Exhibit 99

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q



ý	QUARTERLY PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2017



¨	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 814-01117

CAREY CREDIT INCOME FUND

(Exact name of registrant as specified in its charter)



Delaware		47-2039472
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
50 Rockefeller Plaza, New York, New York		10020
(Address of principal executive offices)		(Zip Code)
Registrant’s telephone number, including area code: (212) 492-1100

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ¨ No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer," “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.



Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	ý Do not check if smaller reporting company	Smaller reporting company	¨
Emerging growth company	¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act			¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No ý

The number of the Registrant's common shares outstanding as of May 5, 2017 was 28,027,189.

CAREY CREDIT INCOME FUND

INDEX



		PAGE
PART I. FINANCIAL INFORMATION

Item 1.	Consolidated Financial Statements (unaudited):

	Consolidated Statements of Assets and Liabilities as of March 31, 2017 and December 31, 2016	3

	Consolidated Statements of Operations for the three months ended March 31, 2017 and 2016	4

	Consolidated Statements of Changes in Net Assets for the three months ended March 31, 2017 and 2016	5

	Consolidated Statements of Cash Flows for the three months ended March 31, 2017 and 2016	6

	Consolidated Schedules of Investments as of March 31, 2017 and December 31, 2016	7

	Notes to Consolidated Financial Statements	16

Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	32

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	45

Item 4.	Controls and Procedures	45

PART II. OTHER INFORMATION

Item 1.	Legal Proceedings	46

Item 1A.	Risk Factors	46

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	46

Item 3.	Defaults Upon Senior Securities	46

Item 5.	Other Information	46

Item 6.	Exhibits	46

Signatures		47

Exhibit Index		48

Forward-Looking Statements

This Quarterly Report on Form 10-Q, or this Report, including Management's Discussion and Analysis of Financial Condition and Results of Operations in Item 2 of Part I of this Report, contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Exchange Act. These forward-looking statements generally are characterized by the use of terms such as “may,” “should,” “plan,” “anticipate,” “estimate,” “intend,” “predict,” “believe,” “expect,” “will,” “will be,” and “project” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, our actual results could differ materially from those set forth in the forward-looking statements. Some factors that might cause such a difference include the following: increased direct competition; changes in government regulations; changes in local, national, and global economic and capital market conditions; our ability to obtain or maintain credit lines or credit facilities on satisfactory terms; changes in interest rates; availability of proceeds from our private offering of common shares; our ability to identify suitable investments and/or to close on identified investments; the performance of our investments; and the ability of borrowers related to our debt investments to make payments under their respective loans. Our actual results could differ materially from those implied or expressed in the forward-looking statements for any reason. You should exercise caution in relying on forward-looking statements as they involve known and unknown risks, uncertainties, and other factors that may materially affect our future results, performance, achievements, or transactions. Information on factors which could impact actual results and cause them to differ from what is anticipated in the forward-looking statements contained herein is included in this Report as well as in our other filings with the SEC, including but not limited to those described in Part II. Item 1A. Risk Factors of this Report and in Part I. Item 1A. Risk Factors of our Form 10-K for the fiscal year ended December 31, 2016, that was filed on March 21, 2017. Moreover, because we operate in a very competitive and rapidly changing environment, new risks are likely to emerge from time to time. Given these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements as a prediction of future results, which apply only as of the date of this Report, unless noted otherwise. Except as may be required by federal securities laws and the rules and regulations of the SEC, we do not undertake to revise or update any forward-looking statements. The forward-looking statements should be read in light of the risk factors identified in Part II. Item 1A. Risk Factors of this Report. The forward-looking statements and projections contained in this Report are excluded from the safe harbor protection provided by Section 27A of the Securities Act and Section 21E of the Exchange Act.

All references to “Note” or “Notes” throughout this Report refer to the notes to the consolidated financial statements of the registrant in Part I. Item 1. Consolidated Financial Statements (unaudited).

Unless otherwise noted, the terms “we,” “us,” “our,” and “Master Fund” refer to Carey Credit Income Fund. All capitalized terms have the same meaning as defined in the Notes.

PART I. FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements (unaudited)

CAREY CREDIT INCOME FUND

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (UNAUDITED)

(in thousands, except share and per share amounts)



	March 31, 2017			December 31, 2016
Assets
Investments at fair value (amortized cost of $326,619 and $272,996, respectively)	$	330,040		$	275,084
Cash	25,649			6,593
Restricted cash	22,644			19,575
Deferred offering costs	37			68
Interest and dividend income receivable	1,159			1,557
Principal receivable	2,562			2,521
Prepaid and deferred expenses	107			34
Total assets	$	382,198		$	305,432

Liabilities
Credit facility payable, net of financing costs	$	124,623		$	124,505
Payable for investments purchased	18,533			1,093
Accrued investment advisory fee	600			489
Accrued performance-based incentive fee	1,001			536
Unrealized depreciation on derivative instruments	201			8
Payable to related party	25			33
Trustees fees payable	40			—
Accrued professional services fees	521			436
Accounts payable, accrued expenses and other liabilities	256			266
Total liabilities	145,800			127,366
Commitments and contingencies (Note 8. Commitments and Contingencies)
Net Assets	$	236,398		$	178,066

Components of Net Assets:
Common Shares, $0.001 par value, 1,000,000,000 shares authorized, 27,636,857 and 21,016,797 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	$	28		$	21
Paid-in-capital in excess of par value	232,845			176,411
Accumulated distributions in excess of net investment income	(826		)	(445		)
Accumulated undistributed net realized gain	1,131			—
Net unrealized appreciation	3,220			2,079
Net assets	$	236,398		$	178,066
Net asset value per Common Share	$	8.55		$	8.47

See Unaudited Notes to Consolidated Financial Statements.

CAREY CREDIT INCOME FUND

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(in thousands, except share and per share amounts)



	Three Months Ended March 31,
	2017			2016
Investment Income
Interest income	$	5,817		$	1,654
Dividend income	—			37
Fee income	355			—
Total investment income	6,172			1,691
Operating Expenses
Interest expense	1,497			428
Administrative services	45			25
Related party reimbursements	110			98
Investment advisory fee	1,657			457
Performance-based incentive fee	465			—
Custody services	1			14
Trustees fees	112			77
Professional services fees	310			285
Insurance	35			36
Other expenses	21			43
Total operating expenses	4,253			1,463
Net investment income	1,919			228

Realized and unrealized gain (loss):
Net realized gains (losses) on:
Investments	961			110
Derivative instruments	222			—
Foreign currency transactions	(52		)	—
Net realized gains	1,131			110
Net change in unrealized appreciation (depreciation) on:
Investments	1,334			(563		)
Derivative instruments	(193		)	—
Net change in unrealized appreciation (depreciation)	1,141			(563		)
Net realized and unrealized gains (losses)	2,272			(453		)
Net increase (decrease) in net assets resulting from operations	$	4,191		$	(225	)
Per Common Share information:
Net investment income per Common Share outstanding - basic and diluted	$	0.08		$	0.04
Earnings (loss) per Common Share - basic and diluted (Note 9. Earnings Per Common Share)	$	0.18		$	(0.04	)
Weighted average Common Shares outstanding (basic and diluted)	23,555,175			6,393,423
Distributions per Common Share	$	0.09		$	0.05

See Unaudited Notes to Consolidated Financial Statements.

CAREY CREDIT INCOME FUND

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)

(in thousands, except share amounts)



	Three Months Ended March 31,
	2017			2016
Operations
Net investment income	$	1,919		$	228
Net realized gains	1,131			110
Net change in unrealized appreciation (depreciation)	1,141			(563		)
Net increase (decrease) in net assets resulting from operations	4,191			(225		)
Shareholder distributions:
Distributions from net investment income	(1,919		)	(243		)
Distributions in excess of net investment income	(381		)	(107		)
Net decrease in net assets resulting from shareholder distributions	(2,300		)	(350		)
Capital share transactions:
Issuance of Common Shares	56,441			13,610
Net increase in net assets resulting from capital share transactions	56,441			13,610
Total increase in net assets	58,332			13,035
Net assets at beginning of period	178,066			46,704
Net assets at end of period	$	236,398		$	59,739
Capital share activity:
Common Shares outstanding at the beginning of the period	21,016,797			5,840,060
Common Shares issued from subscriptions	6,620,060			1,726,147
Common Shares outstanding at the end of the period	27,636,857			7,566,207
Accumulated distributions in excess of net investment income	$	(826	)	$	(107	)

See Unaudited Notes to Consolidated Financial Statements.

CAREY CREDIT INCOME FUND

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(in thousands)



	Three Months Ended March 31,
	2017			2016
Operating activities
Net increase (decrease) in net assets resulting from operations	$	4,191		$	(225	)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities:
Paid-in-kind dividend income	—			(37		)
Amortization of premium/accretion on investments, net	(322		)	(74		)
Proceeds from sales of investments	9,090			3,117
Proceeds from paydowns on investments	25,350			4,707
Purchase of investments	(86,779		)	(16,725		)
Net realized gain on investments	(961		)	(110		)
Net change in unrealized (appreciation) depreciation on investments	(1,334		)	563
Net change in unrealized depreciation on derivative instruments	193			—
Amortization of deferred financing costs	118			114
(Increase) decrease in operating assets:
Deferred offering costs	31			—
Interest and dividend income receivable	398			10
Principal receivable	(41		)	14
Prepaid and deferred expenses	(73		)	(105		)
Increase (decrease) in operating liabilities:
Payable for investments purchased	17,440			4,276
Accrued investment advisory fee	111			14
Accrued performance-based incentive fee	465			—
Payable to related party	(8		)	(1		)
Accrued professional services fees	85			123
Trustees fees payable	40			28
Accounts payable, accrued expenses and other liabilities	(10		)	(45		)
Net cash used in operating activities	(32,016		)	(4,356		)
Financing activities
Issuance of Common Shares	56,441			13,610
Payment of financing costs	—			(219		)
Distributions paid	(2,300		)	(350		)
Net cash provided by financing activities	54,141			13,041
Net increase in restricted and unrestricted cash	22,125			8,685
Restricted and unrestricted cash, beginning of period	26,168			9,925
Restricted and unrestricted cash, end of period	$	48,293		$	18,610
Reconciliation of restricted and unrestricted cash
Cash	25,649			9,374
Restricted cash	22,644			9,236
Total restricted and unrestricted cash	$	48,293		$	18,610
Supplemental disclosure of cash flow information:
Cash paid for interest	$	1,338		$	313

See Unaudited Notes to Consolidated Financial Statements.

CAREY CREDIT INCOME FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (UNAUDITED)



March 31, 2017 (in thousands)
Portfolio Company ^{(1) (2) (3)}	Footnotes	Industry	Interest Rate ⁽⁴⁾	Base Rate Floor ⁽⁴⁾		Maturity Date	Principal Amount/ No. Shares ⁽⁵⁾	Cost ⁽⁶⁾			Fair Value			% of Net Assets
Senior Secured Loans - First Lien - 97.7%
Accuride Corp.	(12)(14)	Automotive	L+7.00%	1.00	%	11/10/2023	11,970	$	11,551		$	11,985		5.0	%
Advanced Integration Technology	(11)(12)	Aerospace & Defense	L+5.50%	1.00	%	7/22/2021	11,950	11,738			12,055			5.1	%
Advicent Solutions	(12)(17)	Technology	L+8.25%	1.00	%	2/28/2024	7,180	7,005			7,007			3.0	%
American Academy Holdings, LLC	(12)(14)(17)	Healthcare & Pharmaceuticals	L+5.25%	1.00	%	5/17/2021	4,484	4,446			4,447			1.9	%
Bay Club Company	(12)	Hotel, Gaming & Leisure	L+6.50%	1.00	%	8/24/2022	6,501	6,321			6,574			2.8	%
BBB Industries, Inc.	(12)(17)	Automotive	L+5.00%	1.00	%	11/3/2021	9,675	9,553			9,705			4.1	%
Belk Inc.	(11)(12)(14)	Retail	L+4.75%	1.00	%	12/12/2022	2,857	2,584			2,426			1.0	%
Bioplan USA, Inc.	(12)	Containers, Packaging & Glass	L+4.75%	1.00	%	9/23/2021	5,945	5,325			5,885			2.5	%
Blue Harvest Fisheries	(12)(17)	Beverage, Food & Tobacco	L+7.00%	1.00	%	7/29/2022	6,847	6,754			6,756			2.9	%
Blue Nile Inc.	(12)	Retail	L+6.50%	1.00	%	1/20/2023	12,000	11,645			11,940			5.1	%
C-III Capital Partners	(10)(12)(14)(17)	Banking, Finance, Insurance & Real Estate	L+7.92%	1.00	%	8/8/2021	3,800	3,664			3,763			1.6	%
Chefs' Warehouse, Inc.	(10)(12)	Beverage, Food & Tobacco	L+5.75%	1.00	%	6/22/2022	3,881	3,821			3,930			1.7	%
Chefs' Warehouse, Inc.(Delayed Draw)	(10)(12)	Beverage, Food & Tobacco	L+5.75%	1.00	%	6/22/2022	179	169			181			0.1	%
Cvent, Inc.	(12)	Technology	L+5.00%	1.00	%	6/16/2023	5,400	5,344			5,434			2.3	%
Dominion Marine Media	(12)(17)	Media: Advertising, Printing & Publishing	L+5.75%	1.00	%	9/9/2022	6,965	6,890			6,891			2.9	%
Dominion Marine Media (Revolver)	(7)(17)	Media: Advertising, Printing & Publishing	L+5.75%	1.00	%	8/10/2021	1,000	(112		)	(11		)	—	%
Eco-Site (Delayed Draw)	(7)(14)(17)	Telecommunications	L+8.00%	1.00	%	2/3/2022	12,857	3,026			3,022			1.3	%
Give & Go Prepared Foods Corp.	CN(9)(10)(12)(14)	Beverage, Food & Tobacco	L+5.50%	1.00	%	7/12/2023	8,948	8,802			9,082			3.8	%
GlobalLogic Holdings Inc.	(12)(14)	Technology	L+4.50%	1.00	%	6/20/2022	967	955			974			0.4	%
Greenway Health, LLC	(12)	Technology	L+4.75%	1.00	%	2/16/2024	8,000	7,922			8,065			3.4	%
Humanetics	(11)(12)(17)	Automotive	L+6.00%	1.00	%	7/12/2022	8,586	8,370			8,430			3.6	%
Humanetics (Revolver)	(7)(17)	Automotive	L+6.00%	1.00	%	7/12/2022	400	150			107			—	%
Ilpea Parent Inc.	IT(9)(10)(12)(17)	Chemicals, Plastics & Rubber	L+5.50%	1.00	%	3/31/2023	5,900	5,812			5,893			2.5	%
Implus Footcare, LLC	(12)(14)(17)	Consumer Goods: Non-Durable	L+6.00%	1.00	%	4/30/2021	4,912	4,856			4,863			2.1	%
Implus Footcare, LLC	(12)(14)(17)	Consumer Goods: Non-Durable	L+6.25%	1.00	%	4/30/2021	953	940			951			0.4	%
Integro Insurance Brokers	(12)(14)	Banking, Finance, Insurance & Real Estate	L+5.75%	1.00	%	10/28/2022	2,764	2,671			2,778			1.2	%

CAREY CREDIT INCOME FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (UNAUDITED)



March 31, 2017 (in thousands)
Portfolio Company ^{(1) (2) (3)}	Footnotes	Industry	Interest Rate ⁽⁴⁾	Base Rate Floor ⁽⁴⁾		Maturity Date	Principal Amount/ No. Shares ⁽⁵⁾	Cost ⁽⁶⁾			Fair Value			% of Net Assets
Integro Insurance Brokers (Delayed Draw)	(12)(14)	Banking, Finance, Insurance & Real Estate	L+5.75%	1.00	%	10/7/2022	150	145			151			0.1	%
Kar Nut Products Co.	(11)(12)	Beverage, Food & Tobacco	L+4.50%	1.00	%	3/31/2024	1,000	990			990			0.4	%
Mavis Tire Supply LLC	(12)(17)	Automotive	L+5.25%	1.00	%	11/2/2020	2,948	2,916			2,918			1.2	%
Med Intermediate (MyEyeDr)	(12)(14)(17)	Retail	L+6.25%	1.00	%	8/14/2021	4,828	4,786			4,793			2.0	%
Med Intermediate (MyEyeDr) (Delayed Draw)	(7)(12)(14)(17)	Retail	L+6.25%	1.00	%	8/16/2021	1,631	(24		)	(12		)	—	%
Med Intermediate (MyEyeDr) (Term Loan B)	(12)(14)(17)	Retail	L+6.25%	1.00	%	8/16/2021	1,262	1,246			1,253			0.5	%
Moss Creek Resources	(10)(11)(17)	Energy: Oil & Gas	L+8.00%	1.00	%	3/29/2022	9,000	8,798			8,868			3.8	%
Moss Creek Resources (Delayed Draw)	(7)(10)(17)	Energy: Oil & Gas	L+8.00%	1.00	%	3/29/2022	3,000	—			(44		)	—	%
Moxie Liberty LLC	(12)(14)	Utilities: Electric	L+6.50%	1.00	%	8/21/2020	2,974	2,907			2,937			1.2	%
Moxie Patriot LLC	(12)(14)	Utilities: Electric	L+5.75%	1.00	%	12/21/2020	635	612			624			0.3	%
MRP Generation Holdings LLC	(10)(12)(14)	Utilities: Electric	L+7.00%	1.00	%	10/18/2022	4,975	4,693			4,950			2.1	%
National Technical Systems, Inc.	(12)(17)	Aerospace & Defense	L+6.25%	1.00	%	6/14/2021	4,093	4,054			3,990			1.7	%
National Technical Systems, Inc. (Delayed Draw)	(7)(12)(17)	Aerospace & Defense	L+6.25%	1.00	%	6/11/2021	765	—			(19		)	—	%
Onyx CenterSource	(12)(14)(17)	Technology	L+6.75%	1.00	%	12/20/2021	7,215	7,185			7,183			3.0	%
Onyx CenterSource (Revolver)	(7)(14)(17)	Technology	L+6.75%	1.00	%	12/20/2021	329	(41		)	(1		)	—	%
Panda Hummel LLC	(12)	Utilities: Electric	L+6.00%	1.00	%	10/27/2022	2,700	2,608			2,633			1.1	%
Parts Town, LLC	(12)(17)	Beverage, Food & Tobacco	L+6.50%	1.00	%	6/23/2022	8,465	8,450			8,465			3.6	%
Parts Town, LLC (Revolver)	(7)(13)(17)	Beverage, Food & Tobacco	P+5.50%	—	%	6/23/2022	1,000	274			274			0.1	%
Pelican Products, Inc.	(12)(14)	Containers, Packaging & Glass	L+4.25%	1.00	%	4/10/2020	5,005	4,834			5,010			2.1	%
Pet Holdings ULC	CN(9)(10)(12)	Retail	L+5.50%	1.00	%	6/23/2023	4,478	4,411			4,489			1.9	%
Pet Holdings ULC (Delayed Draw)	CN(7)(9)(10)(12)(13)	Retail	P+4.50%	1.00	%	6/23/2023	500	62			64			—	%
Planview, Inc.	(12)(17)	Technology	L+5.25%	1.00	%	1/18/2023	4,388	4,324			4,325			1.8	%
QLIK Technologies Inc.	(10)(12)(17)	Technology	L+8.25%	1.00	%	8/22/2022	7,960	7,807			8,224			3.5	%
Reddy Ice	(12)(13)	Beverage, Food & Tobacco	L+5.50%	1.25	%	5/1/2019	3,644	3,500			3,589			1.5	%
Ryan LLC	(12)	Services: Business	L+5.75%	1.00	%	8/7/2020	1,513	1,496			1,500			0.6	%
SiteOne Landscape Supply, Inc.	(12)	Construction & Building	L+4.50%	1.00	%	4/29/2022	4,950	4,904			5,006			2.1	%
TIBCO Software Inc.	(12)	Technology	L+4.50%	1.00	%	12/4/2020	1,709	1,718			1,731			0.7	%
Tronair Inc.	(12)(14)	Aerospace & Defense	L+4.75%	1.00	%	9/8/2023	3,980	3,943			3,960			1.7	%
Sub Total Senior Secured Loans - First Lien							250,018	$	226,800		$	230,984		97.7	%

CAREY CREDIT INCOME FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (UNAUDITED)



March 31, 2017 (in thousands)
Portfolio Company ^{(1) (2) (3)}	Footnotes	Industry	Interest Rate ⁽⁴⁾		Base Rate Floor ⁽⁴⁾		Maturity Date	Principal Amount/ No. Shares ⁽⁵⁾	Cost ⁽⁶⁾		Fair Value		% of Net Assets
Senior Secured Loans - Second Lien - 22.8%
Advanced Computer Software	UK(9)(10)(11)(12)(14)	Technology	L+9.50%		1.00	%	1/31/2023	6,000	5,519		5,535		2.4	%
Cologix Holdings	(11)(12)	Technology	L+7.00%		1.00	%	2/7/2024	3,000	2,970		3,007		1.3	%
CTI Foods	(12)(14)	Beverage, Food & Tobacco	L+7.25%		1.00	%	6/28/2021	5,000	4,656		4,550		1.9	%
Cvent, Inc.	(12)(17)	Technology	L+10.00%		1.00	%	5/29/2024	5,386	5,084		5,191		2.2	%
Planview, Inc.	(12)(17)	Technology	L+9.75%		1.00	%	8/9/2022	4,388	4,323		4,325		1.8	%
ProQuest LLC	(12)	Media: Broadcasting & Subscription	L+9.00%		1.00	%	12/15/2022	1,235	1,210		1,198		0.5	%
SRS Distribution Inc.	(12)(14)	Construction & Building	L+8.75%		1.00	%	2/24/2023	6,790	6,701		7,062		3.0	%
Tronair Inc.	(12)(14)(17)	Aerospace & Defense	L+8.75%		1.00	%	9/6/2024	4,000	3,868		3,869		1.6	%
Welcome Break	UK(9)(10)(12)(16)(17)	Hotel, Gaming & Leisure	L+8.00%		1.00	%	12/13/2022	7,477	7,368		7,397		3.1	%
WIRB-Copernicus Group	(12)(14)(17)	Healthcare & Pharmaceuticals	L+9.00%		1.00	%	8/12/2022	12,000	11,797		11,827		5.0	%
Sub Total Senior Secured Loans - Second Lien								55,276	$	53,496	$	53,961	22.8	%

Senior Secured Bonds - 5.1%
BreitBurn Energy Partners LP	(10)(12)(17)(18)	Energy: Oil & Gas	9.25	%	—	%	5/18/2020	3,250	3,153		3,252		1.4	%
Epicor Software Corp.	(12)(17)	Technology	L+8.25%		1.00	%	5/21/2023	5,000	4,874		4,885		2.1	%
KeHE Distributors, LLC	(12)	Beverage, Food & Tobacco	7.63	%	—	%	8/15/2021	500	494		504		0.2	%
New Day Aluminum LLC	(12)(15)(14)(17)	Metals & Mining	4.00% 6.00% PIK 6.00% Max PIK		—	%	10/28/2020	22	—		20		—	%
Terraform Global Operating LLC	(10)(12)	Utilities: Electric	9.75	%	—	%	8/15/2022	3,000	2,893		3,364		1.4	%
Sub Total Senior Secured Bonds								11,772	$	11,414	$	12,025	5.1	%

Subordinated Debt - 13.8%
Alltech	(12)(16)(17)	Healthcare & Pharmaceuticals	L+6.75%		1.00	%	7/9/2023	15,003	14,809		14,822		6.3	%
Blue Harvest Fisheries	(16)	Beverage, Food & Tobacco	10.00	%	—	%	8/17/2036	337	337		337		0.1	%
Bumble Bee Seafoods	(15)	Beverage, Food & Tobacco	9.63% PIK 9.63% Max PIK		—	%	3/15/2018	1,240	1,233		1,203		0.5	%
Ferrellgas, L.P.	(10)(12)	Energy: Oil & Gas	6.50	%	—	%	5/1/2021	1,650	1,646		1,567		0.7	%
Ferrellgas, L.P.	(10)(12)	Energy: Oil & Gas	6.75	%	—	%	1/15/2022	2,950	2,859		2,788		1.2	%
Ferrellgas, L.P.	(10)(12)	Energy: Oil & Gas	6.75	%	—	%	6/15/2023	1,855	1,760		1,744		0.7	%

CAREY CREDIT INCOME FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (UNAUDITED)



March 31, 2017 (in thousands)
Portfolio Company ^{(1) (2) (3)}	Footnotes	Industry	Interest Rate ⁽⁴⁾		Base Rate Floor ⁽⁴⁾		Maturity Date	Principal Amount/ No. Shares ⁽⁵⁾	Cost ⁽⁶⁾		Fair Value			% of Net Assets
Fiber Composites LLC	(12)(15)(17)	Construction & Building	12.50% 0.00% PIK 1.00% Max PIK		—	%	6/29/2022	5,430	5,325		5,415			2.3	%
Hanger, Inc.	(10)(12)	Healthcare & Pharmaceuticals	11.50	%	—	%	8/1/2019	4,000	3,936		4,050			1.7	%
MDC Partners Inc.	(10)(12)	Services: Business	6.50	%	—	%	5/1/2024	725	649		691			0.3	%
Sub Total Subordinated Debt								33,190	$	32,554	$	32,617		13.8	%

Equity / Other - 0.2%
Blue Harvest Fisheries	(16)(19)	Beverage, Food & Tobacco	—	%	—	%		—	13		13			—	%
BreitBurn Energy Partners LP	(8)(10)(17)(19)	Energy: Oil & Gas	8.00	%	—	%		251	1,886		40			—	%
SandRidge Energy Inc.	(10)(19)	Energy: Oil & Gas	—	%	—	%		22	456		400			0.2	%
Sub Total Equity / Other								273	$	2,355	$	453		0.2	%

TOTAL INVESTMENTS - 139.6%	(20)								$	326,619	$	330,040		139.6	%

Derivative Instruments - 0.0%
Forward currency forward contracts	(10)								$	—	$	(201	)	—	%
TOTAL DERIVATIVE INSTRUMENTS									$	—	$	(201	)	—	%

CAREY CREDIT INCOME FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (UNAUDITED)

_______________________


(1)	Security may be an obligation of one or more entities affiliated with the named portfolio company.


(2)	All debt and equity investments are income producing unless otherwise noted.


(3)	All investments are non-controlled/non-affiliated investments as defined by the 1940 Act; non-controlled/non-affiliated investments are investments that are neither controlled investments nor affiliated investments.

(4)

The periodic interest rate for all floating rate loans is indexed to London Interbank Offered Rate ("LIBOR" or "LIBO rate"), (denoted as "L") or Prime Rate denoted as "P". Pursuant to the terms of the underlying credit agreements, the base interest rates typically reset annually, semi-annually, quarterly, or monthly at the borrower's option. The borrower may also elect to have multiple interest reset periods for each loan. For each of these floating rate loans, the Consolidated Schedule of Investments presents the applicable margin over LIBOR based on each respective credit agreement. Unless otherwise noted the base interest rate floor (e.g. 1.00%) for each floating rate loan indexed to LIBOR exceeded all of the relevant LIBOR indices as of the most recent interest rate reset date. As of March 31, 2017, LIBO rates ranged between 0.98278% for 1-month LIBOR to 1.14956% for 3-month LIBOR.


(5)	The principal amount (par amount) for all debt securities is denominated in thousands of U.S. dollars. Equity investments are recorded as number of shares owned.


(6)	Cost represents amortized cost for debt securities, and cost plus capitalized PIK for preferred stock; currency amounts are presented in thousands of U.S. dollars.


(7)	The investment is either a delayed draw loan or a revolving credit facility whereby some or all of the investment commitment is undrawn as of March 31, 2017 (see Note 8. Commitments and Contingencies).

(8)

The preferred stock investment contains a PIK provision, whereby the security issuer has the option to pay preferred dividends with the issuance of additional identical securities in the initial three year period after issuance. Since the initial investment date through March 2016, all dividend payments have been paid with the issuance of additional shares of preferred stock. The security issuer ceased paying PIK dividends in April 2016.


(9)	A portfolio company domiciled in a foreign country. The regulatory jurisdiction of security issuance may be a different country than the domicile of the portfolio company.


(10)	The investment is not a qualifying asset as defined in Section 55(a) of the 1940 Act. As of March 31, 2017, qualifying assets represented 79% of total assets. Under the 1940 Act we may not acquire any non-qualifying assets unless, at the time the acquisition is made, qualifying assets represent at least 70% of our total assets.


(11)	Investment position or portion thereof unsettled as of March 31, 2017.


(12)	Security or portion thereof was pledged as collateral supporting the amounts outstanding under a credit facility as of March 31, 2017; (see Note 7. Borrowings).


(13)	The base interest rate on these investments, or a portion thereof, was based on PRIME rate, which as of March 31, 2017 was 4.0%. The current base interest rate for these investments may be different from the reference rate on March 31, 2017.


(14)	The base interest rate on these investments, or a portion thereof, was 3-month LIBOR which as of March 31, 2017 was 1.14956%. The current based rate for these investments may be different from the reference rate on March 31, 2017


(15)	The underlying credit agreement or indenture contains a PIK provision, whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. The interest rate in the schedule represents the current interest rate in effect for these investments.


(16)	Investment or a portion thereof is denominated in a currency other than U.S. Dollars.


(17)	Investment classified as Level 3 in the fair value hierarchy (see Note 2. Significant Accounting Policies).


(18)	Investment was on non-accrual status as of March 31, 2017, meaning that the Company has ceased recognizing interest income on these investments.


(19)	Non-income producing security.

(20)

As of March 31, 2017, the aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost was $6.0 million; the aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value was $2.6 million; the net unrealized appreciation was $3.4 million, the aggregate cost of securities for Federal income purposes was $326.6 million.

Abbreviations:

CN = Canada; UK = United Kingdom; IT = Italy

PIK = Payment-In-Kind

See Unaudited Notes to Consolidated Financial Statements.

CAREY CREDIT INCOME FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS



December 31, 2016 (in thousands)
Portfolio Company ^{(1) (2) (3)}	Footnotes	Industry	Interest Rate ⁽⁴⁾	Base Rate Floor ⁽⁴⁾		Maturity Date	Principal Amount/ No. Shares ⁽⁵⁾	Cost ⁽⁶⁾			Fair Value			% of Net Assets
Senior Secured Loans - First Lien - 104.1%
Accuride International Inc.	(12)	Automotive	L+7.00%	1.00	%	11/10/2023	12,000	$	11,580		$	11,760		6.7	%
Advanced Integration Technology	(12)	Aerospace & Defense	L+5.50%	1.00	%	7/22/2021	7,980	7,757			8,020			4.5	%
American Academy Holdings, LLC	(12)(16)	Healthcare & Pharmaceuticals	L+5.25%	1.00	%	5/17/2021	4,484	4,444			4,445			2.5	%
Bay Club Company	(12)	Hotel, Gaming & Leisure	L+6.50%	1.00	%	8/24/2022	6,517	6,330			6,574			3.7	%
Bay Club Company (Bridge Loan)	(12)	Hotel, Gaming & Leisure	L+6.50%	1.00	%	8/24/2017	1,450	1,430			1,443			0.8	%
BBB Industries, Inc.	(12)(16)	Automotive	L+5.00%	1.00	%	11/3/2021	4,975	4,871			4,984			2.8	%
Belk Inc.	(12)	Retail	L+4.75%	1.00	%	12/12/2022	4,464	3,987			3,865			2.2	%
Bioplan USA, Inc.	(12)	Containers, Packaging & Glass	L+4.75%	1.00	%	9/23/2021	5,960	5,310			5,766			3.2	%
Blue Harvest Fisheries	(12)(16)	Beverage, Food & Tobacco	L+7.00%	1.00	%	7/29/2022	6,866	6,769			6,770			3.8	%
C-III Capital Partners	(10)(12)(16)	Banking, Finance, Insurance & Real Estate	L+5.00%	1.00	%	8/8/2021	3,120	3,076			3,077			1.7	%
C-III Capital Partners	(10)(12)(16)	Banking, Finance, Insurance & Real Estate	L+7.92%	1.00	%	8/8/2021	4,680	4,504			4,507			2.5	%
Chefs' Warehouse, Inc.	(10)(12)	Beverage, Food & Tobacco	L+4.75%	1.00	%	6/22/2022	3,893	3,830			3,919			2.2	%
Chefs' Warehouse, Inc.(Delayed Draw)	(10)(12)	Beverage, Food & Tobacco	L+4.75%	1.00	%	6/22/2022	179	169			181			0.1	%
Cvent, Inc.	(12)	Technology	L+5.00%	1.00	%	6/16/2023	5,400	5,340			5,468			3.1	%
Dominion Marine Media	(12)(16)	Media: Advertising, Printing & Publishing	L+5.75%	1.00	%	9/9/2022	7,000	6,922			6,922			3.9	%
Dominion Marine Media (Revolver)	(7)(16)	Media: Advertising, Printing & Publishing	L+5.75%	1.00	%	8/10/2021	1,000	(118		)	(11		)	—	%
Generation Brands	(12)	Construction & Building	L+5.00%	1.00	%	6/7/2022	4,975	4,930			4,997			2.8	%
Give & Go Prepared Foods Corp.	CN(9)(10)(12)	Beverage, Food & Tobacco	L+5.50%	1.00	%	7/12/2023	7,980	7,829			8,010			4.5	%
GlobalLogic Holdings Inc.	(12)	Technology	L+4.50%	1.00	%	6/30/2022	857	844			858			0.5	%
Greenway Health, LLC	(12)	Technology	L+5.00%	1.00	%	11/4/2020	4,812	4,636			4,788			2.7	%
Humanetics	(11)(12)(16)	Automotive	L+6.00%	1.00	%	7/12/2022	8,605	8,380			8,441			4.7	%
Humanetics (Revolver)	(7)(16)	Automotive	L+6.00%	1.00	%	7/12/2022	400	(10		)	(8		)	—	%
Implus Footcare, LLC	(12)(16)	Consumer Goods: Non-Durable	L+6.00%	1.00	%	4/30/2021	4,925	4,865			4,872			2.7	%
Implus Footcare, LLC	(12)(16)	Consumer Goods: Non-Durable	L+6.25%	1.00	%	4/30/2021	955	941			953			0.5	%
Integro Insurance Brokers	(12)	Banking, Finance, Insurance & Real Estate	L+5.75%	1.00	%	10/28/2022	2,771	2,674			2,743			1.5	%
Integro Insurance Brokers (Delayed Draw)	(12)	Banking, Finance, Insurance & Real Estate	L+5.75%	1.00	%	10/7/2022	150	145			149			0.1	%
Mavis Tire Supply LLC	(12)(16)	Automotive	L+5.25%	1.00	%	11/2/2020	2,955	2,921			2,923			1.6	%
Med Intermediate (MyEyeDr)	(12)(16)	Retail	L+6.25%	1.00	%	8/14/2021	4,841	4,796			4,803			2.7	%
Med Intermediate (MyEyeDr) (Delayed Draw)	(7)(12)(16)	Retail	L+6.25%	1.00	%	8/16/2021	1,631	(24		)	(13		)	—	%
Med Intermediate (MyEyeDr) (Term Loan B)	(12)(16)	Retail	L+6.25%	1.00	%	8/16/2021	1,269	1,248			1,256			0.7	%

CAREY CREDIT INCOME FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS



December 31, 2016 (in thousands)
Portfolio Company ^{(1) (2) (3)}	Footnotes	Industry	Interest Rate ⁽⁴⁾	Base Rate Floor ⁽⁴⁾		Maturity Date	Principal Amount/ No. Shares ⁽⁵⁾	Cost ⁽⁶⁾			Fair Value			% of Net Assets
Moxie Liberty LLC	(12)	Utilities: Electric	L+6.50%	1.00	%	8/21/2020	2,981	2,910			2,948			1.7	%
Moxie Patriot LLC	(12)	Utilities: Electric	L+5.75%	1.00	%	12/21/2020	636	613			633			0.4	%
MRP Generation Holdings LLC	(10)(12)	Utilities: Electric	L+7.00%	1.00	%	10/18/2022	4,988	4,695			4,950			2.8	%
National Technical Systems, Inc.	(12)(16)	Aerospace & Defense	L+6.25%	1.00	%	6/14/2021	4,092	4,052			3,990			2.2	%
National Technical Systems, Inc. (Delayed Draw)	(7)(12)(16)	Aerospace & Defense	L+6.25%	1.00	%	6/11/2021	765	—			(19		)	—	%
Onyx CenterSource	(12)(16)	Technology	L+6.75%	1.00	%	12/20/2021	7,233	7,199			7,199			4.1	%
Onyx CenterSource (Revolver)	(7)(16)	Technology	L+6.75%	1.00	%	12/20/2021	329	(41		)	(2		)	—	%
Panda Hummel LLC	(12)	Utilities: Electric	L+6.00%	1.00	%	10/27/2022	2,700	2,605			2,604			1.5	%
Parts Town, LLC	(12)(16)	Beverage, Food & Tobacco	L+6.50%	1.00	%	6/23/2022	6,983	6,983			6,983			3.9	%
Parts Town, LLC (Revolver)	(7)(13)(16)	Beverage, Food & Tobacco	P+5.50%	—	%	6/23/2022	1,000	5			5			—	%
Pelican Products, Inc.	(12)	Containers, Packaging & Glass	L+4.25%	1.00	%	4/10/2020	5,018	4,833			5,002			2.8	%
Pet Holdings ULC	CN(9)(10)(12)	Retail	L+5.50%	1.00	%	6/1/2023	4,489	4,419			4,506			2.5	%
Pet Holdings ULC (Delayed Draw)	CN(7)(9)(10)(12)	Retail	L+5.50%	1.00	%	6/1/2023	500	—			2			—	%
QLIK Technologies Inc.	(10)(12)(16)	Technology	L+8.25%	1.00	%	8/22/2022	7,980	7,820			7,835			4.4	%
Reddy Ice	(12)(13)	Beverage, Food & Tobacco	L+5.50%	1.25	%	5/1/2019	3,654	3,493			3,584			2.0	%
Ryan LLC	(12)	Services: Business	L+5.75%	1.00	%	8/7/2020	1,989	1,966			1,978			1.1	%
SiteOne Landscape Supply, Inc.	(12)	Construction & Building	L+4.50%	1.00	%	4/29/2022	4,963	4,914			5,012			2.8	%
TIBCO Software Inc.	(12)	Technology	L+5.50%	1.00	%	12/4/2020	1,714	1,721			1,724			1.0	%
Tronair Inc.	(12)	Aerospace & Defense	L+4.75%	1.00	%	9/8/2023	3,960	3,922			3,940			2.2	%
Sub Total Senior Secured Loans - First Lien							193,068	$	182,485		$	185,336		104.1	%

Senior Secured Loans - Second Lien - 24.9%
Advanced Computer Software	UK(9)(10)(12)	Technology	L+9.50%	1.00	%	1/31/2023	4,100	3,734			3,726			2.1	%
CTI Foods	(12)	Beverage, Food & Tobacco	L+7.25%	1.00	%	6/28/2021	5,000	4,640			4,550			2.6	%
Cvent, Inc.	(12)(16)	Technology	L+10.00%	1.00	%	5/29/2024	5,385	5,070			5,184			2.9	%
Greenway Health, LLC	(12)	Technology	L+8.25%	1.00	%	11/4/2021	5,000	4,791			4,875			2.7	%
Planview, Inc.	(12)(16)	Technology	L+9.50%	1.00	%	8/9/2022	8,000	7,848			7,852			4.4	%
ProQuest LLC	(12)	Media: Broadcasting & Subscription	L+9.00%	1.00	%	12/15/2022	1,312	1,286			1,273			0.7	%
SRS Distribution Inc.	(12)	Construction & Building	L+8.75%	1.00	%	2/24/2023	5,000	4,907			5,167			2.9	%
Tronair Inc.	(12)(16)	Aerospace & Defense	L+8.75%	1.00	%	9/6/2024	4,000	3,864			3,864			2.2	%
WIRB-Copernicus Group	(12)(16)	Healthcare & Pharmaceuticals	L+9.00%	1.00	%	8/12/2022	8,000	7,850			7,849			4.4	%
Sub Total Senior Secured Loans - Second Lien							45,797	$	43,990		$	44,340		24.9	%

CAREY CREDIT INCOME FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS



December 31, 2016 (in thousands)
Portfolio Company ^{(1) (2) (3)}	Footnotes	Industry	Interest Rate ⁽⁴⁾		Base Rate Floor ⁽⁴⁾		Maturity Date	Principal Amount/ No. Shares ⁽⁵⁾	Cost ⁽⁶⁾		Fair Value		% of Net Assets
Senior Secured Bonds - 6.5%
BreitBurn Energy Partners LP	(10)(12)(16)(17)	Energy: Oil & Gas	9.25	%	—	%	5/18/2020	3,250	3,152		3,023		1.7	%
Epicor Software Corp.	(12)(16)	Technology	L+8.25%		1.00	%	5/21/2023	5,000	4,869		4,885		2.7	%
KeHE Distributors, LLC	(12)	Beverage, Food & Tobacco	7.63	%	—	%	8/15/2021	500	494		497		0.3	%
New Day Aluminum LLC	(12)(14)(16)	Metals & Mining	4.00% 6.00% PIK 6.00% Max PIK		—	%	10/28/2020	24	—		24		—	%
Terraform Global Operating LLC	(10)(12)	Utilities: Electric	9.75	%	—	%	8/15/2022	3,000	2,890		3,202		1.8	%
Sub Total Senior Secured Bonds								11,774	$	11,405	$	11,631	6.5	%

Subordinated Debt - 18.8%
Alltech	(12)(15)(16)	Healthcare & Pharmaceuticals	L+6.75%		1.00	%	7/9/2023	15,003	14,799		14,805		8.3	%
Blue Harvest Fisheries	(16)	Beverage, Food & Tobacco	10.00	%	—	%	8/17/2036	337	337		337		0.2	%
Bumble Bee Seafoods	(14)	Beverage, Food & Tobacco	9.63% PIK 9.63% Max PIK		—	%	3/15/2018	1,240	1,231		1,206		0.7	%
Ferrellgas, L.P.	(10)(12)	Energy: Oil & Gas	6.50	%	—	%	5/1/2021	350	330		347		0.2	%
Ferrellgas, L.P.	(10)(12)	Energy: Oil & Gas	6.75	%	—	%	1/15/2022	1,800	1,707		1,782		1.0	%
Ferrellgas, L.P.	(10)(12)	Energy: Oil & Gas	6.75	%	—	%	6/15/2023	1,355	1,254		1,331		0.7	%
Fiber Composites LLC	(12)(14)(16)	Construction & Building	12.50% 0.00% PIK 1.00% Max PIK		—	%	6/29/2022	5,430	5,321		5,410		3.0	%
Hanger, Inc.	(10)(12)	Healthcare & Pharmaceuticals	11.50	%	—	%	8/1/2019	4,000	3,929		4,000		2.2	%
MDC Partners Inc.	(10)(12)	Services: Business	6.50	%	—	%	5/1/2024	925	816		833		0.5	%
SandRidge Energy Inc.	(10)	Energy: Oil & Gas	—	%	—	%	10/3/2020	226	254		282		0.2	%
StandardAero	(12)	Aerospace & Defense	10.00	%	—	%	7/15/2023	2,380	2,367		2,505		1.4	%
TIBCO Software Inc.	(12)	Technology	11.38	%	—	%	12/1/2021	660	670		660		0.4	%
Sub Total Subordinated Debt								33,706	$	33,015	$	33,498	18.8	%

Equity / Other - 0.2%
Blue Harvest Fisheries	(16)	Beverage, Food & Tobacco	—	%	—	%		—	13		13		—	%
BreitBurn Energy Partners LP	(8)(10)(16)(18)	Energy: Oil & Gas	8.00	%	—	%		251	1,886		40		—	%
SandRidge Energy Inc.	(10)(18)	Energy: Oil & Gas	—	%	—	%		10	202		226		0.2	%
Sub Total Equity / Other								261	$	2,101	$	279	0.2	%

TOTAL INVESTMENTS - 154.5%	(19)								$	272,996	$	275,084	154.5	%

CAREY CREDIT INCOME FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS



December 31, 2016 (in thousands)
Portfolio Company ^{(1) (2) (3)}	Footnotes	Industry	Interest Rate ⁽⁴⁾	Base Rate Floor ⁽⁴⁾	Maturity Date	Principal Amount/ No. Shares ⁽⁵⁾	Cost ⁽⁶⁾		Fair Value			% of Net Assets
Derivative Instruments - 0.0%
Forward currency forward contracts	(10)						$	—	$	(8	)	—	%
TOTAL DERIVATIVE INSTRUMENTS							$	—	$	(8	)	—	%

______________________


(1)	Security may be an obligation of one or more entities affiliated with the named portfolio company.


(2)	All debt and equity investments are income producing unless otherwise noted.


(3)	All investments are non-controlled/non-affiliated investments as defined by the 1940 Act; non-controlled/non-affiliated investments are investments that are neither controlled investments nor affiliated investments.

(4)

The periodic interest rate for all floating rate loans is indexed to London Interbank Offered Rate ("LIBOR" or "LIBO rate"), (denoted as "L") unless otherwise noted (i.e. PRIME). Pursuant to the terms of the underlying credit agreements, the base interest rates typically reset annually, semi-annually, quarterly, or monthly at the borrower's option. The borrower may also elect to have multiple interest reset periods for each loan. For each of these floating rate loans, the Consolidated Schedule of Investments presents the applicable margin over LIBOR based on each respective credit agreement. Unless otherwise noted the base interest rate floor (e.g. 1.00%) for each floating rate loan indexed to LIBOR exceeded all of the relevant LIBOR indices as of the most recent interest rate reset date. As of December 31, 2016, LIBO rates ranged between 0.77167% for 1-month LIBOR to 1.31767% for 6-month LIBOR.


(5)	The principal amount (par amount) for all debt securities is denominated in thousands of U.S. dollars. Equity investments are recorded as number of shares owned.


(6)	Cost represents amortized cost for debt securities, and cost plus capitalized PIK for preferred stock; currency amounts are presented in thousands of U.S. dollars.


(7)	The investment is either a delayed draw loan or a revolving credit facility whereby some or all of the investment commitment is undrawn as of December 31, 2016 (see Note 8. Commitments and Contingencies).

(8)


(9)	A portfolio company domiciled in a foreign country. The regulatory jurisdiction of security issuance may be a different country than the domicile of the portfolio company.


(10)	The investment is not a qualifying asset as defined in Section 55(a) of the 1940 Act. As of December 31, 2016, qualifying assets represented 82% of total assets. Under the 1940 Act we may not acquire any non-qualifying assets unless, at the time the acquisition is made, qualifying assets represent at least 70% of our total assets.


(11)	Investment position or portion thereof unsettled as of December 31, 2016.


(12)	Security or portion thereof was pledged as collateral supporting the amounts outstanding under a credit facility as of December 31, 2016; (see Note 7. Borrowings).


(13)	The base interest rate on these investments, or a portion thereof, was based on PRIME rate, which as of December 31, 2016 was 3.75%. The current base interest rate for these investments may be different from the reference rate on December 31, 2016.


(14)	The underlying credit agreement or indenture contains a PIK provision, whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. The interest rate in the schedule represents the current interest rate in effect for these investments.


(15)	Investment or a portion thereof is denominated in a currency other than U.S. Dollars.


(16)	Investment classified as Level 3 in the fair value hierarchy (see Note 2. Significant Accounting Policies).


(17)	Investment was on non-accrual status as of December 31, 2016, meaning that the Company has ceased recognizing interest income on these investments.


(18)	Non-income producing security.

(19)

As of December 31, 2016, the aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost was $4.4 million; the aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value was $2.3 million; the net unrealized appreciation was $2.1 million, the aggregate cost of securities for Federal income purposes was $273.0 million.

Abbreviations:

CN = Canada; UK = United Kingdom

PIK = Payment-In-Kind

See Unaudited Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited)

CAREY CREDIT INCOME FUND

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Note 1. Principal Business and Organization

Carey Credit Income Fund (the “Master Fund”) was formed as a Delaware statutory trust on September 5, 2014. The Master Fund's investment objectives are to provide its shareholders with current income, capital preservation, and, to a lesser extent, long-term capital appreciation by investing primarily in privately-negotiated loans to private middle market U.S. companies. On April 1, 2015, the Master Fund elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). The Master Fund commenced investment operations on April 2, 2015.

The Master Fund is externally managed by Carey Credit Advisors, LLC (the "Advisor"), an affiliate of W. P. Carey Inc. ("WPC"), and Guggenheim Partners Investment Management, LLC ("GPIM") (collectively the "Advisors"), which are responsible for sourcing potential investments, analyzing and conducting due diligence on prospective investment opportunities, structuring investments and ongoing monitoring of the Master Fund’s investment portfolio. Both Advisors are registered as investment advisers with the U.S. Securities and Exchange Commission (“SEC”). The Advisor also provides the administrative services necessary for the operation of the Master Fund.

The Master Fund serves as the master fund in a master/feeder fund structure. The Master Fund issues its Common Shares to one or more affiliated feeder funds in a continuous series of private placement transactions.

As of March 31, 2017, the Master Fund had one wholly owned subsidiary, Hamilton Finance LLC ("Hamilton"), a special purpose financing subsidiary organized for the purpose of arranging secured debt financing, entering into credit agreements, and borrowing money to invest in portfolio companies.

Note 2. Significant Accounting Policies

Basis of Presentation

Management has determined that the Master Fund meets the definition of an investment company and adheres to the accounting and reporting guidance in the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 946 — Financial Services — Investment Companies ("ASC Topic 946").

The Master Fund's interim consolidated financial statements have been prepared pursuant to the requirements for reporting on Form 10-Q and the disclosure requirements as stipulated in Articles 6 and 10 of Regulation S-X, and therefore do not necessarily include all information and notes necessary for a fair statement of financial position and results of operations in accordance with accounting principles generally accepted in the U.S. ("GAAP"). In the opinion of management, the unaudited consolidated financial information for the interim period presented in this Report reflects all normal and recurring adjustments necessary for a fair statement of financial position and results from operations. Operating results for interim periods are not necessarily indicative of operating results for an entire year.

Principles of Consolidation

As provided under ASC Topic 946, the Master Fund will generally not consolidate its investment in a company other than an investment company or an operating company whose business consists of providing substantially all of its services to the benefit of the Master Fund. Accordingly, the Master Fund consolidated the results of its wholly-owned subsidiary in its consolidated financial statements. All intercompany balances and transactions have been eliminated.

Reclassifications

Certain prior period amounts have been reclassified to conform to the current presentation, with no effect on our financial condition, results of operations or cash flows.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities at the date of the financial statements, (ii) the reported amounts of income and expenses during the reported period and (iii) disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ materially from those estimates under different assumptions and conditions.

Cash

Cash consists of demand deposits held at a major U.S. financial institution and the amount recorded on the consolidated statements of assets and liabilities exceeds the Federal Deposit Insurance Corporation insured limit. Management believes the credit risk related to its demand deposits is minimal.

Restricted Cash

Restricted cash consists of demand deposits held at a major U.S. financial institution on behalf of Hamilton. Hamilton may be restricted in the distribution of cash to the Master Fund, as governed by the terms of the Hamilton Credit Facility (see Note 7. Borrowings). Management believes the credit risk related to its demand deposits is minimal.

Notes to Consolidated Financial Statements (Unaudited)

Valuation of Investments

The Master Fund measures the value of its investments in accordance with ASC Topic 820, Fair Value Measurement (“ASC Topic 820”), issued by the FASB. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Market participants are defined as buyers and sellers in the principal or most advantageous market (which may be a hypothetical market) that are independent, knowledgeable, and willing and able to transact. In accordance with ASC Topic 820, the Master Fund considers its principal market to be the market that has the greatest volume and level of activity.

ASC Topic 820 defines hierarchical levels directly related to the amount of subjectivity associated with the inputs used to determine fair values of assets and liabilities. The hierarchical levels and types of inputs used to measure fair value for each level are described as follows:

Level 1 - Quoted prices are available in active markets for identical investments as of the reporting date. Publicly listed equities and debt securities, publicly listed derivatives, money market/short-term investment funds, and foreign currency are generally included in Level 1. The Master Fund does not adjust the quoted price for these investments.

Level 2 - Valuation inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. In certain cases, debt and equity securities are valued on the basis of prices from orderly transactions for similar investments in active markets between market participants and provided by reputable dealers or independent pricing services. In determining the value of a particular investment, independent pricing services may use certain information with respect to transactions in such investments, quotations from multiple dealers or brokers, pricing matrices, market transactions in comparable investments, and various relationships between investments. Investments generally included in this category are corporate bonds and loans.

Level 3 - Valuation inputs are unobservable for the investment and include situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant judgment or estimation. Investments generally included in this category are illiquid corporate bonds and loans and preferred stock investments that lack observable market pricing.

In certain cases, the inputs used to measure fair value may fall within different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Depending on the relative liquidity in the markets for certain investments, the Master Fund may transfer assets to Level 3 if it determines that observable quoted prices, obtained directly or indirectly, are severely limited, or not available, or otherwise not reliable. The Master Fund’s assessment of the significance of a particular input to the fair value measurement requires judgment, and the consideration of factors specific to the investment.

Investments for which market quotations are readily available are valued using market quotations, which are generally obtained from independent pricing services, broker-dealers, or market makers. With respect to the Master Fund’s portfolio investments for which market quotations are not readily available, the Master Fund’s Board of Trustees is responsible for determining in good faith the fair value of the Master Fund’s portfolio investments in accordance with the valuation policy and procedures approved by the Board of Trustees, based on, among other things, the input of the Master Fund’s Advisors and management, its audit committee, and independent third-party valuation firms. The Master Fund and the Board of Trustees conduct their fair value determination process on a quarterly basis and any other time when a decision regarding the fair value of the portfolio investments is required.

The valuation techniques used by the Master Fund for the assets that are classified as Level 3 in the fair value hierarchy are described below.

Senior Debt and Subordinated Debt: Senior debt and subordinated debt investments are valued at initial transaction price and are subsequently valued using (i) market data for similar instruments (e.g., recent transactions or indicative broker quotes), (ii) enterprise value coverage analysis, and/or (iii) valuation models. Valuation models may be based on investment yield analysis and discounted cash flow techniques, where the key inputs include risk-adjusted discount rates and required rates of return, based on the analysis of similar debt investments issued by similar issuers.

Equity/Other Investments: Equity/other investments are valued at initial transaction price and are subsequently valued using valuation models in the absence of readily observable market prices. Valuation models are generally based on (i) market and income (discounted cash flow) approaches, in which various internal and external factors are considered, and (ii) earnings before interest, taxes, depreciation and amortization ("EBITDA") multiples analysis. Factors include key financial inputs and recent public and private transactions for comparable investments. Key inputs used for the discounted cash flow approach include the weighted average cost of capital and investment terminal values derived from EBITDA multiples. An illiquidity discount may be applied where appropriate.

The Master Fund utilizes several valuation techniques that use unobservable pricing inputs and assumptions in determining the fair value of its Level 3 investments. The valuation techniques, as well as the key unobservable inputs that have a significant impact on the Master Fund’s investments classified and valued as Level 3 in the valuation hierarchy, are described in Note 5. Fair

Notes to Consolidated Financial Statements (Unaudited)

Value of Financial Instruments. The unobservable inputs and assumptions may differ by asset and in the application of the Master Fund’s valuation methodologies. The reported fair value estimates could vary materially if the Master Fund had chosen to incorporate different unobservable pricing inputs and assumptions.

The determination of fair value involves subjective judgments and estimates. Due to the inherent uncertainty of determining the fair value of portfolio investments that do not have a readily available market value, the fair value of investments may differ materially from the values that would have been determined had a readily available market value existed for such investments. Further, such investments are generally less liquid than publicly traded securities. If the Master Fund was required to liquidate a portfolio investment that does not have a readily available market value in a forced or liquidation sale, the Master Fund could realize significantly less value than the value recorded by the Master Fund.

Security Transactions and Realized/Unrealized Gains or Losses

Investments purchased on a secondary market basis are recorded on the trade date. Loan originations are recorded on the funding date. The Master Fund measures realized gains or losses from the repayment or sale of investments using the specific lot identification method. Realized gains or losses are measured by the difference between (i) the net proceeds from the repayment or sale and (ii) the amortized cost basis of the investment without regard to unrealized appreciation or depreciation previously recognized, and include investments charged off during the period, net of recoveries. Unrealized appreciation or depreciation primarily measures the change in investment values, including the reversal of previously recorded unrealized appreciation or depreciation when gains or losses are realized. The amortized cost basis of investments includes (i) the original cost, net of original issue discount and loan origination fees, if any, and (ii) adjustments for the accretion/amortization of market discounts and premiums. The Master Fund reports changes in fair value of investments as net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

Interest Income

Interest income is recorded on an accrual basis and includes amortization of premiums to par value and accretion of discounts to par value. Discounts and premiums to par value on securities purchased are accreted/amortized into interest income over the life of the respective security using the effective interest method. Loan origination, closing, and other fees received by the Master Fund directly or indirectly from borrowers in connection with the closing of investments are accreted over the contractual life of the debt investment as interest income based on the effective interest method.

Certain of the Master Fund’s investments in debt securities may contain a contractual payment-in-kind (“PIK”) interest provision. The PIK provisions generally feature the obligation or the option at each interest payment date of making interest payments in (i) cash, (ii) additional securities or (iii) a combination of cash and additional securities. PIK interest, computed at the contractual rate specified in the investment’s credit agreement, is accrued as interest income and recorded as interest receivable up to the interest payment date. On the interest payment date, the Master Fund will capitalize the accrued interest receivable attributable to PIK as additional principal due from the borrower. When additional PIK securities are received on the interest payment date, they typically have the same terms, including maturity dates and interest rates, as the original securities issued. PIK interest generally becomes due on the investment's maturity date or call date.

If the portfolio company's valuation indicates the value of the PIK security is not sufficient to cover the contractual PIK interest, the Master Fund will not accrue additional PIK interest income and will record an allowance for any accrued PIK interest receivable as a reduction of interest income in the period the Master Fund determines it is not collectible.

Debt securities are placed on non-accrual status when principal or interest payments are at least 90 days past due or when there is reasonable doubt that principal or interest will be collected. Generally, accrued interest is reversed against interest income when a debt security is placed on non-accrual status. Interest payments received on debt securities on non-accrual status may be recognized as interest income or applied to principal based on management’s judgment. Debt securities on non-accrual status are restored to accrual status when past due principal and interest are paid and, in management’s judgment, such securities are likely to remain current on interest payment obligations. The Master Fund may make exceptions to this treatment if the debt security has sufficient collateral value and is in the process of collection.

Dividend Income

Dividend income on preferred equity securities is recorded as dividend income on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly traded portfolio companies. Each distribution received from limited liability company (“LLC”) and limited partnership (“LP”) equity investments is evaluated to determine if the distribution should be recorded as dividend income or a return of capital. Generally, the Master Fund will not record distributions from equity investments in LLCs and LPs as dividend income unless there are sufficient accumulated tax basis earnings and profits in the LLC or LP prior to the distribution. Distributions that are classified as a return of capital are recorded as a reduction in the cost basis of the investment.

Notes to Consolidated Financial Statements (Unaudited)

Fee Income

The Advisors, or their affiliates, may provide financial advisory services to portfolio companies and in return may receive fees for capital structuring services. The Advisors are obligated to remit to the Master Fund any earned capital structuring fees based on the pro rata portion of the Master Fund’s investment in originated co-investment transactions. These fees are generally non-recurring and are recognized as fee income by the Master Fund upon the earlier of the investment commitment date or investment closing date. The Master Fund may also receive fees for investment commitments, amendments to credit agreements, and other services rendered to portfolio companies. Such fees are recognized as fee income when earned or when the services are rendered.

Derivative Instruments

Derivative instruments include foreign currency forward contracts. The Master Fund recognizes all derivative instruments as assets or liabilities at fair value in its consolidated financial statements. Derivative contracts entered into by the Master Fund are not designated as hedging instruments, and as a result, the Master Fund presents changes in fair value through net change in unrealized appreciation (depreciation) on derivative instruments in the consolidated statements of operations. Realized gains and losses that occur upon the cash settlement of the derivative instruments are included in net realized gains (losses) on derivative instruments in the consolidated statements of operations.

Foreign Currency Translation, Transactions and Gains/Losses

Foreign currency amounts are translated into U.S. dollars on the following basis: (i) at the exchange rate on the last business day of the reporting period for the fair value of investment securities, other assets and liabilities; and (ii) at the prevailing exchange rate on the respective recording dates for the purchase and sale of investment securities, income, expenses, gains and losses.

Net assets and fair values are presented based on the applicable foreign exchange rates described above and the Master Fund does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in fair values of investments held; therefore, fluctuations related to foreign exchange rate conversions are included with the net realized gains (losses) and unrealized appreciation (depreciation) on investments.

Net realized gains or losses on foreign currency transactions arise from sales of foreign currency, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest, and foreign withholding taxes recorded by the Master Fund and the U.S. dollar equivalent of the amounts actually received or paid by the Master Fund.

Unrealized appreciation (depreciation) from foreign currency translation for foreign currency forward contracts is included in net change in unrealized appreciation (depreciation) on derivative instruments in the consolidated statements of operations and is included with unrealized appreciation (depreciation) in the consolidated statements of assets and liabilities.

Management Fees

The Master Fund incurs (i) a base management fee (recorded as an investment advisory fee) and (ii) a performance-based incentive fee which includes (a) an incentive fee on income and (b) an incentive fee on capital gains, due to its Advisors pursuant to an investment advisory agreement described in Note 6. Related Party Agreements and Transactions. The two components of the performance-based incentive fee will be combined and expensed in the consolidated statements of operations and accrued in the consolidated statements of assets and liabilities as accrued performance-based incentive fee. Pursuant to the terms of the investment advisory agreement, the incentive fee on capital gains is determined and payable in arrears as of the end of each calendar year (or upon termination of the investment advisory agreement) based on the Master Fund’s realized capital gains on a cumulative basis from inception, net of all realized capital losses and unrealized depreciation on a cumulative basis, less the aggregate amount of any previously paid capital gains incentive fees. Although the terms of the investment advisory agreement do not provide for the inclusion of unrealized gains in the calculation of the incentive fee on capital gains, the Master Fund includes unrealized gains in the calculation of the incentive fee on capital gains in accordance with GAAP. Therefore the accrued amount, if any, represents an estimate of the incentive fees that may be payable to the Advisors if the Master Fund’s entire investment portfolio was liquidated at its fair value as of the date of the consolidated statements of assets and liabilities, even though the Advisors are not entitled to any incentive fee based on unrealized appreciation unless and until such unrealized appreciation are actually realized.

Deferred Financing Costs

Deferred financing costs represent fees and other direct incremental costs incurred in connection with the arrangement of the Master Fund's borrowings. These costs are presented in the consolidated statements of assets and liabilities as a direct deduction of the debt liability to which the costs pertain. These costs are amortized using the effective interest method and are included in interest expense in the consolidated statements of operations over the life of the borrowings.

Organization and Offering Expenses

Organization expenses are expensed on the Master Fund's consolidated statements of operations. Continuous offering expenses are capitalized on the Master Fund's consolidated statements of assets and liabilities as deferred offering costs and expensed to the Master Fund's consolidated statements of operations over a 12-month period.

Notes to Consolidated Financial Statements (Unaudited)

Distributions

Distributions to the Master Fund's common shareholders are periodically declared by its Board of Trustees and recognized as a liability on the record date.

Earnings per Common Share

Earnings per Common Share is calculated based upon the weighted average number of Common Shares outstanding during the reporting period.

Federal Income Taxes

Beginning with its tax year ended December 31, 2015, the Master Fund has elected to be treated for federal income tax purposes, and thereafter intends to maintain its qualification, as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"). Generally, a RIC is not subject to federal income taxes on distributed income and gains if it distributes dividends in a timely manner out of assets legally available for distributions to its shareholders of an amount generally at least equal to 90% of its “Investment Company Taxable Income,” as defined in the Code. The Master Fund intends to distribute sufficient dividends to maintain its RIC status each year and it does not anticipate paying a material level of federal income taxes.

The Master Fund is generally subject to nondeductible federal excise taxes if it does not distribute dividends to its shareholders in respect of each calendar year of an amount at least equal to the sum of (i) 98% of its net ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2% of its capital gain net income (i.e., capital gains in excess of capital losses), adjusted for certain ordinary losses, for the one-year period generally ending on October 31 of the calendar year and (iii) any net ordinary income and capital gain net income for preceding calendar years that were not distributed during such calendar years and on which the Master Fund paid no federal income tax. The Master Fund may, at its discretion, pay a 4% nondeductible federal excise tax on under-distribution of taxable ordinary income and capital gains.

New Accounting Standard

In November 2016, the FASB issued Accounting Standards Update 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash ("ASU 2016-18"). ASU 2016-18 requires that the statements of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statements of cash flows. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, with early adoption permitted. The Master Fund has elected early adoption of ASU 2016-18 as of December 31, 2016 and has applied this standard retroactively to all prior periods presented.

In March 2017, the FASB issued Accounting Standards Update 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities ("ASU 2017-08"). ASU 2017-08 requires that when securities are purchased at a premium over their callable price that the premium be amortized over a the period of time from purchase to the first call date. Historically premiums and discounts have been amortized to the maturity date of a security. The new guidance is effective for fiscal years, and interim periods within those fiscal years beginning after December 15, 2018, with early adoption permitted. The Master Fund has not elected early adoption at this point and is still assessing the potential impact of this guidance.

Note 3. Investments

The following two tables present the composition of the investment portfolio at amortized cost and fair value as of March 31, 2017 and December 31, 2016, respectively, with corresponding percentages of total portfolio investments at fair value and net assets (dollars in thousands):



	March 31, 2017
	Investments at Amortized Cost		Investments at Fair Value		Percentage of Portfolio		Percentage of Net Assets
Senior secured loans - first lien	$	226,800	$	230,984	70.0	%	97.7	%
Senior secured loans - second lien	53,496		53,961		16.3		22.8
Senior secured bonds	11,414		12,025		3.7		5.1
Total senior debt	$	291,710	$	296,970	90.0	%	125.6	%
Subordinated debt	32,554		32,617		9.9		13.8
Equity / other	2,355		453		0.1		0.2
Total investments	$	326,619	$	330,040	100.0	%	139.6	%

Notes to Consolidated Financial Statements (Unaudited)



	December 31, 2016
	Investments at Amortized Cost		Investments at Fair Value		Percentage of Portfolio		Percentage of Net Assets
Senior secured loans - first lien	$	182,485	$	185,336	67.4	%	104.1	%
Senior secured loans - second lien	43,990		44,340		16.1		24.9
Senior secured bonds	11,405		11,631		4.2		6.5
Total senior debt	$	237,880	$	241,307	87.7	%	135.5	%
Subordinated debt	33,015		33,498		12.2		18.8
Equity / other	2,101		279		0.1		0.2
Total investments	$	272,996	$	275,084	100.0	%	154.5	%

As of March 31, 2017, approximately 9.8% of the investment portfolio measured at amortized cost and 9.8% of the investment portfolio measured at fair value were invested in portfolio companies with foreign domiciles, specifically Canada, Italy and the United Kingdom. As of December 31, 2016, approximately 5.9% of the investment portfolio measured at amortized cost and 5.9% of the investment portfolio measured at fair value were invested in a Canadian portfolio company.

As of March 31, 2017, debt investments on non-accrual status represented 1.0% and 1.0% of total investments on an amortized cost basis and fair value basis, respectively. As of December 31, 2016, debt investments on non-accrual status represented 1.2% and 1.1% of total investments on an amortized cost basis and fair value basis, respectively.

The following table presents the composition of the investment portfolio by industry classifications at amortized cost and fair value as of March 31, 2017 and December 31, 2016, respectively, with corresponding percentages of total portfolio investments at fair value (dollars in thousands):

March 31, 2017

December 31, 2016

Industry Classification

Investments at Amortized Cost

Investments at Fair Value

Percentage of Portfolio

Investments at Amortized Cost

Investments at Fair Value

Percentage of Portfolio

Technology

64,989

65,885

20.0

Carey Credit Income Fund 2018 T 10-Q