Executives at Oaktree Capital Management laid out their near-term plan to manage Fifth Street Asset Management’s business development companies on the firm’s Thursday second-quarter earnings call, a strategy that includes taking several steps to stabilise the targeted mid-market lenders’ portfolios.
Los Angeles-based Oaktree’s chief executive officer, Jay Wintrob, said the firm plans to emphasise reducing the level of credits on non-accrual, and to post more consistent results as it begins managing the two BDCs, Fifth Street Finance Corp.
