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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) has appointed Jonathan Lamm as its new Chief Financial Officer and Chief Operating Officer, effective September 1, 2021. Lamm, previously CFO and Treasurer at Goldman Sachs BDC, Inc., brings extensive experience in finance and operations. Former CFO Alan Kirshenbaum will continue as Executive Vice President. This leadership change aims to strengthen ORCC's operational and financial framework as it manages an investment portfolio valued at $11.2 billion across 120 companies.
Owl Rock Capital Corporation (ORCC) will release its financial results for the second quarter ending June 30, 2021, on August 4, 2021, after market close. A webcast and conference call for investors is scheduled for August 5, 2021, at 10:00 a.m. Eastern Time. ORCC, a specialty finance company focused on U.S. middle-market lending, had investments valued at $11.2 billion as of March 31, 2021. The firm has approximately $27.8 billion in assets under management and is managed by Owl Rock Capital Advisors LLC.
Owl Rock Capital Corporation (NYSE: ORCC) has announced the pricing of a public offering of $450 million in 2.875% notes due June 11, 2028. The notes can be redeemed at ORCC's option at any time. The offering, managed by multiple securities firms, is expected to close on June 11, 2021. Proceeds will be used to reduce existing debt obligations, including a Revolving Credit Facility and an SPV Asset Facility. As of March 31, 2021, ORCC had investments valued at $11.2 billion in 120 companies.
Owl Rock Capital and Dyal Capital Partners have completed their business combination to form Blue Owl Capital Inc., effective May 20, 2021. The transition has been approved by the boards of the affected business development companies (BDCs). Craig Packer, CEO, emphasized that the investment team's strategy and focus will remain unchanged, aiming for attractive returns for shareholders. The BDCs, including Owl Rock Capital Corporation (NYSE: ORCC), will continue to operate under the same advisory agreements. Blue Owl will begin trading under the ticker OWL.
Owl Rock Capital Corporation (NYSE: ORCC) reported a net investment income of $102.7 million ($0.26 per share) and net income of $157.8 million ($0.40 per share) for Q1 2021. The net asset value per share rose to $14.82, up from $14.74 in Q4 2020. New investment commitments totaled $863.5 million across 8 new and 11 existing portfolio companies. The company declared a second quarter dividend of $0.31 per share, payable by August 13, 2021. Despite a significant increase in total expenses to $117.8 million, investment income grew to $221.6 million, primarily from increased dividend income.
Owl Rock Capital Corporation (NYSE: ORCC) will release its first quarter financial results for the period ended March 31, 2021, on May 5, 2021, after market close. A webcast conference call is scheduled for May 6, 2021, at 10:00 a.m. Eastern Time for discussion of these results. As of December 31, 2020, ORCC held investments in 119 portfolio companies with an aggregate fair value of $10.8 billion. The firm is focused on lending to U.S. middle-market companies and is managed by Owl Rock Capital Advisors LLC.
Owl Rock Capital has gained shareholder approval for new investment advisory agreements related to its merger with Dyal Capital Partners. Voting results highlighted strong support, with Owl Rock Capital Corporation (NYSE: ORCC) receiving 98% approval. Other BDCs also showed favorable results, with percentages ranging from 94% to 100%. These agreements are necessary due to an indirect change in control following the merger and will only take effect once the transaction closes in Q2 2021. Owl Rock manages approximately $27.1 billion in assets, focusing on providing substantial investments for growth.
Owl Rock Capital has appointed Melissa Weiler to its boards of directors for its BDCs, including Owl Rock Capital Corporation (NYSE: ORCC). This expansion increases the board to eight directors, with five being independent. Weiler, formerly with Crescent Capital Group, brings extensive experience in credit fund management and will serve on several committees, enhancing the company's governance. Co-founder Douglas Ostrover expressed confidence in her ability to contribute positively to the firm's strategic goals and investor returns.
Owl Rock Capital Corporation (NYSE: ORCC) reported a net investment income of $114.6 million ($0.29 per share) and a net income of $180.7 million ($0.46 per share) for Q4 2020. Net asset value per share rose to $14.74. Total investment commitments for 2020 were $3.44 billion, down from $4.43 billion in 2019. New investments funded amounted to $2.85 billion. The company declared a first-quarter 2021 dividend of $0.31 per share. The portfolio consists predominantly of senior secured debt, with 99.9% at floating rates.
Owl Rock Capital Corporation (ORCC) plans to release its financial results for the fourth quarter and fiscal year ending December 31, 2020, on February 23, 2021, after market close. A conference call will be held on February 24, 2021, at 10:00 a.m. ET to discuss these results. As of September 30, 2020, ORCC's investments in 110 portfolio companies had an aggregate fair value of $9.9 billion. The company is externally managed by Owl Rock Capital Advisors LLC and is regulated as a business development company under the Investment Company Act of 1940.
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