Company: FCRX
Filing Date: 2025-07-14
Form Type: N-2/A
Source: 0001193125-25-158263
Chunk: 6

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-07-14
Form: N-2/A
Chunk 6
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 exchange on February 3, 2020. We have elected to be treated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). In addition, we have elected to be treated for U.S. federal income tax purposes as a regulated investment company (a “RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). As such, we are required to comply with various regulatory requirements, such as the requirement to invest at least 70% of our assets in “qualifying assets,” source of income limitations, asset diversification requirements, and the requirement to distribute annually at least 90% of our taxable income and tax-exempt interest.

We are managed by our investment advisor, Crescent Cap Advisors, LLC (the “Advisor”), an investment advisor that is registered with the SEC under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). Our administrator, CCAP Administration LLC (the “Administrator”) provides the administrative services necessary for us to operate. Our management consists of investment and administrative professionals from the Advisor and Administrator along with our Board of Directors (the “Board”). The Board consists of six directors, five of whom are independent. The Advisor directs and executes our investment operations and capital raising activities subject to oversight from the Board, which sets our broad policies. The Board has delegated investment management of our investment assets to the Advisor. The SEC has adopted Rule 2a-5 (the “Rule”) under the 1940 Act. The Rule establishes requirements for determining fair value in good faith for purposes of the 1940 Act.

A portion of the outstanding shares of our common stock, par value $0.001 per share, is owned by Crescent, its employees and certain of our officers and directors. Crescent is also the majority member of the Advisor and sole member of the Administrator. We have entered into a license agreement with Crescent under which Crescent granted us a non-exclusive, royalty-free license to use the name “Crescent Capital”. The Advisor has entered into a resource sharing agreement with Crescent under which Crescent provides the Advisor with experienced investment professionals (including the members of the Advisor’s investment committee) and access to Crescent’s resources so as to enable the Advisor to fulfill its obligations under the Investment Advisory Agreement. On January 5, 2021 Sun Life Financial Inc. acquired a majority interest in Crescent.

Under the terms of our investment advisory agreement with the Advisor,