Welcome to our dedicated page for ORCC news (Ticker: ORCC), a resource for investors and traders seeking the latest updates and insights on ORCC stock.
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 second quarter financial results for the period ending June 30, 2022, on August 3, 2022, after market closure. A conference call is scheduled for August 4, 2022, at 10:00 a.m. ET to discuss these results. As of March 31, 2022, ORCC had investments in 157 portfolio companies with a fair value of $12.8 billion. The company has opted to be regulated as a business development company under the Investment Company Act of 1940.
On June 28, 2022, Wingspire Capital announced its agreement to acquire Liberty Commercial Finance. This acquisition will enhance Wingspire's equipment finance solutions, expanding its reach in the middle market. Liberty has a proven track record, having originated over $1.3 billion in equipment financing since 2017, and will contribute a strong origination platform. The deal is expected to close on June 30, 2022. The integration aims to create a premier financing platform, aligning the company cultures of both organizations.
Owl Rock Capital Corporation (NYSE: ORCC) reported a net investment income of $122.4 million ($0.31 per share) and a net income of $44.0 million ($0.11 per share) for Q1 2022. The net asset value per share decreased to $14.88 from $15.08 at year-end 2021. New investment commitments totaled $530.4 million, significantly lower than $1,589.2 million in Q4 2021. The company declared a dividend of $0.31 per share for Q2 2022, with 98.8% of debt investments at floating rates, positioning for potential gains amid rising interest rates.
Owl Rock Capital Corporation (ORCC) will release its Q1 2022 financial results on May 4, 2022, after market close. A conference call is scheduled for May 5, 2022, at 10:00 a.m. ET for discussion of these results. ORCC, a specialty finance company, managed a portfolio with an aggregate fair value of $12.7 billion as of December 31, 2021. It emphasizes lending to U.S. middle-market companies and is regulated as a business development company under the Investment Company Act of 1940.
Owl Rock Capital Corporation (ORCC) announced impressive fourth-quarter results for 2021, reporting net investment income of $137.9 million ($0.35 per share) and net income of $174.0 million ($0.44 per share). The net asset value per share rose to $15.08 from $14.95 in Q3 2021. The company declared a $0.31 dividend for Q1 2022, payable by May 13, 2022. In 2021, ORCC's investment commitments soared to $6.82 billion, up from $3.44 billion in 2020. Despite a strong performance, total expenses dramatically increased to $527.3 million from $283.8 million, largely due to rising interest and management fees.
Owl Rock Capital Corporation (NYSE: ORCC) will release its fourth-quarter and fiscal year results for the period ending December 31, 2021, on February 23, 2022, post-market close. A conference call is scheduled for February 24, 2022, at 10:00 a.m. ET to discuss these results. As of September 30, 2021, ORCC had investments with a fair value of $12.1 billion across 130 portfolio companies and manages approximately $34.6 billion in assets. Investors are advised to exercise caution as statements made are forward-looking and subject to risks.
Owl Rock, a division of Blue Owl Capital (NYSE: OWL), has appointed Victor Woolridge to the boards of its business development companies, including Owl Rock Capital Corporation (NYSE: ORCC). This appointment increases the board size for five BDCs to seven directors and for two BDCs to eight directors, with a majority being independent members. Woolridge, who has extensive experience in capital markets, will serve on key committees including the Nominating and Corporate Governance and Audit Committees for all boards. Owl Rock manages approximately $34.6 billion in assets.
Owl Rock Capital Corporation (NYSE: ORCC) reported a strong third quarter for 2021, with net investment income reaching $130.5 million ($0.33 per share) and net income of $142.9 million ($0.36 per share). The net asset value per share rose to $14.95 from $14.90 in the prior quarter. The Company experienced record originations and repayments, totaling $2.8 billion in new investments. A fourth quarter dividend of $0.31 per share has been declared. The portfolio remains robust, with 99.9% of debt investments at floating rates and a strong yield of 7.9%.
Owl Rock Capital Corporation (NYSE: ORCC) will release its third quarter financial results for the period ending September 30, 2021, on November 3, 2021, after market close. A conference call will be held on November 4, 2021, at 10:00 a.m. ET to discuss the results. ORCC had investments in 129 portfolio companies valued at $11.9 billion as of June 30, 2021. The company manages approximately $31.2 billion in assets as part of Blue Owl Capital. Forward-looking statements in the PR caution investors about risks and uncertainties affecting future performance.
Owl Rock Capital Corporation (NYSE: ORCC) reported a net investment income of $119.1 million, or $0.30 per share, for Q2 2021. Total investment income rose to $249.0 million, driven by growth in the portfolio and increased dividend income. New investment commitments reached $1,578.1 million across 16 new companies. The net asset value per share increased to $14.90 from $14.82 in Q1 2021. A quarterly dividend of $0.31 per share was declared for Q3 2021, payable by November 15, 2021.
FAQ
What is the market cap of ORCC (ORCC)?
What does Owl Rock Capital Corporation do?
Where is ORCC headquartered?
What recent changes has ORCC announced?
Who manages ORCC?
How many portfolio companies does ORCC have?
What type of company is ORCC regulated as?
What makes ORCC unique in the financial technology space?
Which major awards has ORCC won?
What is the connection between ORCC and Blue Owl Capital Inc.?
How can investors contact ORCC?
