Lauren Basmadjian
About Lauren Basmadjian
Lauren Basmadjian (born 1979) is an Interested Trustee of Carlyle Credit Income Fund (CCIF) and currently serves as Chair of the Board; she is classified as “interested” due to her affiliation with the Fund’s Adviser, Carlyle Global Credit Investment Management L.L.C. . She has over 20 years of experience across leveraged loans and structured credit, is Managing Director, Co‑Head of Liquid Credit, and Head of U.S. Loans & Structured Credit at The Carlyle Group’s Global Credit platform (overseeing ~$48B AUM), and graduated cum laude with a B.S. in Finance & Economics from NYU Stern . Her CCIF board tenure began in July 2023 (Class III) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Carlyle Group Inc. | Managing Director; Co‑Head of Liquid Credit; Head of US Loans & Structured Credit | Since 2020 | Sits on Investment Committees for Carlyle’s US Loan, CLO, and Liquid/Illiquid Credit investing activities |
| Octagon Credit Investors, LLC | Senior Portfolio Manager; Investment Committee member; managed XAI Octagon Floating Rate & Alternative Income Term Trust | 2001–2020 | Led workouts; oversaw leisure & entertainment, retail, consumer products, business services, food & beverage, technology industries |
| Chase Securities, Inc. | Acquisition Finance Group | Prior to 2001 (not specified) | Acquisition finance work |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| XAI Octagon Floating Rate & Alternative Income Term Trust (public 1940 Act fund) | Fund managed while at Octagon | Not specified | Portfolio management of CLO tranches and leveraged loans |
| The Carlyle Group Inc. (Global Credit) | Managing Director; Co‑Head Liquid Credit | Since 2020 | Member of Investment Committees for U.S. loan/CLO/liquid & illiquid credit |
| Other public company boards | None | — | — |
Board Governance
- Classification and leadership: Basmadjian is an Interested Trustee by virtue of employment with the Adviser and serves as Chair of the Board; the Board does not currently have a Lead Independent Trustee and relies on committee composition to address potential conflicts from an interested Chair .
- Board composition: Five Trustees; three are Independent Trustees (Garbin, Handa, McCabe) .
- Committees and independence: Audit Committee (Handa chair; Garbin, McCabe), Nominating & Governance Committee (McCabe chair; Garbin, Handa), and Independent Trustees Committee (Garbin chair; McCabe, Handa) are composed entirely of Independent Trustees; Basmadjian is not listed as a member of any committee .
- Attendance: The Board met five times in FY ended Sept 30, 2024; each Trustee then serving attended at least 75% of Board and applicable committee meetings .
- Executive sessions: Independent Trustees meet separately at each regular Board meeting and with the Fund’s CCO at least once annually .
- Annual meeting attendance policy: The Fund does not require Trustees to attend its Annual Meeting of Shareholders .
Committee Memberships & Roles (Context)
| Committee | Members | Chair | Lauren’s Involvement |
|---|---|---|---|
| Audit Committee | Sanjeev Handa, Mark Garbin, Joan McCabe (all independent) | Sanjeev Handa | Not a member (committee limited to independent trustees) |
| Nominating & Governance Committee | Joan McCabe, Mark Garbin, Sanjeev Handa (all independent) | Joan McCabe | Not a member (committee limited to independent trustees) |
| Independent Trustees Committee | Mark Garbin, Joan McCabe, Sanjeev Handa (all independent) | Mark Garbin | Not a member (committee limited to independent trustees) |
Fixed Compensation
| Component (FY ended 9/30/2024) | Amount |
|---|---|
| Aggregate Compensation from the Fund | None ($0) |
| Annual retainer (cash) | Not applicable; interested trustees are not compensated by the Fund |
| Committee membership/Chair fees | Not applicable (not a committee member; Fund does not compensate interested trustees) |
| Meeting fees | Not applicable; Fund does not compensate interested trustees |
Performance Compensation
| Component | Disclosure |
|---|---|
| Stock awards (RSUs/PSUs) | None disclosed; interested trustees receive no Fund compensation |
| Option awards | None disclosed; interested trustees receive no Fund compensation |
| Cash bonus (target vs. paid) | None disclosed at the Fund level for interested trustees |
| Performance metrics tied to pay (TSR, EBITDA, ESG) | None disclosed for directors; interested trustees not compensated by the Fund |
| Vesting schedules / dates | None disclosed |
| Severance / Change‑of‑Control (single/double trigger) | None disclosed for directors |
| Clawbacks / Gross‑ups | None disclosed for directors |
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None |
| Fund complex oversight | Oversees 1 registered investment company in the Fund complex |
| Adviser affiliation | Interested trustee status due to affiliation with Carlyle Global Credit Investment Management L.L.C. |
| Significant shareholder interlock | The Carlyle Group beneficially owns ~22.91% of CCIF common shares with shared voting/dispositive power |
| Committee roles elsewhere | Sits on Carlyle investment committees for US loan/CLO/liquid & illiquid credit |
Expertise & Qualifications
- Deep credit markets expertise: 20+ years across leveraged loans, structured credit, CLOs; senior roles at Carlyle and Octagon; investment committee experience .
- Portfolio management track record: Managed XAI Octagon Floating Rate & Alternative Income Term Trust; led workouts and sector coverage across multiple industries .
- Education: Graduated cum laude, NYU Stern School of Business, B.S. in Finance & Economics .
Equity Ownership
| Measure | Value |
|---|---|
| Dollar range of equity securities in CCIF (as of 6/30/2025) | $100,001–$500,000 |
| Aggregate dollar range in all registered investment companies overseen (family) | $100,001–$500,000 |
| Outstanding shares at record date (context) | 21,157,035 Common; 2,103,517 Preferred |
| Combined insiders’ ownership (Trustees, Nominees, officers as a group) | Less than 1% of outstanding shares (as of 6/30/2025) |
Governance Assessment
- Strengths: Extensive credit expertise and investment committee experience that is directly relevant to CCIF’s loan/CLO strategy; serves as Board Chair providing strategic guidance; independent trustees populate key committees (Audit, Nominating & Governance, Independent Trustees) to provide oversight and mitigate conflicts .
- Independence and conflicts: Basmadjian is an Interested Trustee due to her employment with the Adviser and is Chair of the Board—a structural conflict risk; the Board lacks a Lead Independent Trustee, relying on committee composition as the mitigant .
- Ownership alignment: Holds a material personal dollar range in CCIF ($100,001–$500,000), but the group of insiders collectively owns <1% of shares; no disclosure of pledging or hedging, and no director equity grants from the Fund for interested trustees, limiting pay‑for‑performance alignment via Fund‑level awards .
- Attendance and engagement: Board met five times in FY 2024; each Trustee attended at least 75% of Board and applicable committees—adequate but not indicating full attendance; the Fund does not require Trustees to attend the annual meeting, which may limit shareholder engagement optics .
- RED FLAGS: Interested Chair without a Lead Independent Trustee; Adviser affiliation and large Carlyle ownership stake (~22.91% of common) create potential related‑party influence; limited disclosure of director‑level performance‑linked compensation/ownership guidelines at the Fund level .