Tactical Private Credit Fund
Carlyle Tactical Private Credit Fund (“CTAC”) is a continuously offered, unlisted closed-end investment company that is structured as an interval fund. CTAC leverages Carlyle’s Global Credit platform and seeks to provide access to a wide array of private credit strategies to meet its objectives of delivering current income. Under normal circumstances, the Fund will invest at least 80% of its assets in private fixed income securities and credit instruments.
As of September 30th, 2020, Carlyle's Global Credit platform manages $50 billion of credit assets. The group's investment strategies span the credit spectrum: liquid credit, illiquid credit and real assets credit.
The Fund materials below must be preceded or accompanied by a prospectus, which is the exclusive offering document for CTAC. 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.
Key Fund Facts Info as of 09.30.20
1 Total AUM as of 9/30/20 represents managed assets including leverage (net assets of $173 million). Past performance does not guarantee future results.
2 Based on 1 share class. Represents income only and does not include return of capital. Represents annualized distribution rate, which is calculated by taking the current quarters distribution rated divided by the current quarter-end NAV and annualizing, without compounding. Annualized distribution rate may be lower for other share classes.
3 Duration (Years): Duration measures interest rate sensitivity; the longer the duration, the greater the volatility as rates change.
4 Level of Debt as a Percent of Total Assets.
Performance as of 2/25/21
|Ticker||NAV||MTD Return||QTD Return||YTD Return||ITD Return|
|TAKIX||$8.92||1.30 %||3.07 %||3.07 %||9.32 %|
|Date||Ticker||NAV||MTD Return||QTD Return||YTD Return||ITD Return|
|2/25/21||TAKIX||$8.92||1.30 %||3.07 %||3.07 %||9.32 %|
|2/24/21||TAKIX||$8.93||1.40 %||3.17 %||3.17 %||9.42 %|
|2/23/21||TAKIX||$8.93||1.38 %||3.15 %||3.15 %||9.40 %|
|2/22/21||TAKIX||$8.93||1.37 %||3.14 %||3.14 %||9.39 %|
|2/19/21||TAKIX||$8.93||1.32 %||3.09 %||3.09 %||9.34 %|
|2/18/21||TAKIX||$8.93||1.31 %||3.07 %||3.07 %||9.32 %|
|2/17/21||TAKIX||$8.93||1.29 %||3.06 %||3.06 %||9.30 %|
|2/16/21||TAKIX||$8.91||1.05 %||2.81 %||2.81 %||9.04 %|
|2/12/21||TAKIX||$8.91||0.98 %||2.74 %||2.74 %||8.97 %|
|2/11/21||TAKIX||$8.91||0.96 %||2.72 %||2.72 %||8.95 %|
|2/10/21||TAKIX||$8.91||0.94 %||2.71 %||2.71 %||8.93 %|
|2/9/21||TAKIX||$8.91||0.93 %||2.69 %||2.69 %||8.91 %|
|2/8/21||TAKIX||$8.90||0.80 %||2.56 %||2.56 %||8.78 %|
|2/5/21||TAKIX||$8.90||0.75 %||2.51 %||2.51 %||8.72 %|
|2/4/21||TAKIX||$8.88||0.51 %||2.27 %||2.27 %||8.46 %|
|2/3/21||TAKIX||$8.88||0.49 %||2.25 %||2.25 %||8.44 %|
|2/2/21||TAKIX||$8.87||0.37 %||2.13 %||2.13 %||8.31 %|
|2/1/21||TAKIX||$8.86||0.24 %||2.00 %||2.00 %||8.18 %|
Past Performance is no guarantee of future results. Represents income only and does not include return of capital. Represents annualized distribution rate, which is calculated by taking the current quarter’s distribution rate divided by the current quarter-end NAV and annualizing, without compounding. NAV = NAV Per Share, MTD = Month to Date, QTD = Quarter to Date, YTD = Year to Date and ITD = Inception to Date (calculated on a cumulative basis). Annual Expense Ratios: Gross: Class A shares 5.79% / Class I shares 5.29% / Class L shares 5.79% / Class M shares 6.04% / Class N shares 5.29% / Class Y shares 5.54%. Net: Class A shares 5.13% / Class I shares 4.63% / Class L shares 5.13% / Class M shares 5.38% / Class N shares 4.63% / Class Y shares 4.88%. The performance data quoted represents past performance, which does not guarantee future results. 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. For performance data current to the most recent month-end, visit www.CarlyleTacticalCredit.com or call 833-677-3646. Class Y, N, M and Class I shares are not subject to a sales charge. The net expense ratio takes into account contractual fee waivers and/ or reimbursements, without which net performance would have been lower. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board. Generally, Class A Shares and Class L Shares are offered through Financial Intermediaries on brokerage or transactional platforms. Class Y, M, N Shares and Class I Shares are generally available through fee-based programs, registered investment advisers and other institutional accounts. Generally, Class I shares can only be purchased with a $250,000 initial investment. See prospectus for details.
As of September 30, 2020 and subject to change.
1 The strategy allocation percentages set forth represent actual portfolio allocations. There can be no assurance that any investment process or strategy will achieve its objectives.
2 The mention of specific sectors, countries, securities or issuers does not constitute a recommendation on behalf of the fund or the Advisor.
|Marketing Documents||Offering Materials||Financial Information|
CTAC is only available through participating Broker/Dealers and Registered Investment Advisers.
For a link to the Funds Ownership filings, please click here.
To check the background of the Firm or investment professionals, visit brokercheck.finra.org
For additional information, please reach out to Private.Wealth@carlyle.com
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.
Investing in the fund involves a high degree of risk, including the risk that you may receive little or no return on your investment or that you may lose part or all of your investment. This is a close-end interval and it not intended to be a typical traded investment. Limited liquidity is provided to shareholders only through the fund's quarterly repurchase offers for no less than 5% of the fund's shares outstanding at net asset value. Regardless of how the fund performs, there is no guarantee that shareholders will be able to see all of the shares they desire in quarterly repurchase offer.
There currently is no secondary market for the Fund’s shares and the Fund expects that no secondary market will develop. Shares of the Fund will not be listed on any securities exchange, which makes them inherently illiquid.
There is no assurance that quarterly distributions paid by the Fund will be maintained at the targeted level or that dividends will be paid at all. The Fund’s distributions may be funded from unlimited amounts of offering proceeds or borrowings, which may constitute a return of capital and reduce the amount of capital available to the Fund for investment. A return of capital to shareholders is a return of a portion of their original investment in the Fund, thereby reducing the tax basis of their investment.
This material is provided for general and educational purposes only, is not intended to provide legal or tax advice, and is not for use to avoid any penalties that may be imposed under U.S. federal tax laws. Contact your attorney or other advisor regarding your specific legal, investment or tax situation.
Investing involves risk. Investment return and principal value of an investment will fluctuate, and an investor’s shares, when repurchased, may be worth more or less than their original cost. Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Below-investment-grade (“high yield” or "junk") bonds are more at risk of default and are subject to liquidity risk. Credit instruments that are rated below investment grade (commonly referred to as “high yield” securities or “junk bonds”) are regarded as having predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal. Collateralized loan obligations (CLO’s) are debt instruments but also carry additional risks related to the complexity and leverage inherent in the CLO structure. Because of the risks associated with investing in high yield securities, an investment in the Fund should be considered speculative. Some of the credit instruments will have no credit rating at all. The Fund may invest in loans and the value of those loans may be detrimentally affected to the extent a borrower defaults on its obligations. Senior loans are typically lower-rated and may be illiquid investments, which may not have a ready market. Investments in lesser-known and middle-market companies may be more vulnerable than larger, more established organizations. Distressed credit investments are inherently speculative and are subject to a high degree of risk. Leverage (borrowing) involves transaction and interest costs on amounts borrowed, which may reduce performance. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. The Fund is classified as “non-diversified” and may invest a greater portion of its assets in the securities of a single issuer.
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 which can be obtained by contacting your financial advisor or on downloaded via this webpage. The prospectus should be read carefully before investing.
The Fund is distributed by Foreside Funds Services, LLC.