Core Viewpoint - FS Specialty Lending Fund announced a monthly distribution of $0.1375 per share for January 2026, with an annualized distribution yield of 9.1% based on net asset value and 11.7% based on market price as of December 31, 2025 [1][2]. Fund Overview - The Fund has approximately $1.9 billion in assets under management and focuses on event-driven credit, special situations, private capital solutions, and other non-traditional credit opportunities [2]. - The distribution schedule includes an ex-date and record date of January 23, 2026, with payment on January 30, 2026 [2]. Distribution Details - The Fund pays regular monthly cash distributions to common shareholders, which may be adjusted based on portfolio and market conditions [2]. - The current distribution rate reflects the Fund's strategy and market performance [2]. Company Background - Future Standard, the asset manager of the Fund, has over 30 years of experience and manages $86 billion in assets, focusing on private equity, credit, and real estate investments [5].

Group 1 - The article does not provide any specific content related to a company or industry [1]

Financial Data and Key Metrics Changes - Adjusted net investment income for Q4 2025 was $35.4 million or $0.40 per share, up from $32.5 million or $0.37 per share in the prior quarter, reflecting a return to normalized prepayment fees and lower interest expenses [4][18] - NAV per share decreased to $16.64 from $16.76 in the previous quarter due to unrealized depreciation on certain investments [18] - Adjusted total investment income increased to $76.9 million compared to $74.3 million in the third quarter, driven by higher prepayment fees and dividend income [18] Business Line Data and Key Metrics Changes - New-funded investment commitments amounted to $220 million, up 54% from the prior quarter, with first-lien loans representing 88% of new originations [11] - The weighted average yield on debt investments was 9.8%, with a median EBITDA of portfolio companies at approximately $150 million, reflecting a slight decrease from the prior quarter [13] Market Data and Key Metrics Changes - Private credit deal flows showed modest improvement, although the quality of deals was mixed, with a steady supply of high-quality opportunities alongside lower-quality deals [8] - The tightening of private credit spreads was noted, with spreads bottoming out at SOFR plus 450, indicating a cautious optimism in the market [9] Company Strategy and Development Direction - The company aims to prudently increase balance sheet leverage to enhance earnings power and deploy capital into interesting investment opportunities, maintaining a conservative leverage ratio of 0.97 times [6] - Focus on reducing non-accruals and optimizing joint ventures to improve earnings power and support net investment income [6] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious optimism regarding the long-term outlook on private credit, emphasizing the value of speed and assurance in deal execution for issuers [9] - The company does not expect outsized repayments for the December quarter and anticipates a deployment level consistent with past quarters [24] Other Important Information - The company has ample liquidity of approximately $695 million, including $80 million in cash and $615 million in undrawn capacity on its credit facility [20] - The joint ventures currently hold $513 million of investments, generating ROEs of 12.4% in aggregate during the fourth quarter [20] Q&A Session Summary Question: Expectations around investment activity in the December quarter - Management does not expect any outsized repayments and anticipates deployment levels to be consistent with past December quarters [24] Question: Yield on new investments and pipeline for complex transactions - The yield on new investments was higher due to the complexity of the Walgreens deal, but management does not foresee similar high-spread loans in the upcoming quarter [25][27] Question: Non-accruals in healthcare and pharma segments - Management noted that there are a few larger positions in life sciences that continue to be subject to workouts, with stable to slightly improving conditions [30][32]

Company Overview - TSLX is a specialty lending company focused on providing financing solutions to US-based middle-market companies with target EBITDA between $10 million and $250 million [8, 10] - The company's market capitalization is $35 billion, with a net asset value (NAV) per share of $1714 [8] - The investment portfolio is diversified across 108 portfolio companies, with an average investment size of $303 million [10] Portfolio Composition and Strategy - The portfolio is primarily composed of secured debt investments, with 901% secured and 892% first-lien debt [10] - A significant portion of the debt investments, 963%, are floating rate [10] - The company focuses on direct, primary originations sourced through coverage of companies, financial sponsors, and intermediaries, with approximately 99% of originations from non-intermediated channels [10] Financial Performance - The annualized Return on Equity (ROE) from Net Investment Income for Q3 2025 was 125%, while the annualized ROE from Net Income was 110% [10] - As of September 30, 2025, the company had approximately $1047 million of undrawn capacity on its revolving credit facility [10] - New investment commitments for Q3 2025 totaled $3877 million, and net funding activity was $490 million [12, 21] Liquidity and Capital Management - The company maintains a strong liquidity position, with total liquidity of $11 billion, exceeding unfunded investment commitments by 64x [42] - Approximately 82% of assets are funded by unsecured debt and equity [42] - The weighted average remaining time to maturity of debt is approximately 37 years [10, 42]

Core Points - Sixth Street Specialty Lending, Inc. reported its third quarter earnings results for the period ended September 30, 2025, and declared a fourth quarter base dividend of $0.46 per share, along with a supplemental dividend of $0.03 per share for the third quarter [5][6] - The company appointed Robert ("Bo") Stanley as Co-Chief Executive Officer, effective November 4, 2025, alongside existing CEO Joshua Easterly, who will remain in the role until December 31, 2025, after which Stanley will become the sole CEO [3] Financial Results - The financial results for the third quarter ended September 30, 2025, will be released on November 4, 2025, after market close, followed by a conference call on November 5, 2025, at 8:30 a.m. Eastern Time to discuss these results [5][6] Leadership Changes - Robert Stanley's appointment as Co-CEO marks a significant leadership transition within the company, indicating a strategic move towards future growth and management continuity [3]

Core Viewpoint - The equity market serves as a significant mechanism for wealth creation or destruction over the long term, with Pacifica Yield focusing on undervalued high-growth companies, high-dividend stocks, REITs, and green energy firms [1] Group 1 - Pacifica Yield aims to pursue long-term wealth creation [1] - The strategy includes a focus on undervalued yet high-growth companies [1] - High-dividend tickers, REITs, and green energy firms are also key areas of interest [1]

Core Viewpoint - Oaktree Specialty Lending (OCSL) has faced significant selling pressure, resulting in a 9.3% decline over the past four weeks, but analysts anticipate better earnings than previously expected, indicating a potential turnaround for the stock [1]. Technical Analysis - The Relative Strength Index (RSI) is utilized to determine if OCSL is oversold, with a current reading of 28.65 suggesting that selling pressure may be exhausting, potentially leading to a price rebound [2][5]. - RSI serves as a momentum oscillator that measures price movement speed and change, oscillating between zero and 100, with readings below 30 indicating oversold conditions [2][3]. Fundamental Indicators - There is a consensus among sell-side analysts that earnings estimates for OCSL have increased by 0.3% over the last 30 days, which typically correlates with price appreciation in the near term [7]. - OCSL holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the stock's potential for a turnaround [8].

Core Viewpoint - Sixth Street Specialty Lending, Inc. (TSLX) is set to release its financial results for the third quarter ended September 30, 2025, on November 4, 2025, after market close [1] Financial Results Announcement - The financial results will be discussed in a webcast/conference call scheduled for November 5, 2025, at 8:30 a.m. Eastern Time [1]

Core Viewpoint - Oaktree Specialty Lending (NASDAQ: OCSL) experienced a significant decline in net investment income due to a shrinking investment portfolio in the third quarter, leading to serious coverage issues [1] Financial Performance - The company reported a considerable decrease in net investment income, indicating potential challenges in maintaining profitability [1] - The decline in investment income is attributed to a reduction in the size of the investment portfolio [1] Coverage Issues - Oaktree Specialty Lending is facing serious coverage issues as a result of the decline in net investment income, which may impact its ability to meet financial obligations [1]

References in this presentation ("Presentation") to "TSLX," "we," "us," "our" and "the Company" refer to Sixth Street Specialty Lending, Inc. EARNINGS PRESENTATION Quarter Ended June 30, 2025 This Presentation includes forward-looking statements about TSLX that involve substantial risks and uncertainties. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about us, our current and prospective portfolio investments, our industry, ...