You might also like
Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a specialty finance company that provides customized credit solutions to companies with limited access to public or syndicated capital markets. Operating as a closed-end, externally managed Business Development Company (BDC), OCSL focuses on generating current income and capital appreciation through a diverse range of investment strategies. The company offers tailored financing solutions, including loans, bonds, and equity investments, to businesses across various industries.
- First and Second Lien Loans - Provides senior secured loans to companies, offering priority claims on assets in case of default.
- Unsecured and Mezzanine Loans - Offers subordinated debt solutions with higher yields, catering to companies seeking flexible financing options.
- Bonds - Invests in corporate bonds to generate income and diversify its portfolio.
- Preferred Equity - Provides equity investments with preferential rights to dividends and assets during liquidation.
- Equity Co-Investments - Partners with other investors to acquire equity stakes in companies, aligning interests for long-term growth.
- Structured Finance and Non-Traditional Investments - Engages in complex financial structures and opportunistic investments, particularly during market dislocations.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Armen Panossian Executive | CEO and Co-CIO | Managing Director and Head of Performing Credit at Oaktree; Advisory Board of Stanford Institute for Economic Policy Research; Member of State Bar of California | Armen Panossian has been with OCSL since September 2019, serving as CEO and Co-CIO. He oversees performing credit activities at Oaktree and is involved in various advisory roles. | |
Ashley Pak Executive | Chief Compliance Officer | N/A | Ashley Pak has been Chief Compliance Officer since November 2021, with extensive experience in compliance at Oaktree since 2007. | |
Christopher McKown Executive | CFO and Treasurer | N/A | Christopher McKown has been CFO and Treasurer since November 2021, previously serving as Assistant Treasurer. He has a background in audit practice at KPMG. | |
Mathew Pendo Executive | President | Managing Director, Head of Corporate Development and Capital Markets at Oaktree; Board Member of 17 Capital | Mathew Pendo has been President of OCSL since August 2019, previously serving as COO. He plays a key role in corporate development and capital markets at Oaktree. | |
Raghav Khanna Executive | Co-CIO | N/A | Raghav Khanna was appointed Co-CIO in November 2024. He has been with Oaktree since 2012, focusing on strategic credit and direct lending. | |
Bruce Zimmerman Board | Lead Independent Director | Senior Advisor at Dalio Family Office; Board Member of Advanced Merger Partners, Inc. | Bruce Zimmerman has been a Board member since October 2017, serving as Lead Independent Director and Chair of the Co-Investment Committee. | |
Craig Jacobson Board | Chair of Compensation Committee | Founder and Partner at Hansen, Jacobson, Teller, Hoberman, Newman, Warren, Richman, Rush, Kaller, Gellman, Meigs & Fox LLP; Founder of Whisper Advisors; Board Member at Expedia, Charter Communications | Craig Jacobson has been a Board member since October 2017, with expertise in media business and investment banking. | |
Deborah Gero Board | Chair of Audit Committee | Director of Resolution Re, Newport Re; Member of United Way of Greater Los Angeles Investment Committee; Board of Trustees Member of OSCF | Deborah Gero has been on the OCSL Board since March 2019, recognized as an audit committee financial expert with extensive experience in risk management. | |
John B. Frank Board | Chairman of the Board | Vice Chairman of Oaktree; Board Member of Chevron, ADRx, Urban 626, Oaktree Acquisition Corp. III; Trustee at Wesleyan University, XPRIZE Foundation, The James Irvine Foundation | John B. Frank has been Chairman of the Board since October 2017, bringing legal and executive expertise from his roles at Oaktree and other organizations. | |
Phyllis R. Caldwell Board | Director | Board Member at OneMain Holdings, JBG SMITH Properties; Former Board Member at Ocwen Financial Corporation; Founder of Wroxton Civic Ventures | Phyllis Caldwell joined the OCSL Board in December 2021, with a background in economic recovery and housing policy. |
- With the new supplemental dividend policy, can you provide more clarity on how much of the excess earnings above the base dividend you intend to pay out versus retain? Is the 50% payout proportion fixed, or could it vary based on certain factors?
- Regarding the total return hurdle added to your incentive fee structure, how do realized and unrealized losses, including foreign currency gains and losses, impact the calculation of incentive fees? Should we expect foreign currency movements to affect the fees you earn?
- Given the recent reset of your dividend and changes to your management fee structure, what are your short-term and medium-term goals for the company? Specifically, how do these changes support your strategy to grow the asset base and address nonaccrual assets in the portfolio?
- Can you explain the rationale behind Oaktree purchasing $100 million of newly issued common shares at NAV, instead of buying back shares on the open market at a significant discount? How does this decision benefit existing shareholders?
- With the timing of the $100 million equity injection and considering your existing cash balances, should we anticipate a period of cash drag affecting net investment income over the next few quarters? How quickly do you plan to deploy this capital, and what impact will it have on earnings?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Oaktree Strategic Income II, Inc. | 2023 | The deal was completed on January 23, 2023 in a two-step merger whereby OSI2 merged with and into the surviving Oaktree Specialty Lending Corporation, executed under the OSI2 Merger Agreement dated September 14, 2022. This transaction resulted in the acquisition of $572 million of investments at fair value. |
No recent press releases or 8-K filings found for OCSL.