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

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 14
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 as members of each committee of the Board, which
the Independent Directors believe allows them to participate in the full range of the Board’s oversight duties, including oversight
of the risk management process. In addition, although the Independent Directors recognize that having a lead Independent Director may
in some circumstances help coordinate communications with management, and otherwise assist a board in the exercise of its oversight duties,
the Independent Directors believe that, because of the relatively small size of the Board, the ratio of Independent Directors to Interested
Directors, and the good working relationship among the Directors, it is not necessary to designate a lead Independent Director at this
time.

The
Board, through the Nominating Committee, completes an annual self-assessment during which it reviews its leadership and committee structure
and considers whether its structure remains appropriate in light of the Corporation’s current operations. The Board also periodically
reviews its leadership structure. The Board believes that its leadership structure, including the current percentage of the Board members
who are Independent Directors, is appropriate given its specific characteristics. These characteristics include (i) the extent to which
the work of the Board is conducted through the Board's standing committees, each of whose meetings are chaired by an Independent Director;
(ii) the extent to which the Independent Directors meet as needed in the absence of members of management and the Interested Directors;
and (iii) Ms. Ko’s positions with Crescent, which enhance the Board’s understanding of the operations of the Advisor.

Board
Oversight of Risk Management

The
Board’s role is one of oversight, rather than active management. Oversight of the Corporation’s investment activities extends
to oversight of the risk management processes employed by the Advisor as part of its day-to-day management of the Corporation’s
investment activities. The goal of the Board’s risk oversight function is to ensure that the risks associated with the Corporation’s
investment activities are accurately identified, thoroughly investigated, and responsibly addressed.

The
Board reviews risk management processes at both regular and special Board meetings throughout the year, consulting with appropriate representatives
of the Advisor, as necessary, and periodically requesting the production of risk management reports or presentations. The Board receives
a wide range of reports on the Corporation’s activities from the Advisor and other service providers, including reports regarding
the Corporation’s investment portfolio, the compliance of the Corporation with applicable laws, and the Corporation’s financial
accounting and reporting. The Board also meets periodically with the Corporation’s CCO to receive reports regarding the compliance
of the Corporation with the federal securities laws and the Corporation