Company: FCRX
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001133228-25-003192
Chunk: 27

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 27
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 depending on the good faith determination of all relevant factors, including differing investment objectives, diversification
considerations and the terms of the Corporation’s governing documents and the respective governing documents of such investment
funds, accounts and investment vehicles. These procedures could in certain circumstances adversely affect the Corporation’s access
to a co-investment opportunity, the timing of acquisitions and dispositions of investments, the price paid or received by the Corporation
for investments or the size of the investment purchased or sold by the Corporation.

The
Corporation may invest alongside Crescent’s investment funds, accounts and investment vehicles in certain circumstances where doing
so is consistent with the Corporation’s investment strategy, as well as applicable law and SEC staff interpretations. The Corporation
and Crescent have been granted exemptive relief by the SEC to permit greater flexibility to negotiate the terms of co-investments if the
Board determines that it would be advantageous for the Corporation to co-invest with investment funds, accounts and investment vehicles
managed by Crescent in a manner consistent with the Corporation’s investment objectives, positions, policies, strategies and restrictions
as well as regulatory requirements and other pertinent factors.

Pursuant
to the terms of the exemptive relief, in connection with any commitment to a co-investment, a “required majority” (as defined
in Section 57(o) of the 1940 Act) of the Independent Directors need to reach certain conclusions, including that (1) the terms of
the proposed transaction are reasonable and fair to the Corporation and its stockholders and do not involve overreaching of the Corporation
or its stockholders on the part of any person concerned and (2) the transaction is consistent with the interests of the Corporation’s
stockholders and is consistent with the Corporation’s investment strategies and policies.

Prior
to his service on the Board of Directors, Mr. Strandberg invested in certain private funds managed by an affiliate of the Advisor.
For the avoidance of any potential conflicts of interest and to ensure strict compliance with the Corporation's exemptive relief, Mr. Strandberg
is not considered part of the “required majority” approval when the Board considers co-investment opportunities in which the
Corporation may invest alongside those private funds. Commencing with his service on the Board, Mr. Strandberg has not invested additional
capital with any funds managed by the Advisor or its affiliates, except to satisfy any pre-existing capital commitments. Mr. Strandberg’s investment
in the private funds is not subject to management fees typically charged to other investors in the funds