Wolf Popper LLP Announces Investigation on Behalf of Investors in Vertical Capital Income Fund, Now Known As Carlyle Credit Income Fund


NEW YORK, Dec. 28, 2023 (GLOBE NEWSWIRE) -- Wolf Popper LLP is investigating potential claims on behalf of investors in Vertical Capital Income Fund (the “Fund,” NYSE: VCIF), which is now known as Carlyle Credit Income Fund (NYSE: CCIF).

The Fund was a publicly listed close-end fund that invested in residential home loans. On January 12, 2023, the Fund announced it had entered into a transaction agreement with an affiliate of global investment firm Carlyle. Pursuant to the agreement, among other things, the Fund’s current investment manager (Oakline) would be replaced by Carlyle Global Credit Investment Management L.L.C., and the Fund’s investment mandate would change to invest in equity and debt tranches of collateralized loan obligations (CLOs). The transaction was subject to approval by a vote of the Fund’s shareholders and was conditioned on the Fund selling at least 95% of its legacy residential loan portfolio.

On July 11, 2023, during market hours, the Fund announced that it had sold a significant majority 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 share price fell $1.45 per share, from a closing price on July 10, 2023 of $9.90 per share, to a closing price on July 11, 2023 of $8.45 per share, a decline of nearly 14.7% on heavy volume.

Investors who have questions about Wolf Popper’s investigation or who held VCIF shares on July 11, 2023 and suffered damages as a result of the decline in the Fund’s share price should contact Joshua Ruthizer at (212) 451-9668 or jruthizer@wolfpopper.com.

Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper’s reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm’s website at www.wolfpopper.com.

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Contact:
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Joshua Ruthizer
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New York, NY 10022
Telephone: (212) 451-9668
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Email: jruthizer@wolfpopper.com