SCHEDULE 13D/A: Eagle Point Credit Management Maintains Significant Stake in Carlyle Credit Income Fund Preferred Shares

Eagle Point Credit Management LLC has filed an Amendment No. 8 to Schedule 13D, disclosing a continued beneficial ownership of 25.11% of Carlyle Credit Income Fund's Preferred Shares for investment purposes.

Summary

• Eagle Point Credit Management LLC (EPCM) has filed an Amendment No. 8 to Schedule 13D regarding its beneficial ownership in Carlyle Credit Income Fund's Preferred Shares.
• EPCM, acting as an investment adviser for various private funds and separately managed accounts, beneficially owns an aggregate of 530,155 Series A Preferred Shares.
• This ownership represents approximately 25.11% of all outstanding preferred shares of Carlyle Credit Income Fund.
• EPCM holds sole voting and sole dispositive power over these Preferred Shares.
• The shares were acquired over time through multiple secondary transactions at various market prices, using available investment capital from the applicable accounts.
• Recent transactions between March 18, 2025, and May 9, 2025, included both sales and purchases of Preferred Shares, with prices ranging from $24.95 to $25.87 per share.

Sentiment

Score: 6

Explanation: The filing is a routine ownership disclosure, indicating a continued significant stake by a major investment adviser. While there are both purchases and sales, the overall beneficial ownership remains substantial, suggesting a neutral to slightly positive sentiment regarding the investor's ongoing interest.

Positives

• Eagle Point Credit Management LLC maintains a substantial beneficial ownership of 25.11% in Carlyle Credit Income Fund's Preferred Shares, indicating continued significant institutional interest.
• The filing explicitly states that the shares are held for 'investment purposes,' suggesting a long-term view rather than an activist or short-term trading strategy.
• Recent purchases of Preferred Shares, such as 16,331 shares at $25.00 and 10,000 shares at $25.13 on April 7, 2025, demonstrate continued confidence and active management of the position.

Negatives

• The filing details numerous sales of Preferred Shares by EPCM's accounts, including significant volumes like 6,100 shares at $25.45 on May 1, 2025, and 20,480 shares at $25.50 on May 8, 2025, which could indicate some profit-taking or portfolio rebalancing.

Risks

• EPCM, on behalf of the Accounts, reserves the right to increase or decrease the Accounts' ownership of the Preferred Shares over time, which could lead to future market volatility for the Preferred Shares depending on EPCM's trading activity.

Future Outlook

Eagle Point Credit Management LLC will continue to analyze its investments in the Preferred Shares on an ongoing basis and reserves the right to increase or decrease its ownership over time for investment purposes.

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 Schedule 13D filing is a routine disclosure of a significant institutional investor's stake in a closed-end fund's preferred shares. It reflects ongoing portfolio management by a registered investment adviser specializing in credit, which is common practice within the asset management industry for managing client accounts.

Stakeholder Impact

• Shareholders of Carlyle Credit Income Fund may view the continued significant ownership by Eagle Point Credit Management LLC as a sign of ongoing institutional confidence in the Preferred Shares.

Next Steps

• Eagle Point Credit Management LLC will continue to analyze its investment in the Preferred Shares.
• EPCM reserves the right to adjust its ownership position (increase or decrease) in the Preferred Shares in the future.

Key Dates

Keywords

SEC filing, Schedule 13D, beneficial ownership, Carlyle Credit Income Fund, Eagle Point Credit Management, Preferred Shares, investment adviser, institutional ownership, financial reporting