and hello, Matt, Thanks, everyone.
job the economy I'll begin with The environment. calendar quarter, a market. supported market on in comments by grew third strong the U.S.
which further, floating on of private were exposed leveraged burdened we slowing become many earnings remain conditions especially following those cost rates the a as Fed's due particularly at see we companies, over raise loans, interest arise time leveraged and rate tail This that These past risks evident believe to with X is to where debt, high heavily particularly increasingly have the examine expensive the years.
When campaign or rates debt zero. presence loans higher However, when aggressive those rates markets interest outstanding near that borrowed this investors to more the borrowers interest vulnerable with struggle risks. increasingly to credit macro are are expensive we growth. broader in service
interest they As structures now rate environment. capital be today's that a result, higher-for-longer have in may unsustainable
loan of Not calendar the have debt also only of private markets or has is crisis By the sevenfold, the these prior third these quarter, loans syndicated proportion and credit leveraged of U.S. to amount substantial. twofold the end to increased. the markets almost grown compared represented lower debt ratings XX% of roughly the financial B and represented crisis. loans XXXX, has in but broadly of respectively, credit quality global XX% Importantly, below U.S. the by since financial market roughly of of
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on that we which through what optimistic us At gained ahead cycles, opportunities, we navigated experience why is Oaktree, economic as might valuable allowed are OCSL. have to has many for capitalize be we've about
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pursuing We across continue to attractive opportunities and backed the investing arise. methodically markets, they as sponsor expect nonsponsor both selectively
Now turning companies. was across portfolio well the At the value at at to the fourth of billion XXX quarter, end fair diversified our $X.X overall portfolio.
was portfolio more first representing larger, of continue XX invested capital in leverage The to million steady loans, XX-month was focus the contain fair secured risk. $XXX portfolio middle investing and was the senior X.Xx. performance well companies Median of favoring to portfolio's value. of We lien top portfolio XX% company the market EBITDA the approximately of as on diversified average businesses at in on leverage loans XX% overall was trailing with our weighted at at coverage levels. steady below Xx, based interest at portfolio September structure,
we across million investment new and X of X quarter, commitments originated $XX companies. In existing the portfolio September new
were originations to and add-on services company. lien, recycling million an $XX including these waste managed of first All Keter, end-to-end a commitment
I and software of companies, We spend to the wanted now prominent also security approach a moments application delve committed of total XX.X% company. software $XX million which our Finastra, to global provider across into sector, a to software lending X to Forcepoint, our represents financial investments. a few network
significant to their enterprise on deliver focus to software solutions mission-critical we large value lending customers. added businesses First, that with
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domain the and sponsors generally Third, market we in clear prevalent sector. aggressively have private of a with the in more experience select have deliberately the we XXXX in steered of that group significant finally, priced And equity transactions XXXX. partner
experienced proposition most we believe these that an favorable. investor wasn't this As in deals space, risk/reward of the in
passed we evaluated on As September software from the XXXX. September all through a result, transactions XXXX of we
is new the we origination As our steady. fiscal year, begin activity
calendar of a have pipeline we prior year-end. will fund that We strong opportunities anticipate to
developments quality. positive resolution which was the X.X% the experienced attributable value, our fair cost improvements in of largely fourth were to to fully which Athenex, Turning during and successful nonaccruals, of at We've respectively. the and repaid to quarter. X.X% portfolio declined credit These
in earlier company prescription key unable drug. nonaccrual to placed the As this secure recall, of year our in you investment a approval was we it after on may
a IRR a position, which it of We fees used proceeds pay about company repayment plus secure to par to sold have and strong with what off as OCSL, loan protection to in resulting us and and at realized accrued interest the the senior structured owed assets downside XX%. allowed held the
allowed August. SiOX in restructured first on investment, Another our the bankruptcy back We status. from lien place emerged portfolio loan company, to which accrual term us
status nonaccrual Intermodal prior Group, and debt. the Oaktree logistics to solutions investment financing new made infrastructure investment, This onset a add in quarter. January involved the existing pandemic did of of integrated industry. the we oil However, to which a to refinance from just in the provider COVID Continental gas and the to XXXX was
years, the value evolving its the original repaid September company been to on in related structural natural roughly million the because funded amount OCSL as had oil in loan, Over exploration. has position to the past faced of of date, of has Nevertheless, challenges few protections fair and XXXX. gas XX, our $XX of and landscape XX%
And these our options, on that at shape. is place we to and give it our In time.
It us the exploring was felt tremendous our overall is position, experience in company note in to extensive liquidity robust of succeed the are this prudent resources with with and behalf leveraging confidence it years portfolio we to of the ahead. successful shareholders. to status solid nonaccruals, achieve in Oaktree's is outcomes important of each nonaccrual on capital While short, workouts ability Oaktree, our coupled
detail. financial more turn Now to our I to call the will discuss Chris over results in
