Updated:
Oxford Square Capital Corp.
Jonathan Cohen runs Oxford Square Capital Corp., a publicly traded BDC combining CLO equity, syndicated loans, and direct lending since 2003.
Oxford Square Capital Corp.
Oxford Square Capital Corp., originally founded as TICC Capital Corp. in 2003 and rebranded in 2018, operates as a publicly traded business development company. Jonathan H. Cohen has served as CEO since inception, with Saul B. Rosenthal as President. The firm is externally managed by Oxford Square Management, LLC, an affiliate under Cohen's control. Unlike privately held family offices or closed-end funds, Oxford Square's public listing on NASDAQ forces a level of transparency and liquidity uncommon in middle-market credit. The firm's strategy spans three distinct credit verticals. Its legacy portfolio consists of CLO equity positions, where Oxford Square holds residual interests in structured credit vehicles — a high-yield, high-volatility sleeve. The second vertical covers broadly syndicated loans and high-yield bonds, providing a base of floating-rate income. The third, and increasingly central, vertical is direct lending to middle-market companies, typically in technology and healthcare. Confirmed positions have included investments in enterprise software platforms, cybersecurity firms, and healthcare service providers. The geographic footprint concentrates on North America, though certain syndicated exposures reach European issuers. Oxford Square participates both as a direct lender and through secondary purchases of existing credit positions. The firm's scale is transparent by design — quarterly SEC filings disclose portfolio composition, leverage ratios, and net asset value, though total assets under management fluctuate with CLO market valuations and capital return decisions. In December 2023, Oxford Square declared a monthly distribution of $0.035 per share, maintaining a consistent payout policy that dates back years (per the firm's official communications, December 2023). The management team operates from Greenwich, Connecticut, and draws on Cohen's network built across two decades of credit-market cycles. Oxford Square does not maintain a parallel philanthropic foundation or affiliated operating businesses. Oxford Square's structural differentiator is its public-market wrapper. Most middle-market direct lenders — Antares, Owl Rock, Golub — raise private funds with five-to-seven-year lockups. Oxford Square offers daily liquidity through its NASDAQ listing, a trade-off that constrains leverage but opens the strategy to a broader investor base. This public-company architecture also subjects the firm to SEC regulation and public disclosure, creating a paper trail for allocators researching positions, fees, and performance attribution that private credit funds rarely provide.
General information
Firm type
Asset Manager
Year founded
2003
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Greenwich
Corporate office
Greenwich, CT, United States
Principals
Jonathan H. Cohen
Chief Executive Officer
Saul B. Rosenthal
President
Sector focus
Frequently asked questions
Who manages Oxford Square Capital Corp.?
Jonathan H. Cohen has been CEO since the firm's inception in 2003. Saul B. Rosenthal serves as President. The company is externally managed by Oxford Square Management, LLC, which is controlled by Cohen. This external management structure means the investment adviser is a separate entity compensated through a management and incentive fee agreement, a common arrangement for BDCs that allocators should evaluate for fee alignment.
How does Oxford Square's public listing change the due diligence process?
As a NASDAQ-listed BDC, Oxford Square files 10-Ks, 10-Qs, and proxy statements with the SEC. Allocators gain access to audited financials, quarterly portfolio snapshots with issuer names and fair values, and detailed fee disclosure without signing an NDA. This transparency is a genuine differentiator from private credit funds, where limited partners often see only quarterly capital account statements with masked position-level detail.
What is the composition of Oxford Square's investment portfolio?
The portfolio breaks into three buckets: CLO equity positions generating high current income with price sensitivity to credit cycles; broadly syndicated loans and high-yield bonds offering floating-rate exposure; and direct middle-market loans, typically senior secured, to companies in technology, software, and healthcare services. The mix shifts over time — recent filings show a growing emphasis on direct lending alongside legacy CLO residual interests.
Does Oxford Square participate in co-investments alongside other lenders?
Yes. In its direct-lending vertical, Oxford Square often participates in club deals and syndications alongside other BDCs, private credit funds, and bank-led facilities. This is standard practice for middle-market lenders seeking diversification. Specific co-lenders are identifiable in SEC filings when Oxford Square holds minority positions in larger credit facilities, though the firm does not publicly market a formal co-investment consortium.
What asset classes does Oxford Square avoid?
Oxford Square does not invest in equity, venture capital, real estate, commodities, or infrastructure. The mandate is strictly credit — loans, bonds, and structured credit vehicles. Even within credit, the firm maintains a North American focus and avoids distressed-for-control situations, instead targeting performing middle-market companies with established cash flows.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: