11:55 AM EDT, 04/30/2024 (MT Newswires) -- Oaktree Specialty Lending ( OCSL ) said Tuesday it will reduce its base management fee to an annual rate of 1% from 1.50% on gross assets, effective July 1.

This includes any investments made with borrowings, but excludes any cash and cash equivalents, the company said.

Oaktree said the new base management fee is expected to increase its net investment income by about $0.15 per share annually.

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