)
Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
How Dollar General built a small-box empire across rural America, scaling value and convenience into one of retail's most durable business models.
Carlyle Secured Lending
Carlyle Secured Lending (CGBD) investor relations material
Carlyle Secured Lending Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary25 Feb, 2026
Executive summary
Achieved record originations in 2025, deploying over $1.2 billion at the entity and $7 billion at the platform level, with a focus on stable, high-quality credits and strategic partnerships.
New CEO and President appointments, maintaining core investment strategy and leveraging the broader platform.
Portfolio diversified across 165 companies and 25+ industries, with 94% in senior secured loans and a weighted average yield of 10.1%.
Announced new joint venture, Structured Credit Partners (SCP), to enhance diversification and yield.
Net asset value per share was $16.26 at year-end, down from $16.36 at prior quarter-end.
Financial highlights
Fourth quarter net investment income was $24 million, or $0.33 per share GAAP, $0.36 adjusted; total investment income for Q4 was $67 million.
Adjusted net investment income for Q4 2025 was $25.8 million, reflecting adjustments for non-recurring items.
Dividend declared for Q1 2026 at $0.40 per share, supported by $0.74 per share of spillover income.
Share repurchases totaled $14 million in Q4 and $14 million in Q1 to date, accreting $0.12 per share to NAV.
Net realized and unrealized losses for Q4 2025 totaled $6.6 million.
Outlook and guidance
Earnings expected to trough in H1 2026 due to base rate cuts, with improvement anticipated as JV portfolios ramp.
Active origination pipeline for Q1 2026, with expectations for increased M&A activity and deal flow.
SCP JV expected to be highly accretive to return on equity, with fee-free structure providing 400-500 bps uplift.
Board approved an upsize of the stock repurchase program by $100 million to $300 million in February 2026.
Increased capital commitment to the Credit Fund by $75 million per member, aiming for continued portfolio growth.
Detail origination apparatus expansion
How does new structured credit JV enhance ROE?
Reconcile NAV decrease with investment value increase
SCP JV's expected ROE accretion and yield impact
AI disruption risk assessment for software portfolio
Capital allocation: buybacks vs. new JV investments
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Carlyle Secured Lending earnings date
Q1 20266 May, 2026
Carlyle Secured Lending
Next Carlyle Secured Lending earnings date
Q1 20266 May, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
TCG BDC, Inc. is a business development company specializing in first lien debt, senior secured loans, second lien senior secured loans, unsecured debt and investments in equity of small-and micro-cap companies. The firm invests in the form of first lien cash flow term loan, stretch tranche debt investments, unitranche investments, second lien senior secured loan investments and subordinated unsecured convertible debenture investments with warrants or separately. It may invest between $5 million to $25 million in portfolio companies with an enterprise value ranging from $15 million to $100 million. The firm prefers to invest in manufacturing, aerospace, building products and construction materials, chemicals and materials, consumer products and services and contracting services sectors.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage