SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

Class A Unit Distributions

A distribution of $0.72 per Class A unit was paid on May 10, 2023 to holders of record at the close of business on May 1, 2023.

Preferred Unit Distributions

A distribution of $0.414063 per Series A preferred unit will be paid on June 15, 2023 to Series A preferred unitholders of record at the close of business on June 1, 2023.

A distribution of $0.409375 per Series B preferred unit will be paid on June 15, 2023 to Series B preferred unitholders of record at the close of business on June 1, 2023.

Amendments to Note and Guaranty Agreements

On April 7, 2023, OCM, Oaktree Capital II, Oaktree AIF, Oaktree Capital I and OCM Cayman (collectively, the “Obligors”) entered into amendments to each of the note and guaranty agreements for each series of outstanding senior notes issued by OCM and Oaktree Capital I. Pursuant to these amendments, OCM Cayman became a guarantor of each such series of senior notes. These amendments also amended certain provisions in these note and guaranty agreements, including financial definitions, in order to facilitate the joinder of OCM Cayman as an obligor. Additionally, the amendments for the note purchase agreements executed in 2014 and 2020 amended the assets under management covenants to clarify the treatment of entities that the Obligors account for using equity method accounting. Upon the effectiveness of these amendments, pursuant to a joinder agreement executed by OCM Cayman as part of the Seventh Amendment to the $650 million revolving credit facility, OCM Cayman became a co-Borrower under the credit facility with OCM, Oaktree Capital II, Oaktree AIF and Oaktree Capital I.