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Owl Rock Capital Corporation (ORCC) is a leading specialty finance company that focuses on lending to U.S. middle-market companies. Established in 1989, the company has consistently driven innovation in the financial services sector. ORCC operates through its proprietary payments gateway, which connects banks directly with billers, providing state-of-the-art web and phone-based financial services, electronic payments, and marketing services to foster consumer adoption.
ORCC is the largest financial technology provider dedicated to the online channel, working with 17 of the top 50 U.S. banks and 6 of the top 12 U.S. card issuers. The company's headquarters are in Chantilly, VA, with additional regional offices in Parsippany and Princeton, NJ, Woodland Hills and Pleasanton, CA, and Columbus, OH.
In a significant move, ORCC announced on June 22, 2023, that it will undergo a rebranding initiative effective July 6, 2023, changing its name, ticker, and website. Managed by an investment adviser that is an affiliate of Blue Owl Capital Inc. (NYSE: OWL), the company's day-to-day operations will remain the same, but the rebranding aligns it under the Blue Owl brand.
As of March 31, 2023, ORCC had investments in 187 portfolio companies with an aggregate fair value of $13.2 billion. The company is regulated as a business development company under the Investment Company Act of 1940 and is externally managed by Owl Rock Capital Advisors LLC, an SEC-registered investment adviser.
ORCC has been recognized for its high growth and product innovation, earning awards such as the Online Banking Report Innovation of the Year Award, Deloitte & Touch Fast 500, and Fortune Small Business 100. The company continues to be a significant player in the financial markets, offering robust solutions that enhance the efficiency and scope of financial interactions for millions of consumers and financial institutions.
Owl Rock Capital Corporation (NYSE: ORCC) will release its financial results for Q1 2023 on May 10, 2023, after market close. A conference call is scheduled for May 11, 2023, at 10:30 a.m. ET to discuss these results. As of December 31, 2022, ORCC had investments in 184 companies, with an aggregate fair value of $13.0 billion, and is externally managed by Owl Rock Capital Advisors LLC, part of Blue Owl Capital (NYSE: OWL), which manages approximately $68.6 billion in assets.
Investors should note that forward-looking statements contained in the announcement carry risks and uncertainties that may affect actual results. For further details, interested parties can join the live webcast on ORCC's website.
Owl Rock Capital Corporation (NYSE: ORCC) reported strong financial results for the full year and fourth quarter ending December 31, 2022. The fourth quarter net investment income (NII) was $0.41 per share, surpassing the dividend of $0.33 per share, leading to a total dividend of $0.37 per share. The net asset value (NAV) per share increased to $14.99. New investment commitments for 2022 were $1.77 billion, a significant decrease from $6.82 billion in 2021. Investment income rose to $1.2 billion for the year, primarily due to higher portfolio yields. Total expenses also increased to $639.5 million, driven by higher interest expenses.
Owl Rock Capital Corporation (NYSE: ORCC) plans to release its financial results for Q4 and the fiscal year ending December 31, 2022, on February 22, 2023, after market close. A conference call will follow on February 23, 2023, at 10:00 a.m. ET, to discuss these results. As of September 30, 2022, ORCC had investments in 180 companies with a fair value of $12.8 billion. The company is a specialty finance firm focusing on U.S. middle-market lending and is managed by Owl Rock Capital Advisors LLC, an affiliate of Blue Owl Capital.
Owl Rock Capital Corporation (NYSE: ORCC) reported a strong third quarter for 2022 with net investment income of $146.8 million ($0.37 per share) and net income of $265.4 million ($0.67 per share), reflecting a solid performance in a challenging market. The company's net asset value rose to $14.85 per share, up 2.5% from the previous quarter. A quarterly dividend of $0.33 per share has been declared for Q4 2022, alongside a supplemental $0.03 per share dividend. Additionally, a $150 million stock repurchase program was approved to enhance shareholder value, with expectations for improved earnings next quarter.
Owl Rock Capital Corporation (NYSE: ORCC) will release its third quarter financial results for the period ending September 30, 2022, on November 2, 2022, after market close. A conference call to discuss these results is scheduled for November 3, 2022, at 10:00 a.m. Eastern Time. As of June 30, 2022, ORCC held investments in 168 portfolio companies valued at $12.6 billion, managed by Owl Rock Capital Advisors LLC, part of Blue Owl Capital Inc. Investors should note that forward-looking statements in the PR involve risks and uncertainties.
Owl Rock Capital Corporation (NYSE: ORCC) reported a net investment income of $125.1 million or $0.32 per share for Q2 2022, but also faced a net loss of $34.9 million or $(0.09) per share. The net asset value per share decreased to $14.48 from $14.88 in Q1 2022. The company announced a $0.31 per share dividend for Q3 2022, with new investment commitments rising to $603.4 million across 16 new portfolio companies. Despite strong portfolio performance, 1 company is on non-accrual status, and total expenses rose to $146.6 million, driven by interest and management fees.
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