Oaktree Strategic Credit Fund Holds $0.16 Payout as September NAV Slips to $22.24

Leverage stood at about 0.62 times at quarter end, with roughly $2.7 billion of debt carried against $4.2 billion of net assets.

October 27, 2026

Oaktree Strategic Credit Fund's net asset value per share edged down to $22.24 as of September 30, 2026, from $22.32 at the end of August, while its board kept the gross monthly distribution at $0.16 per share for October.

The September 30 NAV, determined on October 23 under the fund's valuation policy, is the same across all four share classes. Aggregate net assets were approximately $4.2 billion at quarter end. The non-traded business development company held an investment portfolio with a fair value of about $6.9 billion and had approximately $2.7 billion in principal amount of debt outstanding, putting its net debt-to-equity ratio at about 0.62 times.

At the end of February, the fund reported aggregate NAV of approximately $4.7 billion, a portfolio of roughly $7.3 billion and leverage of about 0.57 times.

September 30 is also the valuation date for the fund's third-quarter tender offer, which closed September 11 with roughly 7.2 million shares tendered against a cap of 9,580,537 shares.

October Distribution

The board declared the distribution on October 23. It is payable to shareholders of record as of October 28 and will be paid on or about November 25, in cash or, for participants in the distribution reinvestment plan, in additional shares. The $0.16 gross amount matches the level set with the March declaration, which reduced the monthly payout from $0.18.

Net amounts per share after shareholder servicing and distribution fees:

• Class I: $0.16
• Class D: $0.1554
• Class S: $0.1442
• Class T: $0.1442

Offering Activity

The fund continues to offer up to $5.0 billion of shares publicly on a continuous basis. As of the report date, it had issued the following in that offering:

• Class I: 144,587,901 shares for $3,378.6 million
• Class S: 61,330,113 shares for $1,437.5 million
• Class D: 402,799 shares for $9.3 million
• Class T: 325,844 shares for $7.4 million

A separate private offering of unregistered Class I shares, made under Section 4(a)(2) and Regulation S, had issued 22,535,823 shares for $537.6 million. The fund intends to keep selling shares in both offerings monthly and to post its month-end NAV per share on its website within 20 business days of each month end.