Eagle Point Amends Carlyle Credit Income Fund Preferred Share Stake

TL;DR

**Eagle Point Credit Management updated its stake in Carlyle Credit Income Fund preferred shares.**

AI Summary

Eagle Point Credit Management LLC filed an Amendment No. 2 to its Schedule 13D, indicating a change in its beneficial ownership of Preferred Shares in Carlyle Credit Income Fund as of December 29, 2023. This filing updates previous disclosures regarding Eagle Point's stake in the fund's preferred shares. For investors, this matters because Eagle Point Credit Management is a significant holder, and changes in their position can signal their sentiment about the fund's future performance or strategic direction, potentially influencing market perception and the stock's price.

Why It Matters

This filing signals an updated position by a major institutional investor, which can influence market sentiment and potentially the trading price of Carlyle Credit Income Fund's preferred shares.

Risk Assessment

Risk Level: low — This is an informational filing about an updated ownership stake, not an event that inherently carries high risk.

Analyst Insight

Investors should monitor subsequent filings from Eagle Point Credit Management LLC to understand the full scope of their updated position and any potential strategic intentions regarding Carlyle Credit Income Fund's preferred shares.

Key Players & Entities

• Eagle Point Credit Management LLC (company) — the entity filing the SC 13D/A
• Carlyle Credit Income Fund (company) — the issuer of the securities
• Courtney Fandrick (person) — person authorized to receive notices for Eagle Point Credit Management LLC
• December 29, 2023 (date) — date of the event requiring the filing

FAQ

Key Financial Figures

• $25 — referred Shares, Liquidation Preference $25 per Share ("Series A Preferred Shares"
• $17,363,412.25 — d Shares held as of the date hereof was $17,363,412.25. ITEM 4. PURPOSE OF TRANSACTION. EPC
• $24.25 — purchased 800,000 shares at a price of $24.25 per share and an aggregate purchase pri
• $19,400,000 — hare and an aggregate purchase price of $19,400,000. · Subsequent to the underwrit
• $25.50 — ferred Share 11/28/2023 Sale 3,500 $25.50 11/28/2023 Sale 2,600 $25.60 11/
• $25.60 — ,500 $25.50 11/28/2023 Sale 2,600 $25.60 11/29/2023 Sale 300 $25.43 11/29
• $25.43 — 2,600 $25.60 11/29/2023 Sale 300 $25.43 11/29/2023 Sale 2,218 $25.45 11/
• $25.45 — 300 $25.43 11/29/2023 Sale 2,218 $25.45 11/29/2023 Sale 200 $25.46 11/29
• $25.46 — 2,218 $25.45 11/29/2023 Sale 200 $25.46 11/29/2023 Sale 2,557 $25.50 11/
• $25.44 — ,189 $25.43 11/30/2023 Sale 1,141 $25.44 11/30/2023 Sale 1,056 $25.45 11/
• $25.47 — e 300 $25.46 11/30/2023 Sale 400 $25.47 11/30/2023 Sale 900 $25.48 11/30
• $25.48 — e 400 $25.47 11/30/2023 Sale 900 $25.48 11/30/2023 Sale 4 $25.49 11/30/2
• $25.49 — ale 900 $25.48 11/30/2023 Sale 4 $25.49 11/30/2023 Sale 2,300 $25.50 12/
• $25.53 — 300 $25.46 12/1/2023 Sale 1,900 $25.53 12/4/2023 Sale 1,628 $25.40 12/4
• $25.40 — 1,900 $25.53 12/4/2023 Sale 1,628 $25.40 12/4/2023 Sale 20 $25.42 12/4/20

Filing Documents

• tm241897d1_sc13da.htm (SC 13D/A) — 123KB
• 0001104659-24-000955.txt ( ) — 124KB

SECURITY AND ISSUER

ITEM 1. SECURITY AND ISSUER. Issuer: Carlyle Credit Income Fund (the "Issuer") Address of Issuer's principal executive offices: One Vanderbilt Avenue, Suite 3400, New York, New York 10017 Security: · 8.75% Series A 2028 Term Preferred Shares, Liquidation Preference $25 per Share ("Series A Preferred Shares" or the "Preferred Shares")

IDENTITY AND BACKGROUND

ITEM 2. IDENTITY AND BACKGROUND. This Schedule 13D is filed by Eagle Point Credit Management LLC (“EPCM”), a Delaware limited liability company (the “Reporting Person”). The principal business address for the Reporting Person is 600 Steamboat Road, Suite 202, Greenwich, CT 06830 United States. EPCM is a registered investment adviser and serves as investment adviser to certain private funds and separately managed accounts which hold the Preferred Shares described herein (collectively, the “Accounts”). EPCM is ultimately wholly owned by Eagle Point Holdings LP (“EP Holdings”) through intermediary holding companies. Eagle Point Holdings GP LLC (“EP Holdings GP”) is the sole general partner of EP Holdings. EP Holdings GP is managed by a board of managers (the “EP Holdings Board”) of which the majority of the members are appointed by Trident EP-II Holdings LLC (“EP-II LLC”), which also owns a majority of the voting interests in EP Holdings GP. Information regarding EP Holdings, EP Holdings GP, EP-II LLC, and each member of the EP Holdings Board (the “Additional Disclosed Persons” and, together with the Reporting Person, the “Disclosed Parties”) is attached to this Schedule 13D as Schedule I and is incorporated herein by reference. During the past five years, none of the Disclosed Parties (i) has been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

SOURCE AND AMOUNT OF FUNDS OR OTHER

ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. All of the Preferred Shares reported herein were purchased by the Accounts in an underwritten public offering that priced on November 21, 2023. The aggregate purchase price of the 716,017 Series A Preferred Shares held as of the date hereof was $17,363,412.25.

PURPOSE OF TRANSACTION

ITEM 4. PURPOSE OF TRANSACTION. 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.

INTEREST IN SECURITIES OF THE ISSUER

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. CURRENT OWNERSHIP Based on public disclosures filed by the Issuer with the SEC, the Issuer currently has total of 2,080,000 shares of preferred stock outstanding. The Reporting Person, by virtue of its discretionary investment authority and voting power in respect of the Accounts, may be deemed to beneficially own an aggregate of 716,017 Series A Preferred Shares, which represents approximately 34.42% of all of the Issuer’s outstanding preferred shares. The number of Preferred Shares which may be deemed to be beneficially owned by the Disclosed Parties are as follows: Shares Deemed to be Beneficially Owned By: Nature of Ownership Percentage of Class Eagle Point Credit Management LLC: 716,017 Sole Voting and Sole Dispositive Power (1) 34.42% EP Holdings (2): - - - EP Holdings GP (2): - - - EP Holdings Board members (2): - - - EP-II LLC (2): - - - (1) Pursuant to an investment management agreement between EPCM and each Account, EPCM has discretionary investment authority and voting power with respect to the Preferred Shares held by the Accounts. Thus, EPCM could be deemed to have the sole power to vote and dispose or direct the disposition of such Preferred Shares. (2) EP Holdings is a holding company for EPCM. While EP Holdings, EP Holdings GP, each of the EP Holdings Board members, and EP-II LLC could be deemed to share beneficial ownership of the securities held by the Accounts and beneficially owned by EPCM, each of the foregoing fully disclaim beneficial ownership of such securities. TRANSACTIONS During the past sixty days: · On November 21, 2023, pursuant to the underwritten public offering described above in response to Item 3, the Accounts purchased 800,000 shares at a price of $24.25 per share and an aggregate purchase price of $19,400,000. · Subsequent to the underwritten offering, from November 28, 2023 through January 3, 2024, the Accounts sold an aggregat

CONTRACTS, ARRANGEMENTS, UNDERSTANINGS

ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. The relationships between the Disclosing Parties are described in response to Item 2.

MATERIAL TO BE FILED AS EXHIBITS

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. All other materials which may be required to be filed as exhibits have been incorporated by reference herein. *** In accordance with Rule 13d-4 under the Act, the Disclosed Parties expressly disclaim the beneficial ownership of the securities covered by this statement and the filing of this report shall not be construed as an admission by such persons that they are the beneficial owners of such securities.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. EAGLE POINT CREDIT MANAGEMENT LLC By: /s/ Kenneth Onorio Name: Kenneth Onorio Title: Chief Financial Officer SCHEDULE I EP Holdings is a Delaware limited partnership and EP Holdings GP is a Delaware limited liability company. The principal business address of each of these entities is c/o Eagle Point Credit Management LLC, 600 Steamboat Road, Suite 202, Greenwich, CT 06830. EP-II LLC is a Delaware limited liability company. Its principal business address is c/o Stone Point Capital LLC, 20 Horseneck Lane, Greenwich, CT 06830. Set forth below is the name and principal occupation of each member of the Board of EP Holdings GP. Each of the following individuals is a United States citizen. Name Principal Occupation Principal Business Address Scott J. Bronner Managing Director, Stone Point Capital LLC c/o Stone Point Capital LLC, 20 Horseneck Lane, Greenwich, CT 06830 James D. Carey Managing Director, Stone Point Capital LLC c/o Stone Point Capital LLC, 20 Horseneck Lane, Greenwich, CT 06830 Thomas P. Majewski Managing Partner, EPCM (and certain affiliated advisers) c/o Eagle Point Credit Management LLC, 600 Steamboat Road, Suite 202, Greenwich, CT 06830 James R. Matthews Managing Director, Stone Point Capital LLC c/o Stone Point Capital LLC, 20 Horseneck Lane, Greenwich, CT 06830 Additional information regarding EPCM's under the Investment Advisers Act of 1940, as amended, and is incorporated herein by reference.

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