Orlando, Fla., May 13, 2024 (GLOBE NEWSWIRE) -- CNL Strategic Capital, LLC ("CNL Strategic Capital," the "Company" or "we") seeks to provide current income and long-term appreciation to investors by acquiring controlling equity stakes in combination with loan positions in privately owned middle-market businesses. The Company announced its operating results for the three months ended March 31, 2024. Highlights: As of March 31, 2024, CNL Strategic Capital's portfolio consisted of equity and debt investments in 14 portfolio companies and had approximately $1.1 billion in total assets, compared with approximately $1.0 billion as of Dec. 31, 2023. For the three months ended March 31, 2024, the Company recognized a net change in unrealized appreciation on investments of approximately $16.2 million and had total investment income of approximately $14.9 million. That compares with a net change in unrealized appreciation on investments of $13.1 million and total investment income of approximately $13.3 million during the first three months of 2023. The cumulative total investment return based on net asset value (NAV) since inception and through March 31, 2024, was approximately 89.0% for Class FA shares, 75.4% for Class A shares, 65.0% for Class T shares, 66.8% for Class D shares, 77.4% for Class I shares and 59.6% for Class S shares.1 These returns are prior to any applicable sales load and assume shareholders reinvested their distributions. For the three months ended March 31, 2024, CNL Strategic Capital received approximately $56.5 million in net offering proceeds, including approximately $4.1 million received through the distribution reinvestment plan. Since beginning operations in February 2018 until March 31, 2024, CNL Strategic Capital has raised approximately $966.0 million, including $32.3 million received through the distribution reinvestment plan. Cash distributions declared net of distributions reinvested were funded from the following sources (in thousands):   Three Months Ended March 31,   2024   2023   Amount   Percentage2   Amount   Percentage2 Net investment income before Expense Support (reimbursement) $ 4,426     93.2 %   $ 4,798      119.6  % Expense Support (reimbursement)   295     6.2       113     2.8    Net investment income $ 4,721     99.4 %   $ 4,911      122.4 % Cash distributions net of distributions reinvested in excess of net investment income