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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 (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.
Blue Owl Capital (NYSE: OBDC) and Blue Owl Capital III (NYSE: OBDE) have announced a merger agreement, with OBDC as the surviving company. The merger will create the second largest publicly traded BDC by total assets, with $18.4 billion in total assets at fair value. Key highlights include:
1. Acquisition of a known, high-quality portfolio with 90% investment overlap
2. Increased scale and diversification, with pro forma investment portfolio of $17.7 billion across 256 companies
3. Improved secondary market liquidity and potential for greater institutional ownership
4. Well-balanced capital structure and increased access to long-term, low-cost debt capital
5. Expected to be accretive to Net Investment Income (NII) and potential for NAV per share accretion
The transaction is subject to shareholder approvals and is expected to close in Q1 2025.
HealthCare Royalty (HCRx) and Blue Owl Capital have provided a $250 million term loan facility to TG Therapeutics (NASDAQ: TGTX), a biopharmaceutical company focused on B-cell diseases. The loan, maturing on August 2, 2029, supports TG's commercialization of BRIUMVI®, an anti-CD20 monoclonal antibody for treating relapsing forms of multiple sclerosis. BRIUMVI® generated $89 million in U.S. net revenue in 2023. An additional $100 million facility is available at mutual option. This financing demonstrates confidence in TG Therapeutics' commercial progress and provides capital for its business objectives.
Blue Owl Capital Inc. (NYSE: OWL) reported strong financial results for Q2 2024, with management fee growth exceeding 20% year-over-year for every quarter since going public. The company achieved record levels of deployment, strong pipelines, and robust fundraising across various strategies and products. Blue Owl announced an agreement to acquire Atalaya Capital Management's business, expanding its capabilities in alternative credit and asset-based finance. The company declared a quarterly dividend of $0.18 per Class A Share, payable on August 30, 2024. Blue Owl's Co-CEOs, Doug Ostrover and Marc Lipschultz, expressed confidence in the company's positioning within major trends driving alternative asset management growth.
Blue Owl Capital Inc. (NYSE: OWL) has announced a $450 million acquisition of Atalaya Capital Management LP, an alternative credit manager. The deal, expected to close in H2 2024, will add over $10 billion in assets under management to Blue Owl's portfolio. Atalaya, founded in 2006, specializes in asset-based credit investments across various sectors.
The acquisition price includes $350 million in Blue Owl equity and $100 million in cash, with a potential $350 million earnout based on future revenue targets. Ivan Zinn, Atalaya's founder, will join Blue Owl as Head of Alternative Credit. The move is expected to be modestly accretive to Blue Owl in 2025 and will significantly expand its alternative credit offerings.
Blue Owl Capital (NYSE: OWL) will announce its second quarter 2024 financial results on August 1, 2024, before the market opens. The company invites shareholders and interested parties to a webcast/conference call at 10 a.m. Eastern Time to discuss the results. The live broadcast will be available on the Shareholders section of Blue Owl's website. To participate, domestic callers can dial +1 (888) 330-2454 and international callers can dial +1 (240) 789-2714, using Conference ID: 4153114. An archived replay will be available on the company's website.
Blue Owl Capital (NYSE: OBDC) will release its Q2 2024 financial results on August 7, 2024, post-market close.
OBDC has scheduled a webcast / conference call on August 8, 2024, at 10:00 a.m. ET to discuss the results.
Interested participants can access the call through OBDC's website or by dialing provided numbers.
For those unable to attend, a replay will be available on OBDC's website for one year and via dial-in for 14 days.
All participants are advised to connect 10-15 minutes before the call starts.
Blue Owl Capital III (NYSE: OBDE) has scheduled the release of its financial results for Q2, ending June 30, 2024, on August 7, 2024, after market close. The company will host a webcast and conference call on August 8, 2024, at 11:00 a.m. ET to discuss these results. The live broadcast will be available on OBDE's website, with domestic participants dialing (877) 407-9714 and international participants dialing +1 (201) 689-8865. Replay options include a webcast link available for one year and a dial-in service accessible for 14 days using the code 13747167.
Blue Owl Capital (NYSE: OWL) has completed its acquisition of Kuvare Asset Management (KAM), a boutique investment management firm with $20 billion in assets under management as of May 31, 2024. The acquisition, initially announced in April 2024, allows Blue Owl to enhance its capabilities in serving the insurance market, marking the launch of Blue Owl Insurance Solutions. This new division will integrate Blue Owl's focused alternatives approach with expanded industry capabilities, allowing the firm to serve insurance clients more comprehensively. The move is expected to support Blue Owl's growth by strengthening relationships with insurance companies and providing a diversified source of capital.
Blue Owl Capital (NYSE: OWL) has announced several key hires to expand its European client coverage. These hires align with the firm's strategy to deepen engagement with key clients across Europe.
Michael Burns, who joined in Spring 2023 as Managing Director and Head of Institutional Business Development across EMEA, leads the initiative. New hires include Antonis Maggoutas, Antonia O'Connor, Leo Houtekamer, and Johan Stromberg, each bringing extensive experience from leading financial institutions.
These additions are expected to enhance Blue Owl's capabilities in Germany, Switzerland, Austria, the UK, Ireland, EMEA, the Nordics, and the Benelux region. The new team will work closely with existing staff to drive business development efforts and strengthen client relationships.
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