could signal a shift in institutional sentiment, potentially influencing other investors' perceptions of the Preferred Shares.

Next Steps

• Eagle Point Credit Management LLC will continue to analyze its investment in Carlyle Credit Income Fund's Preferred Shares.
• Eagle Point Credit Management LLC reserves the right to increase or decrease its ownership of the Preferred Shares in the future.

Key Dates

Recommendation

Keywords

Carlyle Credit Income Fund, Preferred Shares, Eagle Point Credit Management, SEC Filing, Schedule 13D, Beneficial Ownership, Investment Adviser, Fund Management, Share Sales