SCHEDULE 13D/A: Eagle Point Credit Management Reduces Stake in Carlyle Credit Income Fund Preferred Shares to 29.35%

Eagle Point Credit Management LLC has filed an amended Schedule 13D, disclosing a reduction in its beneficial ownership of Carlyle Credit Income Fund's Preferred Shares to 29.35% through various secondary market transactions.

Summary

• Eagle Point Credit Management LLC (EPCM), a registered investment adviser, has filed an Amendment No. 5 to its Schedule 13D regarding its holdings in Carlyle Credit Income Fund's Preferred Shares.
• EPCM, on behalf of its managed accounts, beneficially owns an aggregate of 610,582 Series A Preferred Shares of Carlyle Credit Income Fund.
• This ownership represents approximately 29.35% of the Issuer's total outstanding preferred shares, which were 2,080,000 as of September 30, 2024.
• The filing indicates a net reduction in EPCM's beneficial ownership from the previously reported 30.77% (640,000 shares) in the February 23, 2024 filing.
• The shares were acquired over time in multiple secondary transactions at various market prices, funded by each applicable Account's available investment capital.
• EPCM's purpose for holding the shares remains for investment purposes, and it reserves the right to increase or decrease ownership over time.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of a change in beneficial ownership, which is largely neutral. The slight reduction in stake is a minor negative, but the overall tone and purpose are routine investment activity.

Negatives

• Eagle Point Credit Management LLC has reduced its beneficial ownership percentage in Carlyle Credit Income Fund's Preferred Shares from 30.77% to 29.35% since its last filing, indicating a net sale of shares.

Future Outlook

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

Industry Context

This filing reflects a routine disclosure by a significant institutional investor regarding its stake in a publicly traded fund's preferred shares. Such adjustments in holdings are common as investment managers rebalance portfolios or respond to market conditions, and do not inherently indicate broader industry trends without further context.

Stakeholder Impact

• Shareholders of Carlyle Credit Income Fund may note the reduction in a significant institutional investor's stake, which could be interpreted as a slight decrease in confidence or a portfolio rebalancing by Eagle Point Credit Management LLC.

Next Steps

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

Key Dates

Keywords

Eagle Point Credit Management, Carlyle Credit Income Fund, Preferred Shares, Schedule 13D/A, Beneficial Ownership, Investment Adviser, SEC Filing, Shareholding Update