On March 27, 2025, Carlyle Secured Lending, Inc. completed the acquisition of Carlyle Secured Lending III, resulting in the exchange of 2,000,000 preferred shares for 3,004,808 common shares, and issued approximately 18,935,108 common shares to former CSL III shareholders. Additionally, CGBD entered into a loan agreement with a borrowing capacity of $250 million, with $206 million outstanding as of the same date.