Fifth Street Floating Rate BDC (FSFR) is getting a new name as Oaktree Strategic Income Corp. (OCSI). On July 14, 2017, Oaktree and Fifth Street Asset Management announced that Oaktree will take over the management of the BDC. FSFR will become OSCI when the deal closes.
Big changes on fees
FSFR will get a new name, and lower fees. The 1% annual management fee will not change. The 20% incentive fee will be reduced to 17.5%.
Recent earnings metrics from three months ended March 31, 2017 are as follows:
Net asset value: $10.83 per share
Net investment income: $0.17 per share
Dividend: $0.19 per share
More to come…