Oaktree Specialty Lending Corp

Oaktree Specialty Lending Corporation is a business development company that originates and manages debt and equity investments in middle-market companies. The firm functions as a direct lender, providing capital solutions across multiple debt structures including first lien, second lien, unsecured, mezzanine, and preferred equity instruments. The company typically deploys between $5 million and $75 million per transaction and targets portfolio companies with enterprise values between $20 million and $150 million and EBITDA between $3 million and $50 million.

The firm's investment strategy focuses on sponsoring a broad range of industries including business services, healthcare, software and IT services, manufacturing, education services, consumer retail, media and advertising, real estate, chemicals, and biotechnology. Common transaction types include bridge financing, sponsor-led acquisitions, expansions, and management buyouts. The company operates primarily in North America and maintains a hold size of up to $75 million per investment, with the ability to underwrite transactions up to $100 million.

Revenue is generated through interest income on debt investments, fees charged on originated loans and commitments, and potential equity appreciation. As a regulated investment company structured as a business development company, OCSL is required to distribute substantially all of its taxable income to shareholders as dividends. The firm is headquartered in Los Angeles and operates as a subsidiary within Oaktree Capital Group's platform.