Oaktree Cuts Fees on Private Credit Fund After Earnings Decline
- Management fees slashed to 1% of assets from 1.5% previously
- Move follows negative credit outlook revision by Moody’s
Armen Panossian
Photographer: Eva Marie Uzcategui/BloombergThis article is for subscribers only.
Oaktree Capital Management cut management fees on a private credit fund aimed at individual investors by a third, following an increase in problem loans and disappointing earnings.
The Los Angeles-based asset manager said this week it has permanently lowered the base management fee it charges on its business development company Oaktree Specialty Lending Corp. to 1% of gross assets from 1.5% previously.