Blue Owl Capital Inc. reports developments as a global alternative asset manager investing across Credit, Real Assets and GP Strategic Capital. Recurring updates cover operating and financial results, assets under management, fundraising, capital deployment, dividends, share repurchases and other capital-structure actions tied to its permanent capital base.
News also includes activity involving Blue Owl-managed specialty finance companies such as Blue Owl Capital Corporation and Blue Owl Technology Finance Corp., including portfolio performance, dividends, repurchase programs and financing activity within the Credit platform.
KBRA has assigned a BBB+ rating with a Stable outlook to Blue Owl Capital 's (NYSE: OBDC) $400 million, 5.95% senior unsecured notes due 2029. The rating reflects OBDC's connection to the $128.4 billion Blue Owl Credit platform and its strong position in the private credit market. The company maintains a $13.4 billion investment portfolio across 219 companies, focusing on senior secured first lien loans. Key strengths include solid liquidity with $1.3 billion in available credit lines, $427 million in unrestricted cash, and a diverse funding profile. OBDC plans to merge with Blue Owl Capital III (OBDE) in Q1 2025, potentially becoming the second-largest publicly traded BDC with approximately $17.7 billion in investments.
Wingspire Equipment Finance has provided a $35 million equipment financing deal to a sponsor-backed medical technology company focused on sterile liquid medicines and vaccines. The financing will fund custom Blow-Fill-Seal (BFS) machines to enhance production capacity. The client company recently achieved significant innovations in prefilled injection devices, reducing costs by nearly 50%. The new BFS machines will improve unit production output, consolidate operations, reduce carbon footprint, and lower transportation costs. The capital lease structure was chosen over equity investment as a more cost-effective solution.
Blue Owl Capital (NYSE: OBDC) reported third quarter 2024 financial results with net investment income of $0.47 per share, exceeding the regular dividend of $0.37 by 27%. The company declared total dividends of $0.42 per share, including a $0.05 supplemental dividend, representing an 11.0% annualized yield based on NAV. Net Asset Value per share was $15.28, compared to $15.36 in June 2024.
The company reported $1.2 billion in originations and $1.1 billion in sales/repayments. Portfolio quality improved with non-accrual investments decreasing to 0.7% from 1.4%. Investment income increased to $406.0 million, while total expenses rose to $217.6 million. The company maintains $481.3 million in cash and restricted cash with $1.6 billion undrawn capacity on credit facilities.
Blue Owl Capital III (NYSE: OBDE) reported its Q3 2024 financial results with net investment income of $0.41 per share, maintaining the previous quarter's performance and exceeding the regular dividend of $0.35 by 17%. The company's NAV per share was $15.49, slightly down from $15.56 in Q2. Q3 originations were $575.1 million, with $649.1 million in sales and repayments. The portfolio showed strong credit quality with non-accrual investments decreasing to 0.2% of debt portfolio fair value.
The company announced a merger agreement with Blue Owl Capital (NYSE: OBDC), expected to close after special meetings scheduled for January 8, 2025. The Board declared a Q4 2024 dividend of $0.35 per share and confirmed the third special dividend of $0.06 per share.
Blue Owl Capital (NYSE:OWL) reported strong Q3 2024 results with over 25% management fee growth and 30% revenue growth year-over-year. The company achieved its second-highest quarterly fundraising, demonstrating robust organic trends across its business. Blue Owl announced an agreement to acquire IPI's business, expanding its presence in digital infrastructure. The company declared a quarterly dividend of $0.18 per Class A Share, payable on November 22, 2024, to shareholders of record as of November 11, 2024.
Interos, a leader in AI-powered supply chain risk intelligence, has secured a $40 million strategic growth capital investment from Blue Owl Capital. The company, trusted by over 100 Fortune 1000 companies and federal agencies, will use the funding to strengthen its product-led growth strategy, enhance AI capabilities, and expand its go-to-market model. The investment follows previous backing from NightDragon, Kleiner Perkins, Venrock, and strategic investments from Accenture, Coupa, and ServiceNow. Interos' platform continuously analyzes 400+ million global entities across 11+ billion relationships, serving clients like Google, L3Harris, NASA, and the US Navy.
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.
Newmark Group, Inc. (Nasdaq: NMRK) has announced its role as strategic advisor in a $3.4 billion joint venture to fund a purpose-built data center in Abilene, Texas. The venture involves Blue Owl Capital, Primary Digital Infrastructure, and Crusoe Energy Systems Crusoe will design, build, and operate a 206 megawatt, 998,000-square-foot data center, which is 100% long-term leased to a Fortune 100 hyperscale tenant.
The data center, set to begin occupancy in 1H 2025, will incorporate innovative design optimized for direct-to-chip liquid cooling and support high energy density IT applications, particularly for artificial intelligence workloads. It will have the capacity to operate up to 100,000 GPUs on a single integrated network fabric. The project is expected to contribute nearly $1 billion to the local economy over 20 years and create almost a hundred local jobs.
Eldridge Industries has acquired a 10% interest from Blue Owl GP Stakes Fund III, introducing an innovative liquidity solution to the GP stakes industry. This transaction provides liquidity and unlocks value for Blue Owl GP Stakes Fund III investors while positioning Eldridge Industries as a leading provider of GP solutions. Blue Owl GP Stakes Fund III is a passive minority investment vehicle holding stakes in leading private equity firms.
Todd Boehly, Chairman and CEO of Eldridge Industries, expressed excitement about working with Blue Owl on this innovative transaction. Michael Rees, Co-President of Blue Owl and Head of GP Strategic Capital Platform, noted that Eldridge Industries was a natural match for providing a liquidity solution. Blue Owl (NYSE: OWL) is a leading asset manager with over $192 billion in assets under management as of June 30, 2024, investing across Credit, GP Strategic Capital, and Real Estate platforms.
Crusoe Energy Systems, Blue Owl Capital, and Primary Digital Infrastructure have announced a $3.4 billion joint venture to fund a 206 MW AI data center at the Lancium Clean Campus in Abilene, Texas. The project, designed and operated by Crusoe, is 100% long-term leased to a Fortune 100 hyperscale tenant with occupancy expected in 1H 2025.
The data center will be capable of supporting up to 100,000 GPUs on a single integrated network fabric, optimized for direct-to-chip liquid cooling and air cooling. The project aims to use both on- and off-site renewable energy sources, aligning with Crusoe's climate-focused mission. It's estimated to contribute nearly $1 billion to the local economy over 20 years and create almost 100 local jobs.