Christopher McKown
About Christopher McKown
Christopher McKown (age 43) serves as Chief Financial Officer and Treasurer of Oaktree Specialty Lending Corporation (OCSL) since November 2021; he is a Managing Director at Oaktree responsible for fund accounting and reporting for its Strategic Credit strategy and is a Certified Public Accountant (inactive) with a B.A. in business economics (minor in accounting) from UCLA, previously in KPMG’s audit practice . OCSL’s externally managed structure means McKown receives no direct compensation, equity awards, or options from the company, and executive pay is not tied to company TSR/EBITDA metrics; OCSL is prohibited from issuing equity incentive compensation to officers under the Investment Company Act, with executive compensation paid by Oaktree and an allocable portion reimbursed by OCSL . OCSL’s Securities Trading Policy prohibits short sales and derivative transactions in OCSL stock and permits pledging only with Chief Compliance Officer pre-approval; no officers or directors adopted or terminated Rule 10b5-1 trading plans in FY2024 . McKown’s beneficial ownership is de minimis (less than 1% of shares outstanding), consistent with the externally managed BDC model .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Oaktree Specialty Lending Corporation (OCSL) | Chief Financial Officer & Treasurer | Nov 2021–present | Senior finance leadership for a BDC; officer of fund complex entities . |
| Oaktree Strategic Income II, Inc. (OSI2) | Chief Financial Officer & Treasurer | Jan 2022–Jan 2023 | CFO/Treasurer of adviser-managed BDC prior to merger integration . |
| Oaktree Strategic Income II, Inc. (OSI2) | Assistant Treasurer | Jul 2018–Jan 2022 | Treasury and reporting support for adviser-managed BDC . |
| OCSL | Assistant Treasurer | Oct 2017–Nov 2021 | Treasury/reporting support before CFO appointment . |
| Oaktree Specialty Lending Corporation (OCSI) | Assistant Treasurer | Oct 2017–Mar 2021 | Treasury/reporting support ahead of OCSI merger into OCSL . |
| Oaktree Capital Management | Managing Director (Strategic Credit) | 2011–present | Leads fund accounting/reporting for Strategic Credit strategy . |
| KPMG LLP | Audit practice | Pre‑2011 | Audit background; foundational technical accounting skills . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Oaktree Strategic Credit Fund (OSCF) | Chief Financial Officer & Treasurer | Dec 2021–present | Officer of continuously offered BDC in the fund complex . |
| Oaktree Gardens OLP, LLC (OLPG) | Chief Financial Officer & Treasurer | Feb 2023–present | Officer of private BDC in the fund complex . |
| Oaktree Capital Management | Managing Director | 2011–present | Oversees fund accounting/reporting for Strategic Credit strategy . |
Fixed Compensation
OCSL does not directly compensate executive officers; compensation is paid by Oaktree, and OCSL reimburses an allocable portion of CFO/CCO and support staff costs at cost (no markup) under the Administration Agreement . The Compensation Committee reviews and approves reimbursement of these allocable compensation costs .
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Allocable compensation incurred by Oaktree Administrator for CFO/CCO/support ($USD) | $1.3 million | $1.5 million |
| Amount reimbursed by OCSL ($USD) | $0.9 million | $1.1 million |
Notes:
- Executives do not receive direct salaries, bonuses, or equity awards from OCSL due to BDC regulatory constraints .
- Administration Agreement provides for reimbursement at cost for CFO/CCO/staff and allocated overhead (rent at market rates; termination rights upon 60 days’ notice) .
Performance Compensation
| Item | Status/Terms |
|---|---|
| Equity incentives (RSUs/PSUs/Options) | Prohibited for officers under the Investment Company Act; OCSL cannot issue equity incentive compensation or options to officers . |
| Cash bonus at company | Not applicable; executives are compensated by Oaktree; no direct cash bonus disclosed by OCSL . |
| Performance metrics tied to pay | Not disclosed by OCSL; pay-for-performance is managed by Oaktree, not OCSL . |
| 10b5‑1 trading plans | None adopted/terminated by officers/directors in FY2024 . |
| Hedging/derivatives | Prohibited; no short sales or derivatives in OCSL stock allowed under policy . |
| Pledging | Permitted only with Chief Compliance Officer pre‑approval . |
Equity Ownership & Alignment
| Holder | Shares Beneficially Owned | Ownership % of Shares Outstanding |
|---|---|---|
| Christopher McKown (Jan 5/6 record dates) | 5,655 (as of Jan 5, 2024) ; 6,405 (as of Jan 6, 2025) | <1% in each year (denoted by “*”) |
Additional alignment policies:
- Director stock ownership guidelines exist (holding stock equal to prior year compensation), but no executive ownership guidelines are disclosed; executives are prohibited from receiving equity compensation from OCSL .
- Pledging is only permitted with pre‑approval; no specific pledging disclosures for McKown are provided .
Employment Terms
| Term | Disclosure |
|---|---|
| Employer | Oaktree (executive pay is set/paid by Oaktree or affiliates; OCSL reimburses allocable costs) . |
| Employment agreement with OCSL | Not applicable; OCSL does not directly employ/compensate executive officers . |
| Severance / change‑of‑control | Not disclosed by OCSL for executives; OCSL does not directly compensate officers . |
| Clawback | Not disclosed; Code of Business Conduct and Joint Code of Ethics in place; no clawback terms specified for executives . |
| Non‑compete / non‑solicit | Not disclosed by OCSL for executives . |
| Governance oversight of pay | Compensation Committee reviews and approves reimbursement of allocable compensation for CFO/CCO and non‑investment professionals . |
Governance & Committees Relevant to CFO Oversight
- Compensation Committee: Reviews and approves OCSL’s reimbursement of allocable compensation for CFO/CCO/staff; chaired by Craig Jacobson; all independent directors .
- Audit Committee: Oversees accounting/financial reporting, internal controls, valuation; chaired by Deborah Gero, designated audit committee financial expert .
- Securities Trading Policy: Prohibits short sales/derivatives; permits pledging with pre‑approval; no Rule 10b5‑1 plans adopted/terminated in FY2024 .
Investment Implications
- Pay-for-performance signal muted: As an externally managed BDC, McKown’s compensation and incentives are determined by Oaktree, with no OCSL equity/option awards or company-level TSR/EBITDA incentive linkage—reducing direct alignment levers typically used in public companies .
- Insider selling pressure appears low: No Rule 10b5‑1 plans in FY2024 and trading policy restrictions (no shorts/derivatives, pledging only with pre‑approval) limit opportunistic selling mechanics, though small personal ownership (<1%) limits “skin‑in‑the‑game” alignment .
- Governance oversight exists but reimbursement-based: The Compensation Committee’s role is confined to approving reimbursement of allocable compensation rather than setting executive pay structures, reflecting limited board control over executive incentives .
- Cross‑platform responsibilities: McKown’s CFO/Treasurer roles across OSCF and OLPG emphasize Oaktree platform integration; while positive for operational execution, compensation/retention dynamics reside at the adviser level, not OCSL’s proxy-specified programs .
Bottom line: Traditional executive trading and pay-for-performance signals are structurally limited by OCSL’s externally managed BDC model; investors should focus on adviser economics, reimbursement trends, governance policies, and McKown’s cross‑platform execution rather than equity-based incentives or sell‑pressure indicators .