Carlyle Secured Lending anticipates its Structured Credit Partners joint venture will eventually manage $6 billion to $7 billion of assets fee-free and plans to price and close two additional CLOs in 2026, subject to market conditions. CFO Thomas Hennigan said the company expects the second quarter to be the near-term earnings trough, with earnings and supplemental dividends ramping over the next four to six quarters as both joint ventures scale. For the second quarter, net investment income was $24 million, or $0.35 per share, fully covering the base dividend, while total investment income was $62 million and total expenses were $38 million. The company repurchased $12.5 million of shares at an average discount of 29% and maintained its supplemental dividend policy targeting at least 50% of excess earnings. CEO Alex Chi described a complicated market backdrop with muted M&A due to geopolitical and macroeconomic uncertainty, though platform originations rose over 20% from the prior quarter.
Carlyle Secured Lending IncExpects earnings trough in Q2 with ramp over next 4-6 quarters, NII covers dividend, and plans additional CLOs.
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