Carlyle Tactical Private Credit Fund

Privately held credit performing across all market cycles

By Carlyle

About

Track Record

Thesis

Company

Team

FAQs

AboutTrack RecordThesisCompanyTeamFAQs

Credit

About Carlyle Tactical Private Credit Fund

The Carlyle Tactical Private Credit Fund (“CTAC”) seeks to produce current income by leveraging Carlyle’s Global Credit platform, opportunistically shifting allocations across a wide range of credit types based on the current market environment.

Under normal circumstances, the Fund will invest at least 80% of its assets in private fixed income securities and credit instruments. Leveraging Carlyle’s global platform, the Fund aims to invest across the debt life cycle including: direct lending, liquid credit, structured credit, real assets credit, opportunistic credit and special situations.

The Carlyle team will focus on identifying opportunities that seek to maximize risk-adjusted returns by sourcing investments with an asymmetric return profile. The team looks to put together an active pipeline of opportunities through its internal research and direct origination model. Opportunities are screened and rigorously diligenced by the team and reviewed formally by an Investment Committee. The team closely monitors all investments within the portfolio to ensure the original investment thesis is still supported.

Key Facts¹


Fund size

$2.029B


Total holdings

504


Minimum initial investment (non-retirement)

$2,000


Minimum initial investment (retirement)

$2,000


Asset Class

Credit


Liquidity

Quarterly


Annualized Distribution Rate (net of fees)

8.84%²


Dividend reinvestment

Automatic


Mandate

Global


Inception Date

6/4/2018


1. As of 9/30/2022, unless otherwise noted. 2. Annualized distribution rate for the N share class as of 9/30/22. Represents income, capital gains and return of capital (if any) in the stated reporting period. To date, there has been no return of capital in any of the distributions. Annualized distribution rate is calculated by taking the stated quarter’s distribution rate divided by the quarter-end NAV and annualizing, without compounding

Titan Advisory Fee


$500 - $24,999 Net Deposits

0.90% AUM Per Year


$25,000 - $99,999 Net Deposits

0.80% AUM Per Year


$100,000+ Net Deposits

0.70% AUM Per Year


Strategy Expenses


Management Fee

1.0%³


Performance Fee (only once Hurdle Rate is achieved)

15.0%⁴


Hurdle Rate

6.0%


3. Charged on managed assets of the Fund. 4. Prior to July 1, 2022, CTAC charged 17.5% on investment income net of expenses.

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Track Record

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$8k$9k$10k$11k$12k202020212022Historical Growth of $10K Investment

The performance data quoted represents past performance, which does not guarantee future results; no representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided. Current performance and expense ratios may be lower or higher than the performance data quoted. The investment return and principal value of an investment in the fund will fluctuate so that an investor’s shares, when repurchased, may be worth more or less than the original cost.

Thesis

Asset Allocation⁵

The Fund seeks to invest in a wide range of credit verticals that include direct lending, liquid credit, opportunistic credit, structured credit, real assets and distressed. The weighting of these verticals across the debt life cycle changes based on the current economic environment.

Direct Lending:

35%

Opportunistic credit:

27%

Structured credit:

13%

Liquid credit:

17%

Real Asset Credit:

3%

Other:

6%

Tactical asset management⁶

Shifting allocation to different credit strategies based on the current market environment, the fund aims to optimize returns across various market cycles. Due to the active nature of the Fund, managers are able to overweight their highest conviction ideas.

5. As of 08/31/22 and subject to change. Totals may not foot due to rounding., 6. Information as of 05/31/22. Strategy allocations are calculated as a percent of managed assets. Cash and receivables/ prepaid assets are not included in the chart. Allocations subject to change.

About Carlyle

A Global Investment Firm

Carlyle is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $376 billion of Assets Under Management as of June 30, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,900 people in 26 offices across five continents.

Team

Justin V. Plouffe

Managing Director

Justin Plouffe is a Managing Director and the Deputy Chief Investment Officer for Global Credit. He is based in New York.

Linda Pace

Managing Director

Linda Pace is a Managing Director and Vice Chair of Global Credit, focusing on investing capital across the Global Credit platform.

Mark Jenkins

Managing Director

Mark Jenkins is a Managing Director and Head of Global Credit based in New York. He is also a member of Carlyle's Leadership Committee.

Brian Marcus

Managing Director

Brian Marcus is a Managing Director and Portfolio Manager in Global Credit. He is based in New York.

Paul J. Ferraro

Managing Director

Paul Ferraro is a Managing Director and Head of Investor Relations for Private Wealth. He is based in New York.

Frequently Asked Questions

Here are a few other common ones. If we haven’t answered your question, feel free to reach out to us at support@titan.com. We’re here for you.

Specific Third-Party Fund Page Offered Through Advisor

This Registered Investment Company (“RIC”) product (the “Third-Party Fund”) is offered by a third-party investment company, Carlyle Global Credit Investment Management (“Carlyle” or the “Third-Party Advisor”) and made available on the platform to advisory clients of Titan Global Capital Management USA LLC (“Titan”), an investment adviser registered with the Securities and Exchange Commission (“SEC”), as one of the many investment options available to Titan clients, that may or may not be recommended based on an individual client’s investment objectives and risk tolerance. Before investing in the Third-Party Fund, you should consult the specific supplemental information available at www.carlyle.com/fund. The prospectus and summary of risk factors have been prepared exclusively by the Fund provider, and not by Titan, and thus Titan cannot guarantee the accuracy or completeness of the material.

Certain investments are not suitable for all investors. Before investing, you should consider your investment objectives as well as any fees charged by Titan, or otherwise. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested, including principal. This is not an offer, solicitation of an offer, or advice to buy or sell securities or any other product or service by Titan or any other third-party.

Exclusive Offering through the Prospectus

The Fund materials must be preceded or accompanied by a prospectus, which is the exclusive offering document for the Third-Party Fund. By proceeding, you acknowledge you have reviewed the prospectus. If not, a prospectus can be obtained here. Please review the following summary of risk factors, as well as the prospectus, for a full list of risks associated with investing in the Fund before making any investment decision.

Neither the Securities and Exchange Commission nor any state securities regulator has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is unlawful.

Investors should consult with their financial advisor about the suitability of this fund in their portfolio. The Fund’s shares are offered for purchase exclusively through, and subject to the terms of, its prospectus. Investors should carefully consider the investment objective, risks, charges and expenses of the Fund before investing. This and other important information about the Fund is in the prospectus. The prospectus should be read carefully before investing.

Forward-Looking Statements and Past Performance

The contents of the materials may contain forward-looking statements that are based on beliefs, assumptions, current expectations, estimates, and projections about the financial industry, the economy, Carlyle itself or its investments. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what may be expressed or forecasted in such forward-looking statements. Furthermore, Carlyle undertakes no obligation to update, amend or clarify forward-looking statements, whether as a result of new information, future events or otherwise. Furthermore, past performance is not indicative of future results; no representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

Interval Fund General Disclosure

Investments in interval funds are highly speculative and subject to a lack of liquidity that is generally available in other types of investments. Monthly distributions are not guaranteed, and are subject to availability at the discretion of the Third Party Fund. Actual investment return and principal value is likely to fluctuate and may depreciate in value when redeemed. You are solely responsible for evaluating the merits and risks associated with the use of any information, materials, content, user content, or third-party content provided before making any decisions based on such content. Past performance data, performance graphs or other historical information are not a guarantee of future performance and should not be construed as indicative of future results. You should consider your individual investment objectives and risk tolerance before investing. The content presented is not intended to provide you or anyone else with investment, legal, tax, insurance or any other kind of professional advice. You should consult with a financial, tax or legal professional for advice regarding your specific financial, tax or legal positions and circumstances. You should read the fund’s prospectus in its entirety before investing. The fund’s prospectus contains the fund’s investment objectives, risks, charges, expenses, and other information, which should be considered carefully before investing. You can access the fund’s prospectus here.

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