The Law Offices of Frank R. Cruz Announces Investigation of Carlyle Credit Income Fund f/k/a Vertical Capital Income Fund (CCIF; VCIF) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Carlyle Credit Income Fund f/k/a Vertical Capital Income Fund (the “Fund”) (NYSE: CCIF; VCIF) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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On January 12, 2023, the Fund announced that its current investment manager would be replaced by Carlyle Global Credit Investment Management L.L.C., and that the Fund’s investment mandate would change from investing in residential home loans to investing in equity and debt tranches of collateralized loan obligations. The replacement was subject to approval by shareholder vote with the condition that the Fund sell at least 95% of its legacy residential portfolio.

Then, on July 11, 2023, the Fund announced that it had sold most of its legacy loan portfolio for “aggregate proceeds lower than the book value of the combined assets…,” and as a result, the Fund had revised its NAV to $8.27 per share.

On this news, the Fund’s stock fell $1.45, or 14.7%, to close at $8.45 per share on July 11, 2023, thereby injuring investors.

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If you purchased the Fund’s securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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