Saba Capital Maintains Significant Stake in Carlyle Credit Income Fund
Ticker: CCID · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 1517767
| Field | Detail |
|---|---|
| Company | Carlyle Credit Income Fund (CCID) |
| Form Type | SC 13G/A |
| Filed Date | Jan 29, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: activist-investing, shareholder-update, closed-end-fund
TL;DR
**Saba Capital still owns a big chunk of Carlyle Credit Income Fund, watch for potential activist moves.**
AI Summary
Saba Capital Management, L.P. filed an amended SC 13G/A on January 29, 2024, indicating their beneficial ownership in Carlyle Credit Income Fund (CCIF) as of December 31, 2023. This filing updates their previous disclosures, confirming their continued significant stake in the fund. For investors, this matters because Saba Capital is known for its activist investing in closed-end funds, suggesting they may continue to push for changes that could impact CCIF's share price or distribution policy.
Why It Matters
Saba Capital Management, a prominent activist investor, continues to hold a substantial position in Carlyle Credit Income Fund, signaling their ongoing interest and potential influence over the fund's future strategic decisions.
Risk Assessment
Risk Level: medium — The presence of an activist investor like Saba Capital can introduce volatility and uncertainty, as their actions could lead to significant changes in the fund's operations or structure.
Analyst Insight
Investors should monitor future filings and news related to Saba Capital's involvement with Carlyle Credit Income Fund, as their activist strategies could influence the fund's performance or corporate actions.
Key Players & Entities
- Saba Capital Management, L.P. (company) — the reporting person filing the SC 13G/A
- Carlyle Credit Income Fund (company) — the subject company in which Saba Capital holds shares
- BOAZ R. WEINSTEIN (person) — listed as a group member
- SABA CAPITAL MANAGEMENT GP, LLC (company) — listed as a group member
- December 31, 2023 (date) — the date of the event requiring the filing
Forward-Looking Statements
- Saba Capital Management, L.P. will continue to be an active shareholder in Carlyle Credit Income Fund. (Saba Capital Management, L.P.) — high confidence, target: 2025-01-29
- Carlyle Credit Income Fund may face pressure from Saba Capital to implement shareholder-friendly initiatives. (Carlyle Credit Income Fund) — medium confidence, target: 2024-12-31
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing under the Securities Exchange Act of 1934, as stated in the filing's header and body.
Who is the reporting person in this filing?
The reporting person is Saba Capital Management, L.P., as explicitly stated in the 'FILED BY' section and on the cover page of the Schedule 13G/A.
What is the subject company of this filing?
The subject company is Carlyle Credit Income Fund, as identified in the 'SUBJECT COMPANY' section and on the cover page of the Schedule 13G/A.
What is the CUSIP number for the securities mentioned?
The CUSIP number for the Common Stock, no par value, of Carlyle Credit Income Fund is 92535C104, as listed on the cover page of the Schedule 13G/A.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified on the cover page of the Schedule 13G/A.
Filing Stats: 1,294 words · 5 min read · ~4 pages · Grade level 11 · Accepted 2024-01-29 09:38:16
Filing Documents
- formsc13ga.htm (SC 13G/A) — 49KB
- 0001062993-24-001479.txt ( ) — 50KB
Ownership
Item 4. Ownership (a) Amount Beneficially Owned: The information required by Items 4(a) - (c) is set forth in Rows (5) - (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
Ownership of Five Percent or Less of a Class. X
Item 5. Ownership of Five Percent or Less of a Class. X
Ownership of more than Five Percent on Behalf of Another Person. N/A
Item 6. Ownership of more than Five Percent on Behalf of Another Person. N/A Item 7. Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company or control person. N/A
Identification and classification of members of the group. N/A
Item 8. Identification and classification of members of the group. N/A
Notice of Dissolution of Group. N/A
Item 9. Notice of Dissolution of Group. N/A
Certifications
Item 10. Certifications. By signing below each Reporting Person certifies that, to the best of his or its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Page 6 of 7 SIGNATURE 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. Dated: January 29, 2024 /s/ Signature Michael D'Angelo Name: Michael D'Angelo Title: Chief Compliance Officer Boaz R. Weinstein By: Michael D'Angelo Title: Attorney-in-fact*** *** Pursuant to a Power of Attorney dated as of November 16, 2015 Page 7 of 7