Blue Owl Capital Inc. operates as an alternative asset manager in the United States. It offers permanent capital base solutions that enables it to offer holistic framework of capital solutions to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. The company also provides private financing solutions, such as direct lending products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; alternative credit; investment grade credit; liquid credit; and other credit solutions. In addition, the company offers GP strategic capital products, which offers capital solutions, including GP minority stakes, GP debt financing, and professional sports minority stakes; and real estate products that focuses on acquiring triple net lease real estate by investment grade or creditworthy tenants, as well as real estate debt finance through net lease and real estate credit. It offers its solutions through permanent capital vehicles and long-dated private funds. Blue Owl Capital Inc. is headquartered in New York, New York.
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Artificial Intelligence▼impact 4
WSJ: $3 trillion in AI spending kept off balance sheets
The Wall Street Journal reports that nine top tech companies have $3 trillion in off-balance-sheet commitments, most related to AI. The report breaks down $1.2 trillion in uncommenced leases and $1.9 trillion in purchase obligations for chips and other data center components. It highlights Meta's Hyperion project in Louisiana, where a special vehicle owns the data center, with Meta holding 20% and Blue Owl 80%, and debt held by Beignet investor. The Journal raises concerns about who ultimately bears the risk, suggesting pension and retirement funds may be exposed.
Meta Platforms is using joint ventures to help fund some of its enormous data-center buildout, keeping some of the related debt off its balance sheet. One is Hyperion, Meta's data-center facility in Louisiana, a project with $27 billion of development expenditures owned 80% by Blue Owl Capital funds and 20% by Meta, which will lease the completed facilities and provide a residual-value guaranty on some of the project's future value. The company used a similar strategy for a data-center project in El Paso with BlackRock valued at approximately $14 billion, with about $12.5 billion of loan financing and more guaranties. The frameworks let Meta spread the initial finance load as it ramps up spending on AI infrastructure, but the danger is that Meta could still be on the hook financially if the value of those assets falls drastically or if those endeavors demand alternative accounting treatment down the line.
Blue Owl Capital closes European net lease fund oversubscribed at €1.6 billion
Blue Owl Capital announced the close of its European net lease fund with €1.6 billion of capital commitments, exceeding the original target of €1.0 billion and its previous hard cap of €1.5 billion. The Blue Owl Real Estate European Net Lease Fund is focused on acquiring single-tenant net leased real estate and infrastructure assets that are mission-critical to the operations of blue-chip, investment-grade tenants. The alternative asset manager believes the European net lease market is structurally underserved. OWL shares were 3.00% higher at $11.50 around noon trading on Tuesday.
KKR's Arctos unit considers at least $250 million investment in insurer partly managed by Blue Owl
KKR & Co.'s Arctos unit is reportedly considering an investment of at least $250 million in an insurer whose assets are partly managed by Blue Owl Capital, according to people familiar with the matter. The preferred equity investment is expected to come out of the $6.2 billion Arctos Keystone Partners Fund I, which provides financing for alternative asset managers. In 2024, Blue Owl agreed to buy $250 million of preferred equity in the insurer Kuvare and to acquire its asset management unit. Arctos, based in Dallas, Texas, is the largest institutional investor in professional sports franchises and a recognized innovator in providing strategic capital to asset management firms through structured solutions.
Ares and Blue Owl post resilient earnings as private credit defaults hit record 6%
Ares Capital and Blue Owl Capital reported resilient second-quarter results, while Ares Management posted record fundraising, highlighting continued institutional demand for private credit despite rising defaults, retail redemptions and liquidity concerns. Ares Management raised a record $36 billion in the second quarter, including $23.7 billion for its credit strategies, and its assets under management rose 17% from a year earlier to $671.3 billion. Ares Capital, the largest publicly traded business development company, reported core earnings of 47 cents per share, in line with the LSEG consensus estimate, and maintained its quarterly dividend with about $6 billion of available liquidity as of July 23. Blue Owl Capital reported $319 billion of assets under management at the end of June, up 12% from a year earlier, and its distributable earnings rose 9%, matching analysts' average estimate. However, Fitch Ratings said the U.S. private-credit default rate rose to a record 6.0% in the 12 months through June, from 5.7% in the previous quarter, with 32 default events in the second quarter involving 20 new borrowers. Retail-focused private-credit funds continued to receive redemption requests well above their normal quarterly repurchase limits, with second-quarter redemption requests reaching 38.1% of net asset value at Blue Owl Technology Income Corp, 18.9% at Blue Owl Credit Income Corp and 16.8% at Apollo Debt Solutions, while most funds repurchased shares equivalent to about 5% of net asset value during the quarter. Evercore estimated global private credit secondary-market volume reached $20.4 billion in the first half of 2026, up 122% from a year earlier and exceeding the total recorded in all of 2025, with GP-led deals accounting for 83% of the total.
Blue Owl Capital reports second quarter 2026 results, declares $0.23 dividend
Blue Owl Capital Inc. reported its financial results for the second quarter ended June 30, 2026, with assets under management reaching $319 billion, a five-fold increase since its listing five years ago. Co-CEOs Doug Ostrover and Marc Lipschultz attributed the growth to strong investment performance and business diversification across platforms and geographies. The company declared a quarterly dividend of $0.23 per Class A Share, payable on August 27, 2026, to shareholders of record as of August 13, 2026. Blue Owl will host an investor call on July 30, 2026, at 10:00 a.m. ET to discuss the results.
Blue Owl Capital Tied to Meta's $50 Billion Hyperion Data Center Expansion
Meta is expanding its Hyperion data center project in Louisiana to a planned investment of more than $50 billion, and Blue Owl Capital is involved through a joint venture focused on digital and AI infrastructure. The scale of the project highlights the growing role of private capital in funding large U.S. data center and connectivity projects. Blue Owl's stock last closed at $9.29, down 39.3% year to date and 48.2% over the past year, a gap that provides context for investors tracking the company. The expansion points to increasing capital needs around AI infrastructure, where Blue Owl's joint venture involvement could matter for its longer-term positioning. Future updates on project timing, capital commitments, and counterparties may help clarify how this exposure fits into the broader Blue Owl investment story.
Blue Owl acquires U.K. hospital portfolio for £1.3B
Blue Owl Capital has acquired a portfolio of 12 U.K. private hospitals from Malaysia's Employees Provident Fund for about £1.3 billion, or $1.7 billion, Bloomberg reported, citing people familiar with the transaction. The properties, currently managed by Moor Park Capital Partners, will continue to be overseen by the firm as asset manager, two of the people said, requesting anonymity because the deal has not yet been made public. The acquisition was made through Blue Owl's European Net Lease Fund, which has raised about €1.3 billion to date, one of the people said.
Jim Cramer Says He Would Avoid Blue Owl and Prefers Blackstone
Jim Cramer advised investors to avoid Blue Owl and instead buy Blackstone, citing that the private credit scare was overblown. He noted that Goldman Sachs reported only 3.24% of its investors chose to redeem their funds this month, well below the 5% allowed, signaling that private equity stocks are recovering. Cramer argued that the narrative of private credit chaos was largely manufactured by the media, leading to billions in losses for those who sold during the panic.
Blue Owl Capital caps private credit fund redemptions at 5% amid multi-billion withdrawal requests
Blue Owl Capital has enforced a 5% quarterly redemption cap on key private credit funds after receiving multi-billion US dollar withdrawal requests, testing the liquidity management of its permanent capital model. The move coincided with the firm's shift from Russell Growth indices to several Russell Value indices in late June 2026, including the Russell 1000 Value and Russell Midcap Value. The redemption caps highlight how Blue Owl's fund structures are designed to handle elevated liquidity demands without forced loan sales, while the recent completion of the Sila Realty Trust acquisition adds healthcare-focused net lease assets to its real assets platform. Analysts note that fundraising momentum and credit quality remain key swing factors, with some projecting revenue could reach about US$4.1 billion and earnings US$1.1 billion by 2029, though persistent withdrawal pressure and slower fee growth could alter that outlook.
Blue Owl keeps 5% redemption caps as OCIC requests ease from prior quarter
Blue Owl Capital maintained the industry-standard 5% quarterly withdrawal limit on two non-traded private credit funds, even as redemption requests at both funds fell compared to the prior quarter. The OCIC fund saw redemption requests totaling $3.6 billion, down from $4.2 billion in the previous quarter, though this remains higher than any competitor. The decision to keep caps reflects a structural liquidity backlog, as investors pulled a combined $12.9 billion from private credit funds targeting wealthy individuals in the first five months of 2026. Blue Owl's OTF fund also took a markdown of $490 million in the first quarter of 2026, the highest since its creation. Shares of Blue Owl rose 4.4% in premarket trading following the news.
Funds Managed by Blue Owl Capital Complete Acquisition of Sila Realty Trust
Funds managed by Blue Owl Capital have completed the acquisition of Sila Realty Trust, a net lease real estate investment trust focused on healthcare properties. Sila stockholders approved the merger with over 98% of votes in favor at a special meeting on June 26, 2026. Upon closing, Sila common stock ceased trading on the New York Stock Exchange and stockholders received $30.38 per share in cash, a roughly 19% premium over the closing price on April 17, 2026. The acquisition expands Blue Owl's core net lease strategy and its Real Assets platform, adding a portfolio of 137 healthcare properties and three undeveloped land parcels across 65 U.S. markets.
SummitIG Acquires Dark Fiber & Infrastructure from Blue Owl
SummitIG has completed the acquisition of Dark Fiber and Infrastructure, LLC from funds managed by Blue Owl Capital Inc. The deal adds nearly 200 miles of conduit and dark fiber assets to SummitIG's existing footprint of over 1,100 miles in Virginia, and extends its network into Maryland with nearly 60 miles reaching Baltimore. SummitIG CEO Sunny Kumar said the acquisition strengthens route diversity and capacity for hyperscalers, carriers, and large enterprises supporting cloud and AI workloads. DF&I was previously a portfolio company of Blue Owl's Digital Infrastructure platform, which grew its network reach sixfold over six years. The transaction comes as SummitIG expands across five core U.S. markets and recently formed a joint venture, SierraIG, to extend infrastructure into Mexico.
Blue Owl Capital Eyes Minority Investment in Cleveland Cavaliers
Blue Owl Capital is in advanced talks to acquire a minority stake in the NBA's Cleveland Cavaliers through its Dyal HomeCourt Partners fund, which already holds stakes in the Atlanta Hawks, Sacramento Kings, and Minnesota Timberwolves. The stake is expected to be between 5% and 10%, according to a person familiar with the situation. Sportico values the Cavaliers at $4.86 billion, making the franchise the 16th most valuable team in the NBA. Blue Owl and the Cavaliers declined to comment.
Blackstone Private Credit Fund Limits Redemptions After Requests Hit 10%
Blackstone has limited redemptions from its flagship private credit fund to 5% of shares after receiving withdrawal requests for 10% of the fund. The move, described by Blackstone's chief operating officer as "a feature, not a bug," is part of a broader trend, with Blue Owl Capital and Europe's Partners Group also imposing similar caps. Rising interest rates, recession fears, and potential AI-driven disruption in the software industry are fueling concerns about smaller companies' ability to repay loans. Ares Capital reported that its non-accrual loans rose to 2.1% of its portfolio in the first quarter of 2026, up from 1.8% at the start of the year. The redemption limits are designed to prevent forced asset sales that could depress loan valuations and destabilize the private credit market.
Private credit default fears are rattling business development company investors, with the S&P BDC Index trailing the broader stock market by nearly 15 percentage points year to date. High-profile collapses such as Wheel Pros' bankruptcy and the unwinding of United Site Services have exposed embedded losses, while Blue Owl Capital's technology-focused vehicles faced withdrawal requests for 40.7% of outstanding shares in the first quarter. Moody's Ratings cut its outlook for the entire BDC sector from stable to negative in April, citing surging redemptions and elevated leverage, and Morgan Stanley projected direct-lending defaults could climb to 8%. Main Street Capital stands out by combining debt with equity co-investments in lower-middle-market companies, which has helped its net asset value per share grow 160% since its 2007 IPO, and its internally managed structure avoids the fees that peers typically charge.
Sila Realty Trust Stockholders Approve Acquisition by Blue Owl Capital Affiliates
Sila Realty Trust stockholders have approved the company's acquisition by affiliates of Blue Owl Capital. At a special meeting, more than 98% of votes cast, representing approximately 63% of outstanding shares, were in favor of the merger. Under the terms announced on April 20, 2026, common stockholders will receive $30.38 in cash per share. The transaction is expected to close on July 1, 2026, after which Sila's common stock will no longer be publicly listed.