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Carlyle Secured Lending, Inc. (NASDAQ: CGBD) is a publicly traded business development company, specializing in providing financing solutions across the capital structure with a primary focus on senior secured lending to middle-market companies in the United States. Established in 2013, the company aims to generate current income and capital appreciation through debt investments in U.S. middle-market firms. CSL is externally managed by Carlyle Global Credit Investment Management L.L.C., an SEC-registered investment adviser and wholly owned subsidiary of The Carlyle Group Inc. Since its inception, CSL has invested approximately $8.0 billion in aggregate principal debt and equity investments as of September 30, 2023, excluding subsequent exits or repayments.
CSL's investment strategy leverages Carlyle's extensive global network and deep industry expertise to source unique deal opportunities and maintain disciplined credit underwriting. Despite a sluggish traditional deal flow, CSL has successfully utilized its relationships and existing borrower connections to generate attractive incomes for its investors, maintaining stability in its portfolio even in complex economic environments.
Recent financial highlights include net investment income of $0.52 per common share for the third quarter of 2023 and a slight increase in net asset value per common share to $16.86 from $16.73 as of June 30, 2023. The total fair value of CSL’s investments stood at $1.9 billion as of September 30, 2023.
The company declared a base quarterly common dividend of $0.37 and a supplemental common dividend of $0.07 on November 2, 2023, payable on January 18, 2024, to common stockholders of record on December 29, 2023. This reflects the company's commitment to delivering consistent returns to its shareholders.
CSL will host a conference call at 10:00 a.m. ET on Wednesday, November 8, 2023, to discuss quarterly financial results, which will also be available via public webcast on Carlyle Secured Lending’s website.
About Carlyle Group
Carlyle (NASDAQ: CG) is a global investment firm with a significant presence across three business segments: Global Private Equity, Global Credit, and Global Investment Solutions. With $382 billion in assets under management as of September 30, 2023, Carlyle aims to invest wisely and create value for its investors, portfolio companies, and the communities where it operates. The firm employs over 2,200 people across 28 offices on four continents.
For more information, visit carlylesecuredlending.com.
TCG BDC (CGBD) reported solid fourth-quarter results for 2021, highlighting total investment income of $43.97 million, up from $43.76 million in the prior quarter. Net investment income rose to $22.45 million, or $0.40 per share, compared to $22.09 million or $0.39 per share. However, net realized and unrealized gains decreased to $11.51 million from $25.53 million. The company continued its stock repurchase program, buying back 0.6 million shares. A base dividend of $0.32 and a supplemental dividend of $0.08 were declared, payable on April 15, 2022.
TCG BDC reported strong financial results for Q3 2021, highlighting a net asset value increase to $16.65 per share, up from $16.14 in Q2 2021. Total investments rose to $1.95 billion, with net investment income climbing to $22.1 million ($0.39 per share). The company realized gains of $25.5 million, contributing to a net increase in assets of $47.6 million for the quarter. A quarterly dividend of $0.32 plus $0.07 supplemental was declared, payable January 14, 2022. TCG BDC remains well-positioned for sustainable income generation amidst a robust investment environment.
TCG BDC (CGBD) reported strong second-quarter results for 2021, highlighting total investments at fair value of $1.87 billion, up 1.7% from the previous quarter. The net investment income rose to $20.76 million, or $0.38 per share, compared to $19.80 million, or $0.36 per share in Q1. Net assets increased to $924.83 million, with a net asset value per share of $16.14. The company declared a quarterly dividend of $0.32 plus a supplemental dividend of $0.06, payable on October 15, 2021. Credit performance remains robust amid a favorable transaction environment.
TCG BDC, Inc. (CGBD) reported its Q1 2021 financial results, highlighting a solid performance amid improving credit conditions. Total investments at fair value rose to $1.84 billion, with net investment income of $20.7 million, or $0.36 per share, down from $21.9 million, or $0.38 per share, in the previous quarter. The company declared a regular quarterly dividend of $0.32 and a supplemental dividend of $0.04. Total assets decreased slightly to $1.90 billion, while net assets per common share increased to $15.70. TCG BDC remains well-positioned for future growth and sustainable income.
TCG BDC announced its financial results for Q4 2020, reporting a net investment income of $21,909, or $0.38 per share, slightly up from the previous quarter. The company experienced a total investment income of $43,514, reflecting a $730 increase over Q3 2020. Total investments at fair value decreased by 6.3% to $1,825,749 due to significant repayments. Net assets per share improved to $15.39, up from $15.01. TCG BDC declared a regular quarterly dividend of $0.32 alongside a $0.05 supplemental dividend, set to be paid on April 16, 2021.
TCG BDC, Inc. (CGBD) has formed a joint venture with Cliffwater LLC to establish Middle Market Credit Fund II (MMCF II), enhancing its income generation capabilities. This venture includes an initial $250 million in senior secured loans, with TCG BDC holding 84% equity. The transaction is expected to improve capital deployment opportunities and allow for share repurchases, potentially increasing net investment income. TCG BDC's debt is projected to decrease by about $170 million following this move.
TCG BDC reported its third-quarter results for 2020, showcasing a solid portfolio with no new non-accruals. Total investments increased to $1,948,173, up 2.1% from the previous quarter. However, total investment income decreased to $42,784, resulting in a net investment income of $21,234 ($0.36 per share). Regular dividends were declared at $0.32, alongside a special dividend of $0.04, payable in January 2021. The weighted average yield on first lien debt was 7.08%. The company maintains a strong position amid economic uncertainty, with a focus on attractive income generation for shareholders.
TCG BDC, Inc. (CGBD) reported its second-quarter financial results for the period ended June 30, 2020. Total investments at fair value decreased by 5.8% to $1.91 billion. Total assets fell to $1.96 billion, while net assets increased to $883.3 million, translating to $14.80 per common share. The company declared a regular quarterly dividend of $0.32 and a special dividend of $0.05, payable on October 16, 2020. Despite a decrease in total investment income to $45.3 million, the net increase in net assets from operations was $56.2 million, a significant turnaround from the previous quarter's loss of $121.1 million.
TCG BDC (CGBD) has announced a shift to a virtual format for its Annual Meeting of Stockholders on June 22, 2020, due to COVID-19. The meeting will still occur at 8:00 a.m. Eastern time, with stockholders able to attend remotely. No updates will be made to previously distributed proxy materials regarding this change. Stockholders are encouraged to vote in advance using the existing proxy materials. TCG BDC focuses on lending to middle-market companies, having invested approximately $5.9 billion since 2013, and aims for current income and capital appreciation through debt investments.
TCG BDC (NASDAQ: CGBD) reported its Q1 2020 financial results, highlighting a significant decrease in net assets and investment income due to the COVID-19 pandemic. Total investments fell to $2,024,277, down 4.7% from Q4 2019. Net investment income was $23,972, or $0.42 per share, compared to $25,377, or $0.43 per share in the previous quarter. A net realized loss of $145,072 occurred, resulting in a net decrease in net assets of $121,100. The Company declared a quarterly dividend of $0.37, payable on July 17, 2020.
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