Carlyle Secured Lending Business Summary

Carlyle Secured Lending, Inc. (CGBD) is an externally managed business development company (BDC) that specializes in providing direct lending solutions to U.S. middle-market companies, primarily those backed by private equity sponsors. The firm generates revenue through interest income and fees derived from a portfolio heavily weighted toward defensive, senior secured debt; as of early 2026, approximately 95% of its $2.8 billion investment pool is comprised of first-lien and second-lien loans. CGBD operates through its core direct lending segment and has recently expanded its market footprint via the 2025 merger with Carlyle Secured Lending III and the 2026 formation of Structured Credit Partners JV, a $600 million joint venture with Sixth Street focused on broadly syndicated loans. Within the competitive BDC landscape, CGBD maintains a mid-cap profile, positioning itself as a lower-volatility, yield-focused alternative to larger peers like Ares Capital (ARCC), Oaktree Specialty Lending (OCSL), and New Mountain Finance (NMFC). The leadership team is comprised of seasoned veterans from its parent advisor, Carlyle. Justin V. Plouffe serves as Chief Executive Officer and President, bringing over 18 years of experience at Carlyle where he also holds the role of Chief Financial Officer for the global firm. He is supported by Thomas M. Hennigan, who serves as Chief Financial Officer, Chief Operating Officer, and Chief Risk Officer for Direct Lending, and Michael Hadley, the Chief Investment Officer and Head of Underwriting. The company is governed by a Board of Directors chaired by Linda Pace, an independent director with extensive credit market expertise. This executive core leverages the broader Carlyle platform—which manages over $474 billion in assets—to source proprietary deal flow and provide institutional-grade credit oversight, a pedigree that distinguishes the firm from smaller, independent specialty finance companies.