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Oaktree Specialty Lending Corporation (OCSL) Q2 2025 Earnings Call
Oaktree Specialty Lending Corporation (NASDAQ: OCSL) Q2 2025 earnings conference call, held 2025-05-01. Replay captured from the company's public earnings webcast.
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Clark Corey
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Paul Johnson
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Replay transcript excerpt
WEBVTT 00:00:00.031 -- 00:00:05.720 leverage a little bit higher there. You know, they invest mostly in BSL, 00:00:05.720 -- 00:00:09.165 so those are, you know, it's relatively 00:00:09.165 -- 00:00:13.332 more easy to deploy there than in some of the private assets that the sales cycle is 00:00:13.332 -- 00:00:17.776 a little bit longer. So that's just the other point I'd make. 00:00:17.859 -- 00:00:23.728 Sure. And, I mean, to that point on leverage and then deploying within the 00:00:23.728 -- 00:00:25.988 joint ventures, 00:00:26.532 -- 00:00:31.406 you know, I mean, obviously, This quarter seems 00:00:31.406 -- 00:00:35.451 very, very different from even the March quarter. 00:00:35.451 -- 00:00:40.619 When we look at sort of the repayment levels that you've seen in the portfolio 00:00:40.619 -- 00:00:45.265 and exits, repayments and exits over the last three quarters, they've been pretty sizable. 00:00:45.265 -- 00:00:51.473 Should we be expecting any slowing of repayment activity 00:00:51.473 -- 00:00:56.620 during this period of volatility, or would you expect that to remain 00:00:56.620 -- 00:00:59.341 pretty elevated? 00:00:59.684 -- 00:01:02.028 Melissa, this is Armand. I could take a crack at that. 00:01:02.028 -- 00:01:05.312 So, a couple things. 00:01:05.312 -- 00:01:07.916 In terms of liquid credit, 00:01:07.916 -- 00:01:12.964 in the back half of last year, especially the fourth quarter, as the markets 00:01:12.964 -- 00:01:16.750 were pretty tight, we actually 00:01:16.750 -- 00:01:21.777 were just generally a net seller of liquid credit, and so we actually delevered the 00:01:21.777 -- 00:01:25.480 JVs as a result of that. 00:01:25.520 -- 00:01:31.526 I think given the volatility in the last four to six weeks in the public markets 00:01:31.526 -- 00...