UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

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

For the quarterly period ended March 31, 2025

or

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

Commission file number: 814-01599

Crescent Private Credit Income Corp.

(Exact Name of Registrant as Specified in Its Charter)

Maryland	88-4283363
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)
11100 Santa Monica Blvd., Suite 2000, Los Angeles, CA	90025
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s Telephone Number, Including Area Code: (310) 235-5900

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
None	None	None

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 ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 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 the definitions 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	☒	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 ☒

The number of shares of the Registrant’s common stock, par value $0.01 per share outstanding at May 15, 2025 was 9,428,815 shares of Class I Common Stock ("Class I Shares") and 1,786 shares of Class S Common Stock ("Class S Shares").

Common shares outstanding exclude May 1, 2025 subscriptions since the issuance price is not yet finalized at the date of this filing.

11

CRESCENT PRIVATE CREDIT INCOME CORP.

FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2025

Table of Contents

PART I	FINANCIAL INFORMATION	4
Item 1.	Financial Statements	4
	Consolidated Statements of Assets and Liabilities as of March 31, 2025 (Unaudited) and December 31, 2024	4
	Consolidated Statements of Operations for the three months ended March 31, 2025 and 2024 (Unaudited)	5
	Consolidated Statements of Changes in Net Assets for the three months ended March 31, 2025 and 2024 (Unaudited)	5
	Consolidated Statements of Cash Flows for the three months ended March 31, 2025 and 2024 (Unaudited)	7
	Consolidated Schedule of Investments as of March 31, 2025 (Unaudited)	8
	Consolidated Schedule of Investments as of December 31, 2024	19
	Notes to Consolidated Financial Statements (Unaudited)
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	50
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	60
Item 4.	Controls and Procedures	61
Part II	OTHER INFORMATION	62
Item 1.	Legal Proceeding	62
Item 1A.	Risk Factors	62
Item 2.	Unregistered Sales Of Equity Securities And Use Of Proceeds	62
Item 3.	Defaults Upon Senior Securities	62
Item 4.	Mine Safety Disclosures	63
Item 5.	Other Information	63
Item 6.	Exhibits	64

2

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This report contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about Crescent Private Credit Income Corp (together, with its consolidated subsidiaries, the “Company," “we” or “our”), our current and prospective portfolio investments, our industry, our beliefs and opinions, and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation:

•the ability of our investment adviser to locate suitable investments for us and to monitor and administer our investments;

•regulations governing our operation as a business development company;

•financing investments with borrowed money;

•operation in a highly competitive market for investment opportunities;

•risks associated with original issue discount (“OID”) and payment-in-kind (“PIK”) interest income;

•changes in interest rates may affect our cost of capital and net investment income;

•the impact of changes in Secured Overnight Financing Rate (“SOFR”), or other benchmark rates on our operating results;

•uncertainty as to the value of certain portfolio investments;

•our ability to deploy any capital raised in sales of our Common Shares;

•lack of liquidity in investments;

•the impact of changes in laws or regulations (including the interpretation thereof), including tax laws, governing our operations or the operations of our portfolio companies;

•political and regulatory conditions that contribute to uncertainty and market volatility, including the legislative, regulatory, trade and other policies associated with the new administration;

•the conflict in the Middle East and the Russia-Ukraine War;

•the timing, form and amount of any dividend distributions;

•risks regarding distributions;

•potential resignation of the Adviser and/or the Administrator;

•potential adverse effects of price declines and illiquidity in the corporate debt markets;

•potential impact of economic recessions or downturns;

•defaults by portfolio companies;

•the outcome and impact of any litigation;

•uncertainty surrounding the financial stability of the United States, Europe and China;

•adverse developments in the credit markets; and

•potential fluctuation in quarterly operating results.

Although we believe that the assumptions on which these forward-looking statements are based upon are reasonable, some of those assumptions may be based on the work of third parties and any of those assumptions could prove to be inaccurate; as a result, forward-looking statements based on those assumptions also could prove to be inaccurate. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this Quarterly Report on Form 10-Q (the “Quarterly Report”) should not be regarded as a representation by us that our plans and objectives will be achieved. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this Quarterly Report, or other information incorporated herein by reference, as applicable. We do not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law. You are advised to consult any additional disclosures that we may make directly to you or through reports that we in the future may file with the SEC, including registration statements on Form N-2, annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. The safe harbor provisions of Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), which preclude civil liability for certain forward-looking statements, do not apply to the forward-looking statements in this report because we are an investment company.

3

PART I. Financial Information
Item 1. Financial Statements

Crescent Private Credit Income Corp.
Consolidated Statements of Assets and Liabilities
(in thousands, except for per share data)
	As of March 31, 2025 (Unaudited)		As of December 31, 2024
Assets
Investments, at fair value
Non-controlled non-affiliated investments (cost of $306,628 and $280,031, respectively)	$	308,031	$	282,161
Cash and cash equivalents		86,426		10,695
Restricted cash and cash equivalents		5,379		10,672
Receivable from unsettled transactions		4,243		1,299
Interest receivable		1,744		1,372
Deferred offering costs		1,497		2,202
Other assets		4,259		3,377
Total assets	$	411,579	$	311,778
Liabilities
Debt (net of deferred financing costs of $1,965 and $1,413, respectively)	$	155,811	$	110,566
Subscriptions received in advance		51,553		8,500
Payable for investments purchased		6,471		2,094
Interest and other debt financing costs payable		1,756		1,917
Distribution payable		1,538		1,536
Management fees payable		573		545
Accrued expenses and other liabilities		5,932		5,895
Total liabilities		223,634		131,053
Commitments and Contingencies (Note 7)
Net assets
Common stock, par value $0.01 per share (300,000,000 shares authorized, 6,991,873 and 6,677,756 shares issued and outstanding, respectively)		70		67
Paid-in capital in excess of par value		179,590		171,093
Accumulated earnings/(loss)		8,285		9,565
Total net assets		187,945		180,725
Total liabilities and net assets	$	411,579	$	311,778
Net asset value per share (Class I)	$	26.88	$	27.06

See accompanying notes

4

Crescent Private Credit Income Corp.
Consolidated Statements of Operations
(in thousands, except for per share data)
(Unaudited)
	For the three months ended March 31, 2025			For the three months ended March 31, 2024
Investment Income:
From non-controlled non-affiliated investments:
Interest income	$	7,018		$	3,970
Paid-in-kind interest		406			-
Other income		200			42
Total investment income		7,624			4,012
Expenses:
Interest and other debt financing costs		2,121			828
Offering costs		960			-
Management fees		582			408
Income based incentive fees		360			302
Professional fees		187			253
Directors’ fees		106			53
Capital gains based incentive fees		(188	)		69
Other general and administrative expenses		719			459
Total expenses		4,847			2,372
Management fees waiver		(9	)		(408	)
Income based incentive fees waiver		(360	)		(302	)
Capital gains based incentive fees waiver		188			(69	)
Expense support reimbursement		(1,972	)		-
Net expenses		2,694			1,593
Net investment income before taxes		4,930			2,419
Provision for excise taxes		81			-
Net investment income		4,849			2,419
Net realized and unrealized gains (losses) on investments:
Net realized gain (loss) on:
Non-controlled non-affiliated investments		(197	)		-
Foreign currency transactions		(27	)		-
Net change in unrealized appreciation (depreciation) on:
Non-controlled non-affiliated investments		(727	)		546
Foreign currency translation		(563	)		-
Net realized and unrealized gains (losses) on investments		(1,514	)		546
Net increase in net assets resulting from operations	$	3,335		$	2,965

See accompanying notes

5

Crescent Private Credit Income Corp.
Consolidated Statements of Changes in Net Assets
(in thousands, except share and per share data)
(Unaudited)
	Common Stock
	Class I Shares		Par Amount		Paid in Capital in Excess of Par Value		Accumulated Earnings (Loss)			Total Net Assets
Balance at December 31, 2024		6,677,756	$	67	$	171,093	$	9,565		$	180,725
Net increase (decrease) in net assets resulting from operations:
Net investment income		-		-		-		4,849			4,849
Net realized gain (loss) on investments		-		-		-		(224	)		(224	)
Net change in unrealized appreciation (depreciation) on investments and foreign currency translation		-		-		-		(1,290	)		(1,290	)
Issuance of common stock - Class I shares		314,117		3		8,497		-			8,500
Distributions to stockholders		-		-				(4,615	)		(4,615	)
Total increase (decrease) for the three months ended March 31, 2025		314,117	$	3	$	8,497	$	(1,280	)	$	7,220
Balance at March 31, 2025		6,991,873	$	70	$	179,590	$	8,285		$	187,945
	Common Stock
	Class I Shares		Par Amount		Paid in Capital in Excess of Par Value		Accumulated Earnings (Loss)			Total Net Assets
Balance at December 31, 2023		3,977,799	$	40	$	99,875	$	3,943		$	103,858
Net increase (decrease) in net assets resulting from operations:
Net investment income		-		-		-		2,419			2,419
Net change in unrealized appreciation (depreciation) on investments and foreign currency translation		-		-		-		546			546
Issuance of common stock - Class I shares		1,953,458		19		51,431		-			51,450
Total increase (decrease) for the three months ended March 31, 2024		1,953,458	$	19	$	51,431	$	2,965		$	54,415
Balance at March 31, 2024		5,931,257	$	59	$	151,306	$	6,908		$	158,273

See accompanying notes

6

Crescent Private Credit Income Corp.
Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)
	For the three months ended March 31, 2025			For the three months ended March 31, 2024
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$	3,335		$	2,965
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used for) operating activities:
Purchases of investments		(72,469	)		(54,105	)
Paid-in-kind interest income		(406	)
Proceeds from sales of investments and principal repayments		46,398			4,756
Net realized (gain) loss on investments, foreign currency transactions		224			-
Net change in unrealized (appreciation) depreciation on investments, foreign currency translation		1,290			(546	)
Amortization of premium and accretion of discount, net		(344	)		(243	)
Amortization of deferred offering costs		960			-
Amortization of deferred financing costs		90			90
Change in operating assets and liabilities:
(Increase) decrease in receivable from unsettled transactions		(2,944	)		0
(Increase) decrease in interest receivable		(372	)		(1,106	)
(Increase) decrease in other assets		(882	)		3
Increase (decrease) in payable for investment purchased		4,377			7,651
Increase (decrease) in interest and other debt financing costs payable		(161	)		554
Increase (decrease) in management fees payable		28			-
Increase (decrease) in accrued expenses and other liabilities		37			(203	)
Net cash provided by (used for) operating activities	$	(20,839	)	$	(40,184	)
Cash flows from financing activities:
Proceeds from issuance of common stock		8,500			51,450
Increase (decrease) in subscriptions received in advance		43,053			-
Distributions paid		(4,613	)		-
Offering costs paid		(255	)		-
Borrowings on credit facilities		63,797			22,500
Repayments on credit facilities		(18,000	)		-
Deferred financing and debt issuance costs paid		(642	)		-
Net cash provided by (used for) financing activities		91,840			73,950
Effect of exchange rate changes on cash denominated in foreign currency		(563	)		-
Net increase (decrease) in cash and cash equivalents		70,438			33,766
Cash and cash equivalents, restricted cash and foreign currency, beginning of period		21,367			28,754
Cash and cash equivalents, restricted cash and foreign currency, end of period (1)	$	91,805		$	62,520
Supplemental and non-cash financing activities:
Cash paid during the period for interest	$	1,903		$	172
Cash paid during the period for taxes	$	327		$	110

(1) As of March 31, 2025, the balance included cash and cash equivalents of $86,426 (including cash denominated in foreign currency of $128) and restricted cash and cash equivalents of $5,379. As of December 31, 2024, the balance included cash and cash equivalents of $10,695 (including cash denominated in foreign currency of $40) and restricted cash and cash equivalents of $10,672 (including cash denominated in foreign currency of $440).

See accompanying notes

7

Crescent Private Credit Income Corp. Consolidated Schedule of Investments March 31, 2025 (in thousands, except share and per share data) (Unaudited)
Country/Security/Industry/Company	Investment Type	Interest Term *	Interest Rate	Maturity/ Dissolution Date	Principal Amount, Par Value or Shares **		Cost			Percentage of Net Assets ***				Fair Value
Investments (1)(2)(3)
United States
Debt Investments
Capital Goods
Brand Industrial Services (7)	Senior Secured First Lien Term Loan	S + 450	8.79%	08/2030	$	643	$	638			0.3		%	$	610
CP Atlas (7)	Senior Secured First Lien Term Loan	S + 375 (50 Floor)		11/2027		820		813			0.4				761
Fairbanks Morse Defense (7)	Senior Secured First Lien Term Loan	S + 450 (75 Floor)	8.80%	06/2028		1,010		1,000			0.5				1,007
Fairbanks Morse Defense (7)	Senior Secured First Lien Term Loan	S + 350 (75 Floor)	7.81%	06/2030		559		559			0.3				558
GB Eagle Buyer, Inc. (4)(5)	Unitranche First Lien Delayed Draw Term Loan			12/2030		-		(6	)		(0.0	)			(15	)
GB Eagle Buyer, Inc. (5)	Unitranche First Lien Revolver	S + 475 (100 Floor)	9.05%	12/2030		64		59			0.0				58
GB Eagle Buyer, Inc.	Unitranche First Lien Term Loan	S + 475 (100 Floor)	9.05%	12/2030		3,189		3,159			1.7				3,151
Parts Town (5)	Unitranche First Lien Delayed Draw Term Loan			04/2030		-		-			-				-
Parts Town	Unitranche First Lien Term Loan	S + 325 (100 Floor) (including 175 PIK)	9.30%	04/2030		5,319		5,288			2.8				5,319
						11,604		11,510			6.0				11,449
Commercial and Professional Services
Career Certified LLC (4)(5)	Senior Secured First Lien Delayed Draw Term Loan			02/2031		-		-			(0.0	)			(1	)
Career Certified LLC (4)(5)	Senior Secured First Lien Revolver			02/2031		-		(1	)		(0.0	)			(1	)
Career Certified LLC	Senior Secured First Lien Term Loan	S + 500 (100 Floor)	9.30%	02/2031		750		745			0.4				744
CMG Holdco	Unitranche First Lien Delayed Draw Term Loan	S + 475 (100 Floor)	9.18%	10/2028		441		437			0.2				441
CMG Holdco	Unitranche First Lien Delayed Draw Term Loan	S + 475 (100 Floor)	9.18%	10/2028		1,109		1,099			0.6				1,109
CMG Holdco (5)	Unitranche First Lien Delayed Draw Term Loan	S + 475 (100 Floor)	9.18%	10/2028		875		859			0.5				875
CMG Holdco (4)(5)	Unitranche First Lien Delayed Draw Term Loan			10/2028		-		(5	)		-				-
CMG Holdco (5)	Unitranche First Lien Revolver	S + 475 (100 Floor)	8.99%	10/2028		143		138			0.1				143
CMG Holdco	Unitranche First Lien Term Loan	S + 475 (100 Floor)	9.18%	10/2028		748		741			0.4				748
Crisis Prevention Institute, Inc. (7)	Senior Secured First Lien Term Loan	S + 400 (50 Floor)	8.30%	04/2031		322		322			0.2				323
Duraserv LLC (5)	Senior Secured First Lien Delayed Draw Term Loan	S + 475 (75 Floor)	9.07%	06/2031		70		61			0.0				52
Duraserv LLC	Senior Secured First Lien Delayed Draw Term Loan	S + 450 (75 Floor)	8.82%	06/2031		1,779		1,763			0.9				1,761
Duraserv LLC (4)(5)	Senior Secured First Lien Revolver			06/2030		-		(8	)		(0.0	)			(9	)
See accompanying notes

8

Crescent Private Credit Income Corp. Consolidated Schedule of Investments March 31, 2025 (in thousands, except share and per share data) (Unaudited)
Country/Security/Industry/Company	Investment Type	Interest Term *	Interest Rate	Maturity/ Dissolution Date	Principal Amount, Par Value or Shares **		Cost			Percentage of Net Assets ***		Fair Value
Duraserv LLC	Senior Secured First Lien Term Loan	S + 450 (75 Floor)	8.82%	06/2031		4,797		4,754			2.5		4,749
Galway Borrower, LLC (5)	Unitranche First Lien Delayed Draw Term Loan	S + 450 (75 Floor)	8.80%	09/2028		311		269			0.2		318
Galway Borrower, LLC (5)	Unitranche First Lien Revolver	S + 450 (75 Floor)	8.80%	09/2028		226		221			0.1		222
GN Loanco, LLC (7)	Senior Secured First Lien Term Loan	S + 450 (75 Floor)	8.79%	12/2030		680		679			0.4		662
Halo Buyer Inc (5)	Unitranche First Lien Revolver	S + 600 (100 Floor)	10.32%	08/2029		26		16			0.0		16
Halo Buyer Inc	Unitranche First Lien Term Loan	S + 600 (100 Floor)	10.32%	08/2029		3,478		3,411			1.8		3,409
Iris Buyer, LLC (5)	Unitranche First Lien Delayed Draw Term Loan	S + 625 (100 Floor)	10.55%	10/2030		329		318			0.2		334
Iris Buyer, LLC	Unitranche First Lien Term Loan	S + 625 (100 Floor)	10.54%	10/2030		3,487		3,406			1.9		3,521
Iris Buyer, LLC (5)	Unitranche First Lien Revolver	S + 625 (100 Floor)	10.55%	10/2029		151		141			0.1		151
Iris Buyer, LLC (5)	Unitranche First Lien Delayed Draw Term Loan	S + 525 (100 Floor)	9.56%	10/2030		38		34			0.0		45
LABL Inc (7)	Senior Secured First Lien Term Loan	S + 500 (50 Floor)	9.32%	10/2028		987		975			0.4		814
McKissock Investment Holdings LLC (Colibri) (7)	Senior Secured First Lien Term Loan	S + 500 (75 Floor)	9.29%	03/2029		2,963		2,906			1.6		2,953
Northstar (7)	Senior Secured First Lien Term Loan	S + 475	9.07%	05/2030		577		574			0.3		580
Pye-Barker Fire & Safety, LLC	Unitranche First Lien Delayed Draw Term Loan	S + 450 (75 Floor)	8.80%	05/2031		378		378			0.2		373
Pye-Barker Fire & Safety, LLC (5)	Unitranche First Lien Revolver	S + 450 (75 Floor)	8.80%	05/2030		108		108			0.1		97
Pye-Barker Fire & Safety, LLC	Unitranche First Lien Term Loan	S + 450 (75 Floor)	8.80%	05/2031		8,755		8,754			4.6		8,640
Teneo Holdings LLC (7)	Senior Secured First Lien Term Loan	S + 475	9.07%	03/2031		359		359			0.2		360
Trugreen (7)	Senior Secured First Lien Term Loan	S + 400 (75 Floor)	8.42%	11/2027		815		800			0.4		769
Varsity Brands (7)	Senior Secured First Lien Term Loan	S + 375	7.82%	08/2031		628		625			0.3		617
						35,330		34,879			18.6		34,815
Consumer Discretionary Distribution and Retail
Bass Pro - Great American Outdoors Group LLC (7)	Senior Secured First Lien Term Loan	S + 325 (75 Floor)	7.57%	01/2032		1,119		1,115			0.6		1,118
Gloves Buyers, Inc. (7)	Senior Secured First Lien Term Loan	S + 400 (50 Floor)	8.31%	01/2032		786		782			0.4		758
PetSmart (7)	Senior Secured First Lien Term Loan	S + 375	8.17%	02/2028		676		676			0.4		667
Savers (6)(7)	Senior Secured First Lien Term Loan	S + 375 (75 Floor)	8.05%	04/2028		2,075		2,075			1.1		2,063
						4,656		4,648			2.5		4,606
Consumer Durables and Apparel
Champ Acquisition Corporation (7)	Senior Secured First Lien Term Loan	S + 450	8.80%	11/2031		206		204			0.1		207
HP PHRG Borrower, LLC (7)	Senior Secured First Lien Term Loan	S + 400	8.32%	02/2032		736		729			0.4		714
Lakeshore Learning (7)	Senior Secured First Lien Term Loan	S + 350 (50 Floor)	7.94%	09/2028		920		918			0.5		891
						1,862		1,851			1.0		1,812
Consumer Services
Essential Services Holding Corporation (4)(5)	Unitranche First Lien Delayed Draw Term Loan			06/2031		-		(3	)		0.0		1
See accompanying notes

9

Crescent Private Credit Income Corp. Consolidated Schedule of Investments March 31, 2025 (in thousands, except share and per share data) (Unaudited)
Country/Security/Industry/Company	Investment Type	Interest Term *	Interest Rate	Maturity/ Dissolution Date	Principal Amount, Par Value or Shares **		Cost			Percentage of Net Assets ***			Fair Value
Essential Services Holding Corporation (5)	Unitranche First Lien Revolver	S + 500 (75 Floor)	9.30%	06/2030		74		70			0.0			74
Essential Services Holding Corporation	Unitranche First Lien Term Loan	S + 500 (75 Floor)	9.30%	06/2031		3,792		3,757			2.0			3,798
Golden Nugget Inc (Landry’s) (7)	Senior Secured First Lien Term Loan	S + 375 (50 Floor)	8.07%	01/2029		1,351		1,346			0.7			1,332
J&J Ventures Gaming (7)	Senior Secured First Lien Term Loan	S + 350 (75 Floor)	7.82%	04/2030		678		672			0.4			670
Thermostat Purchaser III, Inc. (7)(11)	Senior Secured First Lien Term Loan	S + 425 (75 Floor)	8.55%	08/2028		234		234			0.1			234
Waterbridge Midstream Operating LLC (7)	Senior Secured First Lien Term Loan	S + 475	9.07%	06/2029		257		257			0.1			255
						6,386		6,333			3.3			6,364
Diversified Financials
RWA Wealth Partners, LLC. (5)	Unitranche First Lien Delayed Draw Term Loan	S + 475 (75 Floor)	9.05%	11/2030		87		84			0.0			78
RWA Wealth Partners, LLC. (4)(5)	Unitranche First Lien Revolver			11/2030		-		(3	)		(0.0	)		(3	)
RWA Wealth Partners, LLC.	Unitranche First Lien Term Loan	S + 475 (75 Floor)	9.07%	11/2030		1,700		1,688			0.9			1,688
						1,787		1,769			0.9			1,763
Energy
Brazos (7)	Senior Secured First Lien Term Loan	S + 300 (50 Floor)	7.31%	02/2030		700		698			0.4			701
Cornerstone Generation, LLC (7)(11)	Senior Secured First Lien Term Loan	S + 325	7.56%	10/2031		365		364			0.2			365
Delek US Holdings, Inc (7)	Senior Secured First Lien Term Loan	S + 350 (50 Floor)	7.81%	11/2029		1,506		1,502			0.8			1,496
Rockpoint Gas Storage Partners (7)	Senior Secured First Lien Term Loan	S + 375	8.07%	02/2031		479		479			0.3			478
Prairie Acquiror LP (7)	Senior Secured First Lien Term Loan	S + 425	8.57%	08/2029		1,236		1,231			0.7			1,238
						4,286		4,274			2.4			4,278
Financial Services
Blackhawk Network Holdings, Inc. (7)	Senior Secured First Lien Term Loan	S + 500	9.32%	06/2025		444		443			0.2			443
Jump Financial LLC (7)	Senior Secured First Lien Term Loan	S + 425	8.55%	02/2032		211		210			0.1			212
LBM Acquisition (7)	Senior Secured First Lien Term Loan	S + 375 (75 Floor)	8.17%	05/2034		800		796			0.4			741
Nexus (7)	Senior Secured First Lien Term Loan	S + 400	7.82%	07/2031		903		899			0.5			897
UHY Advisors , Inc. (4)(5)	Unitranche First Lien Delayed Draw Term Loan			11/2031		-		(4	)		(0.0	)		(12	)
UHY Advisors , Inc. (5)	Unitranche First Lien Revolver	S + 475 (75 Floor)	9.06%	11/2031		100		97			0.1			97
UHY Advisors , Inc.	Unitranche First Lien Term Loan	S + 475 (75 Floor)	9.06%	11/2031		1,775		1,763			0.9			1,763
						4,233		4,204			2.2			4,141
Food, Beverage and Tobacco
Aspire Bakeries Holdings LLC (7)	Senior Secured First Lien Term Loan	S + 425	8.57%	12/2030		449		447			0.2			450
Primary Products (7)	Senior Secured First Lien Term Loan	S + 325 (50 Floor)	7.55%	04/2029		364		363			0.2			363
						813		810			0.4			813
Health Care Equipment and Services
Angels of Care (4)(5)	Senior Secured First Lien Delayed Draw Term Loan			02/2030		-		(3	)		-			-
Angels of Care (4)(5)	Senior Secured First Lien Revolver			02/2030		-		(3	)		-			-
Angels of Care	Senior Secured First Lien Term Loan	S + 575 (100 Floor)	10.06%	02/2030		3,713		3,680			2.0			3,713
See accompanying notes

10

Crescent Private Credit Income Corp. Consolidated Schedule of Investments March 31, 2025 (in thousands, except share and per share data) (Unaudited)
Country/Security/Industry/Company	Investment Type	Interest Term *	Interest Rate	Maturity/ Dissolution Date	Principal Amount, Par Value or Shares **		Cost			Percentage of Net Assets ***			Fair Value
Avalign Technologies, Inc. (5)	Unitranche First Lien Revolver	S + 650 (75 Floor)	10.82%	12/2028		277		262			0.1			211
Avalign Technologies, Inc.	Unitranche First Lien Term Loan	S + 362.5 (75 Floor) (including 362.5 PIK)	11.56%	12/2028		7,247		7,132			3.6			6,731
BVI Medical Inc. (4)(5)	Unitranche First Lien Delayed Draw Term Loan			03/2032		-		(3	)		(0.0	)		(5	)
BVI Medical Inc. (4)(5)	Unitranche First Lien Revolver			03/2032		-		(10	)		(0.0	)		(10	)
BVI Medical Inc.	Unitranche First Lien Term Loan	S + 125 (75 Floor) (including 500 PIK)	10.57%	03/2032		8,108		7,987			4.2			7,986
FH MD Buyer, Inc	Senior Secured First Lien Term Loan	S + 500 (75 Floor)	9.32%	07/2028		7,411		6,944			3.9			7,374
HAH Group Holding Company (7)	Senior Secured First Lien Term Loan	S + 500	9.32%	09/2031		748		738			0.4			713
IVX Health Merger Sub, Inc. (8)	Unsecured Debt	1350 PIK	13.50%	06/2031		3,187		3,121			1.7			3,283
IVX Health Merger Sub, Inc. (4)(5)	Unitranche First Lien Revolver			06/2030		-		(24	)		-			-
IVX Health Merger Sub, Inc.	Unitranche First Lien Term Loan	S + 500 (100 Floor)	9.30%	06/2030		6,811		6,687			3.7			6,879
Laseraway Intermediate Holdings II, LLC (7)	Senior Secured First Lien Term Loan	S + 575 (75 Floor)	10.31%	10/2027		5,236		5,204			2.7			5,053
LifePoint Health Inc (7)	Senior Secured First Lien Term Loan	S + 475	8.05%	11/2028		683		677			0.4			663
MB2 Dental (5)	Unitranche First Lien Delayed Draw Term Loan	S + 550 (75 Floor)	9.82%	02/2031		621		605			0.3			624
MB2 Dental (5)	Unitranche First Lien Delayed Draw Term Loan	S + 550 (75 Floor)	9.82%	02/2031		795		775			0.4			796
MB2 Dental (4)(5)	Unitranche First Lien Revolver			02/2031		-		(3	)		-			-
MB2 Dental	Unitranche First Lien Term Loan	S + 550 (75 Floor)	9.82%	02/2031		5,489		5,442			3.0			5,496
Medical Review Institute of America (5)	Unitranche First Lien Revolver	P + 400 (100 Floor)	11.50%	07/2030		112		105			0.1			112
Medical Review Institute of America	Unitranche First Lien Term Loan	S + 500 (100 Floor)	9.30%	07/2030		5,672		5,620			3.0			5,672
Medical Solutions LLC (7)	Senior Secured First Lien Term Loan	S + 325 (50 Floor)	7.89%	11/2028		1,474		1,401			0.5			956
MPH Acquisition (6)(7)	Senior Secured First Lien Term Loan	S + 425 (50 Floor)	8.54%	12/2030		107		106			0.1			106
MPH Acquisition (6)(7)	Senior Secured First Lien Term Loan	S + 425 (50 Floor)	9.15%	12/2030		883		736			0.4			729
Outcomes Group Holdings, Inc. (7)	Senior Secured First Lien Term Loan	S + 325	7.57%	05/2031		6,973		6,944			3.7			6,984
Upstream Newco Inc (7)	Senior Secured First Lien Term Loan	S + 425	8.80%	11/2026		1,476		1,422			0.7			1,238
Viant Medical Holdings, Inc. (7)	Senior Secured First Lien Term Loan	S + 400	8.32%	10/2031		494		492			0.3			495
Vital Care Buyer, LLC (4)(5)	Unitranche First Lien Revolver			07/2031		-		(3	)		-			-
Vital Care Buyer, LLC	Unitranche First Lien Term Loan	S + 450 (75 Floor)	8.80%	07/2031		2,152		2,132			1.1			2,155
						69,669		68,163			36.2			67,954
Insurance
Accession Risk Management	Senior Secured First Lien Delayed Draw Term Loan	S + 475 (100 Floor)	9.05%	10/2029		1,554		1,560			0.8			1,554
Accession Risk Management	Senior Secured First Lien Delayed Draw Term Loan	S + 475 (100 Floor)	9.04%	10/2029		2,027		2,027			1.1			2,027
See accompanying notes

11

Crescent Private Credit Income Corp. Consolidated Schedule of Investments March 31, 2025 (in thousands, except share and per share data) (Unaudited)
Country/Security/Industry/Company	Investment Type	Interest Term *	Interest Rate	Maturity/ Dissolution Date	Principal Amount, Par Value or Shares **		Cost			Percentage of Net Assets ***			Fair Value
Accession Risk Management	Senior Secured First Lien Term Loan	S + 475 (100 Floor)	9.05%	10/2029		555		557			0.3			555
Accession Risk Management	Senior Secured First Lien Term Loan	S + 475 (100 Floor)	9.06%	10/2029		861		864			0.5			861
Assured Partners (7)	Senior Secured First Lien Term Loan	S + 350	7.82%	01/2029		1,126		1,125			0.6			1,128
Summit Acquisition Inc.	Senior Secured First Lien Term Loan	S + 375	8.07%	10/2026		391		389			0.2			391
The Hilb Group, LLC (5)	Unitranche First Lien Delayed Draw Term Loan	S + 475 (75 Floor)	9.07%	10/2031		24		17			0.0			12
The Hilb Group, LLC (5)	Unitranche First Lien Revolver	S + 475 (75 Floor)	9.07%	10/2031		31		24			0.0			25
The Hilb Group, LLC	Unitranche First Lien Term Loan	S + 475 (75 Floor)	9.07%	10/2031		5,995		5,940			3.2			5,945
Tropolis Holdings LLC (4)(5)	Senior Secured First Lien Delayed Draw Term Loan			02/2031		-		(3	)		(0.0	)		(5	)
Tropolis Holdings LLC (4)(5)	Senior Secured First Lien Revolver			02/2031		-		(1	)		(0.0	)		(1	)
Tropolis Holdings LLC	Senior Secured First Lien Term Loan	S + 450 (100 Floor)	8.81%	02/2031		350		347			0.2			347
						12,914		12,846			6.9			12,839
Materials
Chemours (6)(7)	Senior Secured First Lien Term Loan	S + 350 (50 Floor)	7.82%	08/2028		782		775			0.4			780
Cornerstone (7)	Senior Secured First Lien Term Loan	S + 450	8.82%	05/2031		1,203		1,144			0.5			998
Discovery Purchaser Corporation (7)	Senior Secured First Lien Term Loan	S + 375 (50 Floor)	8.06%	10/2029		1,250		1,240			0.7			1,241
Formulations Parent Corporation (4)(5)	Unitranche First Lien Revolver			11/2030		-		(9	)		-			-
Formulations Parent Corporation	Unitranche First Lien Term Loan	S + 575 (75 Floor)	10.07%	11/2030		3,269		3,215			1.8			3,302
Foundation Building Materials, Inc. (7)(11)	Senior Secured First Lien Term Loan	S + 400	8.29%	01/2031		701		696			0.3			641
Kodiak BP, LLC (7)	Senior Secured First Lien Term Loan	S + 375	8.05%	12/2031		270		269			0.1			260
Online Labels Group, LLC (5)	Senior Secured First Lien Delayed Draw Term Loan	S + 525 (100 Floor)	9.55%	12/2029		88		87			0.0			88
Online Labels Group, LLC (4)(5)	Senior Secured First Lien Delayed Draw Term Loan			12/2029		-		(1	)		-			-
Online Labels Group, LLC (4)(5)	Senior Secured First Lien Revolver			12/2029		-		(2	)		-			-
Online Labels Group, LLC	Senior Secured First Lien Term Loan	S + 525 (100 Floor)	9.55%	12/2029		1,432		1,420			0.8			1,432
Pegasus Steel (5)	Senior Secured First Lien Delayed Draw Term Loan			01/2031		-		-			-			-
Pegasus Steel (5)	Senior Secured First Lien Delayed Draw Term Loan			01/2031		-		-			0.0			1
Pegasus Steel (4)(5)	Senior Secured First Lien Delayed Draw Term Loan			01/2031		-		(2	)		0.0			1
Pegasus Steel	Senior Secured First Lien Term Loan	S + 475 (100 Floor)	9.08%	01/2031		884		884			0.5			886
Pegasus Steel	Senior Secured First Lien Term Loan	S + 475 (100 Floor)	9.05%	01/2031		1,537		1,520			0.8			1,541
Plaze Inc (7)	Senior Secured First Lien Term Loan	S + 375	8.19%	08/2026		458		451			0.2			434
Plaze Inc (7)	Senior Secured First Lien Term Loan	S + 350	7.94%	08/2026		736		727			0.4			697
See accompanying notes

12

Crescent Private Credit Income Corp. Consolidated Schedule of Investments March 31, 2025 (in thousands, except share and per share data) (Unaudited)
Country/Security/Industry/Company	Investment Type	Interest Term *	Interest Rate	Maturity/ Dissolution Date	Principal Amount, Par Value or Shares **		Cost			Percentage of Net Assets ***			Fair Value
USALCO (5)(7)	Senior Secured First Lien Delayed Draw Term Loan	S + 400		09/2031		-		-			-			-
USALCO (7)	Senior Secured First Lien Term Loan	S + 400	8.30%	09/2031		440		440			0.2			441
						13,050		12,854			6.7			12,743
Media and Entertainment
GoodRx (6)(7)	Senior Secured First Lien Term Loan	S + 375	8.07%	06/2029		835		828			0.4			834
Stubhub (7)	Senior Secured First Lien Term Loan	S + 475	9.07%	03/2030		489		485			0.3			489
Univision Communications Inc. (7)	Senior Secured First Lien Term Loan	S + 425 (50 Floor)	8.58%	06/2029		748		744			0.4			727
Yahoo/Verizon Media (7)	Senior Secured First Lien Term Loan	S + 550 (75 Floor)	9.82%	09/2027		943		930			0.5			860
						3,015		2,987			1.6			2,910
Pharmaceuticals, Biotechnology and Life Sciences
Nephron Pharmaceuticals LLC	Unitranche First Lien - Last Out Term Loan	S + 920	13.52%	12/2027		2,500		2,465			1.3			2,463
RN Enterprises, LLC (4)(5)	Unitranche First Lien Delayed Draw Term Loan			10/2031		-		(10	)		(0.0	)		(17	)
RN Enterprises, LLC (5)	Unitranche First Lien Revolver	S + 525 (75 Floor)	9.57%	10/2031		198		186			0.1			187
RN Enterprises, LLC	Unitranche First Lien Term Loan	S + 525 (75 Floor)	9.55%	10/2031		699		692			0.4			692
RN Enterprises, LLC	Unitranche First Lien Term Loan	S + 525 (75 Floor)	9.55%	10/2031		5,473		5,408			2.9			5,418
WCT Group Holdings, LLC (4)(5)	Unitranche First Lien Revolver			12/2029		-		(9	)		-			-
WCT Group Holdings, LLC	Unitranche First Lien Term Loan	S + 475 (75 Floor)	9.05%	12/2029		3,333		3,263			1.8			3,330
						12,203		11,995			6.5			12,073
Real Estate Management and Development
Cushman Wakefield (6)(7)	Senior Secured First Lien Term Loan	S + 375	8.07%	01/2030		302		302			0.2			302
						302		302			0.2			302
Software and Services
Access Records Management (7)	Senior Secured First Lien Term Loan	S + 500 (50 Floor)	9.29%	08/2028		1,119		1,115			0.6			1,120
Advantage Sales (6)(7)	Senior Secured First Lien Term Loan	S + 425	8.54%	10/2027		872		866			0.4			843
Asurion, LLC (7)	Senior Secured First Lien Term Loan	S + 425	8.57%	08/2028		1,125		1,100			0.6			1,116
Bonterra LLC (4)(5)	Unitranche First Lien Delayed Draw Term Loan			03/2032		-		(3	)		(0.0	)		(7	)
Bonterra LLC (5)	Unitranche First Lien Revolver	S + 500 (75 Floor)	9.30%	03/2032		220		213			0.1			213
Bonterra LLC	Unitranche First Lien Term Loan	S + 500 (75 Floor)	9.30%	03/2032		12,458		12,412			6.7			12,396
C-4 Analytics2 (4)(5)	Senior Secured First Lien Delayed Draw Term Loan			05/2030		-		(8	)		-			-
C-4 Analytics2 (5)	Senior Secured First Lien Revolver	S + 550 (100 Floor)	9.81%	05/2030		225		218			0.1			225
C-4 Analytics2	Senior Secured First Lien Term Loan	S + 550 (100 Floor)	9.81%	05/2030		7,345		7,281			4.0			7,345
Cloud Software Group, Inc. (7)	Senior Secured First Lien Term Loan	S + 350 (50 Floor)	7.80%	03/2029		445		433			0.2			441
Cloud Software Group, Inc. (7)	Senior Secured First Lien Term Loan	S + 375 (50 Floor)	8.05%	03/2031		806		801			0.4			799
Concord III, LLC	Unitranche First Lien Term Loan	S + 625 (100 Floor)	10.57%	12/2028		299		294			0.2			299
See accompanying notes

13

Crescent Private Credit Income Corp. Consolidated Schedule of Investments March 31, 2025 (in thousands, except share and per share data) (Unaudited)
Country/Security/Industry/Company	Investment Type	Interest Term *	Interest Rate	Maturity/ Dissolution Date	Principal Amount, Par Value or Shares **		Cost			Percentage of Net Assets ***			Fair Value
Concord III, LLC (5)	Unitranche First Lien Revolver	S + 625 (100 Floor)	10.57%	12/2028		244		241			0.1			244
Concord III, LLC	Unitranche First Lien Term Loan	S + 625 (100 Floor)	10.57%	12/2028		5,618		5,573			3.0			5,618
DS Admiral (7)	Senior Secured First Lien Term Loan	S + 425	8.55%	06/2031		835		827			0.4			807
Ensono (7)	Senior Secured First Lien Term Loan	S + 400 (75 Floor)	8.32%	05/2028		788		779			0.4			777
Enverus (5)	Unitranche First Lien Delayed Draw Term Loan	S + 550 (75 Floor)	9.82%	12/2029		138		135			0.1			138
Enverus (4)(5)	Unitranche First Lien Revolver			12/2029		-		(4	)		-			-
Enverus	Unitranche First Lien Term Loan	S + 550 (75 Floor)	9.82%	12/2029		4,396		4,344			2.3			4,396
Evergreen IX Borrower 2023, LLC (4)(5)	Unitranche First Lien Revolver			09/2029		-		(9	)		-			-
Evergreen IX Borrower 2023, LLC	Unitranche First Lien Term Loan	S + 475 (75 Floor)	9.05%	09/2030		4,975		4,930			2.7			4,986
Evergreen IX Borrower 2023, LLC	Unitranche First Lien Term Loan	S + 475 (75 Floor)	9.05%	09/2030		4,444		4,349			2.4			4,453
Fortress (7)	Senior Secured First Lien Term Loan	S + 375	8.07%	05/2031		547		545			0.3			547
Granicus, Inc.	Unitranche First Lien Delayed Draw Term Loan	S + 350 (100 Floor) (including 225 PIK)	10.04%	01/2031		582		577			0.3			580
Granicus, Inc. (4)(5)	Unitranche First Lien Revolver			01/2031		-		(5	)		(0.0	)		(5	)
Granicus, Inc. (5)	Unitranche First Lien Term Loan	S + 350 (100 Floor) (including 225 PIK)	10.04%	01/2031		3,933		3,904			2.1			3,923
Granicus, Inc. (5)	Unitranche First Lien Delayed Draw Term Loan	S + 350 (75 Floor) (including 225 PIK)	10.34%	01/2031		364		362			0.2			363
Medicus IT (4)(5)	Unitranche First Lien Delayed Draw Term Loan			07/2031		-		(13	)		-			-
Medicus IT (5)	Unitranche First Lien Revolver	S + 525 (75 Floor)	9.51%	07/2031		110		100			0.1			110
Medicus IT	Unitranche First Lien Term Loan	S + 525 (75 Floor)	9.55%	07/2031		6,070		6,014			3.2			6,070
MH Sub I, LLC (7)	Senior Secured First Lien Term Loan	S + 425 (50 Floor)	8.47%	12/2031		956		935			0.5			880
Milano Acquisition Corp (Gainwell) (7)	Senior Secured First Lien Term Loan	S + 425 (75 Floor)	8.55%	10/2027		840		821			0.4			790
Net Health Acquisition Corp. (5)	Unitranche First Lien Revolver	S + 475 (75 Floor)	9.07%	07/2031		114		104			0.1			113
Net Health Acquisition Corp.	Unitranche First Lien Term Loan	S + 475 (75 Floor)	9.07%	07/2031		8,841		8,763			4.8			8,834
Rightworks LLC (5)	Unitranche First Lien Revolver	S + 500 (100 Floor)	9.32%	05/2029		165		165			0.1			165
Rightworks LLC	Unitranche First Lien Term Loan	S + 500 (100 Floor)	9.32%	05/2029		11,522		11,522			6.2			11,522
Rocket Software (7)	Senior Secured First Lien Term Loan	S + 475	8.57%	11/2028		1,477		1,465			0.8			1,474
See accompanying notes

14

Crescent Private Credit Income Corp. Consolidated Schedule of Investments March 31, 2025 (in thousands, except share and per share data) (Unaudited)
Country/Security/Industry/Company	Investment Type	Interest Term *	Interest Rate	Maturity/ Dissolution Date	Principal Amount, Par Value or Shares **		Cost			Percentage of Net Assets ***				Fair Value
Skopima Consilio Parent LLC (7)	Senior Secured First Lien Term Loan	S + 375 (50 Floor)	8.07%	05/2028		748		748			0.4				744
SMX Group, LLC (7)	Senior Secured First Lien Term Loan	S + 450	8.80%	02/2032		5,434		5,381			2.9				5,434
Sovos Compliance, LLC (7)	Senior Secured First Lien Term Loan	S + 400	8.29%	08/2029		1,439		1,436			0.8				1,435
						89,494		88,711			47.8				89,188
Telecommunication Services
CCI Buyer (7)	Senior Secured First Lien Term Loan	S + 400 (75 Floor)	8.30%	12/2027		1,481		1,476			0.8				1,483
						1,481		1,476			0.8				1,483
Transportation
AIT Worldwide Logistics Holdings, Inc. (7)	Senior Secured First Lien Term Loan	S + 475	9.05%	04/2030		447		445			0.2				447
						447		445			0.2				447
Total Debt Investments United States						273,532	$	270,057			144.2		%	$	269,980
Equity Investments
Commercial and Professional Services
Iris Buyer, LLC	Common Stock					192		193			0.1				215
Iris Buyer, LLC	Common Stock					192,308		-			0.0				9
								193			0.1				224
Diversified Financials
WhiteHawk Evergreen Fund, LP (2)(6)(9)(10)	Partnership Interest							4,500			2.5				4,629
								4,500			2.5				4,629
Health Care Equipment and Services
BVI Medical Inc.	Common Stock					681		909			0.5				909
IVX Health Merger Sub, Inc.	Common Stock					880		880			0.6				1,204
Vital Care Buyer, LLC	Common Stock					64		64			0.0				56
Vital Care Buyer, LLC	Common Stock					649		1			0.0				15
								1,854			1.1				2,184
Pharmaceuticals, Biotechnology and Life Sciences
RN Enterprises, LLC	Common Stock					633		633			0.3				633
WCT Group Holdings, LLC	Common Stock					118		1,176			1.0				1,886
Nephron Pharmaceuticals LLC	Common Stock					42,667		-			0.0				43
								1,809			1.3				2,562
Total Equity Investments United States							$	8,356			5.1		%	$	9,599
Switzerland
Debt Investments
Pharmaceuticals, Biotechnology and Life Sciences
Solvias AG LP (4)(5)(6)	Senior Secured First Lien Revolver			02/2032		CHF 0		(34	)		(0.0	)			(36	)
Solvias AG LP (6)	Senior Secured First Lien Term Loan	S + 550 (75 Floor)	6.25%	02/2032		CHF 10,457		10,034			5.4				10,196
								10,000			5.4		%		10,160
Total Debt Investments Switzerland							$	10,000			5.4			$	10,160
Equity Investments
Pharmaceuticals, Biotechnology and Life Sciences
Sequence Parent (6)	Common Stock					48		48			0.0				48
Sequence Parent (6)	Common Stock					3,290		197			0.1				197
								245			0.1		%		245
Total Equity Investments Switzerland							$	245			0.1			$	245
See accompanying notes

15

Crescent Private Credit Income Corp. Consolidated Schedule of Investments March 31, 2025 (in thousands, except share and per share data) (Unaudited)
Country/Security/Industry/Company	Investment Type	Interest Term *	Interest Rate	Maturity/ Dissolution Date	Principal Amount, Par Value or Shares **		Cost			Percentage of Net Assets ***				Fair Value
United Kingdom
Debt Investments
Commercial and Professional Services
Hamsard 3778 Limited (4)(5)(6)	Unitranche First Lien Delayed Draw Term Loan			10/2031	£	-		(7	)		(0.0	)			(7	)
Hamsard 3778 Limited (6)	Unitranche First Lien Term Loan	S + 550	9.96%	10/2031	£	3,683		3,614			1.9				3,591
Ineos Quattro (6)	Senior Secured First Lien Term Loan	S + 425	8.57%	04/2029	£	440		432			0.2				423
								4,039			2.1				4,007
Diversified Financials
Primrose Bidco Limited (6)	Unitranche First Lien Term Loan	S + 550	10.03%	11/2031	£	2,545		2,424			1.3				2,475
								2,424			1.3				2,475
Materials
Fortis 333, Inc (6)	Senior Secured First Lien Term Loan	S + 350	7.80%	02/2032	£	133		133			0.1				132
								133			0.1				132
Software
Sophos Holdings (6)(7)	Senior Secured First Lien Term Loan	S + 350	7.94%	03/2027	$	225		225			0.1				226
								225			0.1				226
Total Debt Investments United Kingdom							$	6,821		$	3.6		%	$	6,840
Netherlands
Debt Investments
Commercial and Professional Services
Avidity Acquisition B.V. (4)(5)(6)	Unitranche First Lien - Last Out Delayed Draw Term Loan	E + 525	5.25%	03/2032				(1	)		(0.0	)			(1	)
Avidity Acquisition B.V. (6)	Unitranche First Lien - Last Out Term Loan	E + 525	7.68%	03/2032	€	133		127			0.1				131
Van Der Steen (4)(5)(6)	Unitranche First Lien Delayed Draw Term Loan	E + 600	6.00%	05/2031				(14	)		-				-
Van Der Steen (6)	Unitranche First Lien Term Loan	E + 600	8.36%	05/2031	€	3,552		3,453			1.9				3,552
Pitch MidCo B.V. (5)(6)	Unitranche First Lien Delayed Draw Term Loan	E + 625	6.25%	04/2031				-			-				-
Pitch MidCo B.V. (6)	Unitranche First Lien Term Loan	E + 625	8.61%	04/2031	€	3,093		2,984			1.6				3,093
								6,549			3.6				6,775
Total Debt Investments Netherlands							$	6,549			3.6		%	$	6,775
Australia
Debt Investments
Commercial and Professional Services
Ancora Bidco PTY LTD (4)(5)(6)	Unitranche First Lien Delayed Draw Term Loan			11/2030		AUD 0		(13	)		(0.0	)			(4	)
Ancora Bidco PTY LTD (6)	Unitranche First Lien Term Loan	B + 500 (50 Floor)	9.15%	11/2030		AUD 3,235		3,348			1.7				3,215
								3,335			1.7				3,211
Total Debt Investments Australia							$	3,335			1.7		%	$	3,211
See accompanying notes

16

Crescent Private Credit Income Corp. Consolidated Schedule of Investments March 31, 2025 (in thousands, except share and per share data) (Unaudited)
Country/Security/Industry/Company	Investment Type	Interest Term *	Interest Rate	Maturity/ Dissolution Date	Principal Amount, Par Value or Shares **		Cost		Percentage of Net Assets ***			Fair Value
Equity Investments
Commercial and Professional Services
Ancora Bidco PTY LTD (6)	Common Stock					64,327,036		663		0.3			619
Ancora Bidco PTY LTD (6)	Common Stock					3,385,633		35		0.0			33
								698		0.3			652
Total Equity Investments Australia							$	698		0.3	%	$	652
Canada
Debt Investments
Energy
Rockpoint Gas Storage Partners (6)(7)	Senior Secured First Lien Term Loan	S + 300	7.32%	09/2031		463		459		0.2			462
								459		0.2			462
Total Debt Investments Canada							$	459		0.2	%	$	462
Finland
Debt Investments
Commercial and Professional Services
Saarni (6)	Unitranche First Lien Term Loan	E + 525	7.67%	03/2032	€	109		108		0.1			107
								108		0.1			107
Total Debt Investments Finland							$	108		0.1	%	$	107
Total Investments							$	306,628		163.9	%	$	308,031
Cash Equivalents
Dreyfus Government Cash Management Institutional Fund	Cash Equivalents					917		917		0.5			917
Goldman Sachs FS Government Fund	Cash Equivalents					6,061		6,061		3.2			6,061
Cash Equivalents Total							$	6,978		3.7	%	$	6,978
Investments and Cash Equivalents Total							$	313,606		167.6	%	$	315,009

*The majority of the investments bear interest at a rate that may be determined by reference to Secured Overnight Financing Rate (“SOFR” or “S”), Prime (“P”), EURIBOR (“E”), SONIA (“SN”), or BBSY ("B") and which reset monthly, quarterly, semiannually, or annually. For each, the Company has provided the spread over the reference rate and the current interest rate in effect at the reporting date. The impact of a credit spread adjustment, if applicable, is included within the stated all-in interest rate. As of March 31, 2025, the reference rates for the Company’s variable rate loans are represented in the below table. Certain investments are subject to an interest rate floor. For fixed rate loans, a spread above a reference rate is not applicable.

**The total par amount is presented for debt investments, while the number of shares or units owned is presented for equity investments. Par amount is denominated in U.S. Dollars ($) unless otherwise noted.

***Percentage is based on net assets of $187,945 as of March 31, 2025.

Reference Rate	Overnight		1 month		3 month		6 Month		12 Month
Prime (“P”)	7.50%			-		-		-		-
SOFR (“S”)		-	4.32%		4.29%		4.19%		4.01%
EURIBOR (“E”)		-	2.36%		2.34%		2.34%		2.31%
SONIA (“SN”)	4.46%			-		-		-		-
BBSY ("B")		-		-	4.13%			-		-
SARON ("SR")		-	0.21%			-		-		-

(1)All positions held are non-controlled/non-affiliated investments, unless otherwise noted, as defined by the Investment Company Act. Non-controlled/non-affiliated investments are investments that are neither controlled nor affiliated.

(2)All debt investments are income-producing, unless otherwise noted. Equity and member interests are non-income-producing unless otherwise noted. The Company generally acquires its investments in private transactions exempt from registration under the Securities Act. Its investments are therefore generally subject to certain limitations on resale, and may be deemed to be “restricted securities” under the Securities Act.

(3)The fair value of the investment was determined using significant unobservable inputs unless otherwise noted, as defined by the Investment Company Act. See Note 2 “Summary of Significant Accounting Policies”.

See accompanying notes

17

(4)The negative cost, if applicable, is the result of the capitalized discount or unfunded commitment being greater than the principal amount outstanding on the loan. The negative fair value, if applicable, is the result of the capitalized discount or unfunded commitment on the loan.

(5)Position or portion thereof is an unfunded loan commitment and no interest is being earned on the unfunded portion. The investment may be subject to an unused/letter of credit facility fee. See Note 7 “Commitments and Contingencies”.

(6)Investment is not a qualifying asset as defined under section 55(a) of the Investment Company Act of 1940. Qualifying assets must represent at least 70% of total assets at the time of acquisition. The Company’s percentage of non-qualifying assets based on fair value was 12.3% as of March 31, 2025.

(7)This investment is valued using observable inputs and is considered a Level 2 investment per FASB guidance under ASC 820. See Note 5 for further information related to investments at fair value.

(8)Fixed rate investment.

(9)This investment was valued using net asset value as a practical expedient for fair value. Consistent with FASB guidance under ASC 820, these investments are excluded from the hierarchical level.

(10)Capital contributed to this investment is subject to restrictions on withdrawal.

(11)Position or portion thereof unsettled as of March 31, 2025
 

See accompanying notes

18

Crescent Private Credit Income Corp. Consolidated Schedule of Investments December 31, 2024 (in thousands, except share and per share data)
Country/Security/Industry/Company	Investment Type	Interest Term *	Interest Rate	Maturity/ Dissolution Date	Principal Amount, Par Value or Shares **		Cost			Percentage of Net Assets ***				Fair Value
Investments (1)(2)(3)
United States
Debt Investments
Capital Goods
Ahead DB Holdings (7)	Senior Secured First Lien Term Loan	S + 350	7.83%	02/2031	$	96	$	96			0.1		%	$	97
Brand Industrial Services (7)	Senior Secured First Lien Term Loan	S + 450	9.07%	08/2030		310		309			0.2				301
Conair (7)	Senior Secured First Lien Term Loan	S + 375	8.11%	05/2028		990		987			0.5				894
CP Atlas (7)	Senior Secured First Lien Term Loan	S + 375 (50 Floor)	8.11%	11/2027		1,237		1,227			0.7				1,209
Fairbanks Morse Defense (7)	Senior Secured First Lien Term Loan	S + 450 (75 Floor)	9.05%	06/2028		1,013		1,001			0.6				1,020
GB Eagle Buyer, Inc. (4)(5)	Unitranche First Lien Delayed Draw Term Loan			11/2030		-		(6	)		(0.0	)			(13	)
GB Eagle Buyer, Inc. (4)(5)	Unitranche First Lien Revolver			11/2030		-		(5	)		(0.0	)			(5	)
GB Eagle Buyer, Inc.	Unitranche First Lien Term Loan	S + 475 (100 Floor)	9.34%	11/2030		3,197		3,166			1.8				3,165
Parts Town (5)	Unitranche First Lien Delayed Draw Term Loan			04/2030		-		-			-				-
Parts Town	Unitranche First Lien Term Loan	S + 325 (100 Floor) (including 175 PIK)	9.33%	04/2030		5,272		5,240			2.8				5,272
White Cap (7)	Senior Secured First Lien Term Loan	S + 325	7.61%	10/2029		1,490		1,488			0.8				1,495
						13,605		13,503			7.5				13,435
Commercial and Professional Services
CMG Holdco	Unitranche First Lien Delayed Draw Term Loan	S + 475 (100 Floor)	9.18%	10/2028		442		438			0.2				440
CMG Holdco	Unitranche First Lien Delayed Draw Term Loan	S + 475 (100 Floor)	9.18%	10/2028		1,112		1,101			0.6				1,106
CMG Holdco (5)	Unitranche First Lien Delayed Draw Term Loan	S + 475 (100 Floor)	9.18%	10/2028		877		860			0.5				869
CMG Holdco (4)(5)	Unitranche First Lien Delayed Draw Term Loan			10/2028		-		(6	)		(0.0	)			(3	)
CMG Holdco (5)	Unitranche First Lien Revolver	S + 475 (100 Floor)	9.31%	10/2028		88		83			0.0				85
CMG Holdco	Unitranche First Lien Term Loan	S + 475 (100 Floor)	9.18%	10/2028		750		743			0.4				746
Corelogic (7)	Senior Secured First Lien Term Loan	S + 350 (50 Floor)	7.86%	06/2028		1,485		1,462			0.8				1,469
Crisis Prevention Institute, Inc. (7)	Senior Secured First Lien Term Loan	S + 400 (50 Floor)	8.43%	04/2031		323		322			0.2				325
Duraserv LLC (5)	Senior Secured First Lien Delayed Draw Term Loan	S + 450 (75 Floor)	8.90%	06/2031		885		868			0.5				856
Duraserv LLC (4)(5)	Senior Secured First Lien Revolver			06/2030		-		(8	)		(0.0	)			(14	)
Duraserv LLC	Senior Secured First Lien Term Loan	S + 450 (75 Floor)	8.90%	06/2031		4,809		4,762			2.6				4,731
Galway Borrower, LLC (5)	Unitranche First Lien Revolver	S + 450 (75 Floor)	8.82%	09/2028		58		52			0.0				60
Galway Borrower, LLC (5)	Unitranche First Lien Delayed Draw Term Loan	S + 450 (75 Floor)	8.82%	09/2028		99		54			0.1				113
See accompanying notes

19

Crescent Private Credit Income Corp. Consolidated Schedule of Investments December 31, 2024 (in thousands, except share and per share data)
Country/Security/Industry/Company	Investment Type	Interest Term *	Interest Rate	Maturity/ Dissolution Date	Principal Amount, Par Value or Shares **	Cost	Percentage of Net Assets ***	Fair Value