Blue Owl Capital Corporation Celebrates the Five-Year Anniversary of Wingspire Capital

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Blue Owl Capital (NYSE: OBDC) celebrates the five-year anniversary of its investment in Wingspire Capital, a premier asset-backed direct lender. Since its launch in fall 2019, Wingspire has closed over $4.5 billion in financing commitments across its two business units: Wingspire Equipment Finance and Wingspire Corporate Finance.

OBDC plans to continue supporting Wingspire's growth through organic expansion, acquisitions, and new product offerings. Wingspire specializes in providing flexible financing solutions for middle-market businesses with bank-adjacent credit profiles. The company recently completed its inaugural equipment finance asset-backed securitization, WEF 2024-1, marking a significant milestone in the industry.

Wingspire Capital currently has over $1 billion in assets under management and offers senior secured credit facilities of up to $200 million. The company serves various industries, including automotive, business services, healthcare, and technology applications.

• Over $4.5 billion in financing commitments across Wingspire Equipment Finance and Wingspire Corporate Finance

NEW YORK, Oct. 22, 2024 /PRNewswire/ -- Blue Owl Capital Corporation (NYSE: OBDC) announced the five-year anniversary of its investment in Wingspire Capital ("Wingspire"), a premier asset-backed direct lender that operates two business units, Wingspire Equipment Finance and Wingspire Corporate Finance.

Blue Owl Capital Corporation launched Wingspire in the fall of 2019 and has increased its support steadily since then. Since inception, Wingspire has closed over $4.5 billion in financing commitments. Blue Owl Capital Corporation is keen to continue supporting both Wingspire Equipment Finance and Wingspire Corporate Finance through a combination of organic growth, acquisitions, and new product offerings. Blue Owl Capital Corporation was an early leader in the growing trend of private credit firms venturing into asset-backed lending, answering the increasing demand for flexible financing solutions in the marketplace.

Wingspire has made its mark as a provider of a range of specialized financing solutions, primarily focusing on the needs of middle-market businesses for bank-adjacent credit profiles that require swift access to capital. Wingspire Equipment Finance exemplifies this by providing tailored financing solutions designed to meet the needs of companies relying on specific equipment to execute their operations effectively.

Craig W. Packer, CEO of Blue Owl Capital Corporation, said: "Our continued support of Wingspire is a testament to the firm's world-class management team and their exceptional work in equipment financing and asset-based lending. Over the past five years, Wingspire has grown profitably and developed into a well-respected brand. We were especially pleased with the successful completion of its inaugural equipment finance asset-backed securitization (ABS), WEF 2024-1, which represented the first inaugural large-ticket equipment ABS to receive ratings from a major rating agency."

David Wisen, CEO of Wingspire Capital, said: "As the private credit market continues to evolve, the demand for flexible, timely capital solutions will grow. The support of Blue Owl Capital Corporation enables us to enhance our offerings and respond to our clients' unique needs more effectively."

"With the continued support of Blue Owl Capital Corporation, we are set to scale our operations and offer our clients access to capital in a way that is both efficient and effective," said Eric Freeman, the CEO of Wingspire Equipment Finance. "Our expertise in equipment finance combined with OBDC's extensive resources position us to remain a leader in this space."

ABOUT WINGSPIRE CAPITAL

Wingspire Capital provides senior secured credit facilities of up to $200 million, and currently has over $1 billion in assets under management. It operates as two divisions: Wingspire Corporate Finance, which provides senior secured revolving lines of credit and term loans, and Wingspire Equipment Finance, which provides standalone equipment loans and leases.

Industries financed include automotive, business services, consumer products, distribution, e-commerce & retail, financial services, food & beverage, healthcare, industrial, transportation & logistics, and technology applications.

Wingspire Capital is a portfolio company of Blue Owl Capital Corporation (NYSE: OBDC). OBDC is externally managed by Blue Owl Credit Advisors LLC, an indirect affiliate of Blue Owl Capital, Inc. (NYSE: OWL). Blue Owl Capital, Inc. is a global alternative asset manager with over $192 billion of assets under management as of June 30, 2024. For further information about Wingspire Capital, visit www.wingspirecapital.com.

 

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SOURCE Wingspire Capital

FAQ

What is the significance of Wingspire Capital's five-year anniversary for Blue Owl Capital (OBDC)?

The five-year anniversary marks OBDC's successful investment in Wingspire Capital, which has grown to close over $4.5 billion in financing commitments since its launch in 2019. This milestone demonstrates OBDC's leadership in the trend of private credit firms entering asset-backed lending.

How much has Wingspire Capital (OBDC's portfolio company) closed in financing commitments since its inception?

Wingspire Capital has closed over $4.5 billion in financing commitments since its inception in the fall of 2019.

What was significant about Wingspire Equipment Finance's recent securitization (WEF 2024-1)?

WEF 2024-1 was Wingspire's inaugural equipment finance asset-backed securitization and the first inaugural large-ticket equipment ABS to receive ratings from a major rating agency, marking a significant milestone for the company.

What types of financing solutions does Wingspire Capital (OBDC's portfolio company) offer?

Wingspire Capital offers senior secured credit facilities of up to $200 million, including revolving lines of credit, term loans, and equipment loans and leases through its two divisions: Wingspire Corporate Finance and Wingspire Equipment Finance.

How much assets under management does Wingspire Capital (OBDC's portfolio company) currently have?

Wingspire Capital currently has over $1 billion in assets under management.