Oaktree Capital Group, LLC announced that Oaktree Capital Management, L.P. has closed its asset purchase agreement pursuant to which Oaktree has become the new investment adviser to two business development companies: Oaktree Specialty Lending Corporation and Oaktree Strategic Income Corporation. Oaktree portfolio manager Edgar Lee has been named Chief Executive Officer of both Oaktree Specialty Lending and Oaktree Strategic Income. Other members of the executive leadership team for the BDCs are Matt Pendo, Chief Operating Officer, Mel Carlisle, Chief Financial Officer and Kim Larin, Chief Compliance Officer.

John Frank, Vice Chairman of OCG has been appointed Chairman of the Boards of Directors of both Oaktree Specialty Lending Corporation and Oaktree Strategic Income Corporation, and Marc Gamsin, Craig Jacobson, Richard Ruben and Bruce Zimmerman have been appointed as new independent directors. The Boards of Directors of both BDCs are comprised of a majority of independent directors.