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Blue Owl Capital Inc. (NYSE: OWL) is a leading global alternative asset manager that specializes in deploying private capital across three key platforms: Credit, GP Strategic Capital, and Real Estate. As of December 31, 2023, Blue Owl manages over $165 billion in assets, showcasing a robust growth trajectory. Anchored by a solid permanent capital base, the firm offers tailored capital solutions to businesses driving long-term growth.
Blue Owl operates through two principal entities: Blue Owl Capital Holdings LP and Blue Owl Capital Carry LP. The firm caters to a diverse investor base, including institutional investors such as public and private pension funds, endowments, foundations, family offices, private banks, high-net-worth individuals, asset managers, and insurance companies. Its operations are predominantly based in the United States, generating substantial revenue from these activities.
The company's seasoned management team, with over 25 years of experience in alternative investments, leads a workforce of more than 685 professionals across 10 global offices. This expertise is reflected in Blue Owl's strategic acquisitions and partnerships, such as the recent acquisition of Prima Capital Advisors for $170 million, expanding its Real Estate Finance strategy. Furthermore, the addition of industry veteran Jesse Hom as Chief Investment Officer for Blue Owl's Real Estate platform underscores the firm's commitment to exceptional leadership and strategic growth.
Blue Owl's innovative approach is evident in its GP Strategic Capital platform, which recently partnered with Lunate Capital to provide minority equity and financing solutions to private capital managers. This initiative supports the ongoing growth of Linden Capital Partners' healthcare investment platform, further diversifying Blue Owl's portfolio.
The firm continuously seeks to enhance its offerings, as demonstrated by the recent issuance of $750 million of 6.250% Senior Notes due 2034 to fund strategic acquisitions and growth initiatives. This financial strategy underscores Blue Owl’s commitment to maintaining a strong capital base while pursuing sustainable growth.
In summary, Blue Owl Capital Inc. stands out as a premier asset manager, offering innovative capital solutions and delivering strong, risk-adjusted returns to its institutional and individual investors. With its global presence, seasoned leadership, and diversified investment strategies, Blue Owl is well-positioned to continue redefining alternative asset management.
For more information, visit www.blueowl.com.
Blue Owl Capital Inc. (NYSE: OWL), a leading alternative asset manager, has completed its acquisition of Atalaya Capital Management LP's business. The acquisition, initially announced in July 2024, significantly expands Blue Owl's alternative credit presence and enhances its market-leading position in direct lending. Atalaya, an alternative credit manager, focuses on asset-based credit investments across consumer and commercial finance, corporate and real estate assets. As of June 30, 2024, Atalaya managed over $10 billion in assets under management. Ivan Zinn, Atalaya's Founding Partner and Chief Investment Officer, has been appointed as Blue Owl's Head of Alternative Credit, reporting to Craig Packer, Head of Credit and Co-President of Blue Owl.
Blue Owl Capital (NYSE: OWL) has launched The Nest by Blue Owl, a digital platform designed to simplify alternative investing for financial advisors and their clients. The platform offers three main pillars: Learn, Implement, and Engage. It provides resources including on-demand CE-accredited webinars, educational content, portfolio construction tools, and implementation guides.
The Learn section focuses on understanding private markets fundamentals, while Implement offers resources for portfolio integration. The Engage pillar provides market insights and opportunities to interact with Blue Owl experts. This initiative aims to address the lack of advisor-focused educational opportunities in private markets, which has been a barrier to broader adoption of alternatives in the private wealth channel.
Wingspire Equipment Finance has successfully completed its inaugural asset-backed securitization (ABS), WEF 2024-1, raising $201 million. This marks the first large-ticket equipment ABS to receive ratings from a major rating agency for an inaugural issuance. The transaction included five classes of notes, with the top classes receiving F1+/K1+ and AAA ratings from Fitch Ratings and Kroll Bond Rating Agency. The ABS was backed by a diverse portfolio of equipment loans and leases across various industries and was more than 3x oversubscribed, indicating strong investor demand. Over 20 prominent investors participated, reflecting confidence in Wingspire's portfolio quality, management expertise, and underwriting standards.
Wingspire Equipment Finance has achieved a significant milestone, surpassing $2 billion in funded transactions. Founded in 2017 as Liberty Commercial Finance, the company was acquired by Wingspire Capital in 2022 and rebranded. This achievement highlights their rapid growth and commitment to providing exceptional financial solutions.
Key points:
- Reached $1 billion in funded volume in 2021
- Specializes in serving private equity firms and their portfolio companies
- Offers customized equipment finance solutions
- Focuses on fostering long-term client success
Founder Eric Freeman attributes this success to the team's hard work and dedication to delivering forward-thinking and reliable equipment finance solutions for clients.
Blue Owl Capital, Chirisa Technology Parks (CTP), and PowerHouse Data Centers have announced a $5 billion joint venture to develop large-scale AI/HPC data centers. The first phase focuses on building 120MW of capacity for CoreWeave in 2025 and 2026 at CTP's 350-acre campus near Richmond, VA. This innovative partnership aims to rapidly deploy new AI/HPC capacity across the United States on a Built-to-Suit basis.
The joint venture plans further expansions in New Jersey, Pennsylvania, Texas, Kentucky, and Nevada. This collaboration brings together Blue Owl's financial expertise, CTP's development capabilities, and PowerHouse's real estate leadership to meet the growing demand for hyperscale infrastructure in the AI landscape.
The Dot Group, a leader in global student living, has announced a strategic financing relationship with Blue Owl's GP Strategic Capital platform. This partnership provides Dot with access to institutional capital and support for growth initiatives, focusing on Global Student Accommodation (GSA) and Yugo, Dot's student housing operator. The collaboration aligns with Dot's investment horizon and strategic goals, aiming to accelerate business development plans and capitalize on global opportunities.
Nick Porter, CEO of The Dot Group, expressed pride in the relationship, highlighting Dot's strong market position and the robust demand in the student sector. Michael Rees, Co-President of Blue Owl, affirmed their belief in Dot's leadership in student housing real estate. This partnership underscores the growing demand for university education and the overall student experience globally, positioning Dot for continued growth and success in the student living sector.
Blue Owl Capital Inc. (NYSE: OWL), a leading alternative asset manager, has hired John Valtwies to lead its private wealth business in Australia. Valtwies, formerly a senior leader at PIMCO's Global Wealth Management team, brings over a decade of experience managing Australian private client relationships. His expertise spans family offices, private banks, and ultra-high-net-worth advisory groups.
Sean Connor, President & CEO of Global Private Wealth at Blue Owl, emphasized the company's commitment to scaling its global private wealth business through market-leading talent acquisition. Valtwies' appointment follows Blue Owl's recent hiring of Alicia Gregory, former Deputy CIO of Australia Future Fund, for its Institutional team, signaling the firm's strategic expansion in the Australian market.
Altamont Capital Partners has successfully closed its first continuation fund, extending its investment in Tacala , the leading Taco Bell franchisee with over 360 locations in the Southeastern US. The oversubscribed transaction was led by Blue Owl Strategic Equity and Pantheon, with participation from other investors and significant reinvestment from Altamont and Tacala management.
Since Altamont's initial investment in 2012, Tacala has grown from 160 to over 360 restaurants and more than quadrupled its earnings. In 2023, Altamont and Tacala management formed a sister company to operate as a franchisee within the 7 Brew drive-thru coffee system. The transaction provides liquidity for existing Altamont investors and capital for Tacala's growth objectives, including the rapid build-out of its 7 Brew business.
Blue Owl Capital III (NYSE: OBDE) reported strong Q2 2024 results, with net investment income (NII) per share of $0.41, exceeding the regular dividend of $0.35 by over 15%. The company declared a Q3 2024 dividend of $0.35 per share and announced the second of five special dividends of $0.06 per share. Net Asset Value (NAV) per share increased to $15.56, up $0.28 from June 30, 2023.
OBDE's portfolio grew significantly, with new investment commitments totaling $1.0 billion across 31 new and 24 existing portfolio companies. The portfolio consisted of 85.0% first lien senior secured debt investments, with a weighted average total yield of 11.5% on accruing debt and income-producing securities.
Importantly, OBDE announced a definitive merger agreement with Blue Owl Capital (NYSE: OBDC), subject to shareholder approvals and closing conditions.
Blue Owl Capital (NYSE: OBDC) reported strong Q2 2024 results, with net investment income of $0.48 per share exceeding the regular dividend by 30%. The Board declared a total dividend of $0.43 per share, representing an 11.2% annualized yield. Net asset value (NAV) per share increased to $15.36, up $0.10 from June 2023.
OBDC announced a merger agreement with Blue Owl Capital III (NYSE: OBDE), aiming to grow its portfolio and benefit shareholders. The company's portfolio consisted of 75.4% first lien senior secured debt investments as of June 30, 2024, with a weighted average total yield of 11.9% on accruing debt and income-producing securities at fair value.
New investment commitments for Q2 2024 totaled $3.3 billion across 49 portfolio companies. The company maintained a strong liquidity position with $380 million in cash and $1.3 billion of undrawn capacity on credit facilities.
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