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Carlyle Secured Lending III

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2024 10-Q, filed Nov 13, 2024. Its latest SEC filing is a 4 from Apr 1, 2025.

The sections below describe the company as of the FY2023 annual report.

What Did They Do?

Lends directly to private U.S. middle-market companies through secured loans, often to businesses backed by private equity firms.

How Did They Make Money?

Earns mainly interest on debt investments, generally paid quarterly, plus equity dividends, gains from investment sales, and loan-related fees earned when due or when related services are provided.

revenue

Who Were Their Customers?

Makes directly originated loans to private U.S. middle-market companies, often businesses supported by or controlled by private equity firms.

Did Revenues Turn Into Profits?

Yes. Its net income in was larger than its revenue.

Net income,
132% of revenue
▲ +714% vs ($3M, 58%)

How Were They Changing?

Since the FY2023 annual report
Latest quarter: Q3 FY2024, the three months to Sep 30, 2024
Revenue
▲ +50%
vs $4.8M in Q3 FY2023
Net income
▼ −33%
vs $8.5M in Q3 FY2023
  • Mar 28, 2025 Merged into Carlyle Secured Lending CSL III became a wholly owned subsidiary before merging into CGBD, which survived.
  • Aug 5, 2024 Agreed to merge with Carlyle Secured Lending CGBD agreed to acquire CSL III in a stock-for-stock merger.

Grew. Revenue grew 3.6x in 1 year, from $5.2M in to $18.7M in , about 259% a year.

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