A private credit fund managed by Carlyle Group Inc. cut the value of its assets in the first quarter and lowered its dividend, while reporting that it originated more loan deals.

Carlyle Secured Lending Inc., a business development company that provides loans to mostly small and mid-size companies, cut its dividend to 35 cents a share for the current quarter, the firm said in a statement Monday. That’s down from 40 cents a share in the first quarter.