Blue Owl Capital Inc. - $OWL STOCK NEWS

Blue Owl Capital Inc. and Lunate announce a joint venture to provide growth capital to mid-sized private market managers. The joint venture aims to acquire minority stakes in private market investment managers with fee-paying assets under management of less than $10 billion. Lunate, with its multi-asset class approach, and Blue Owl's GP Strategic Capital platform will create a powerful proposition for mid-sized GPs seeking growth capital and strategic partnerships.

STORE Capital LLC, a net-lease real estate investment trust, has revealed a refreshed logo after being taken private by GIC and Blue Owl Capital. The privatization has provided the company with continued access to long-term capital, allowing it to offer reliable real estate financing solutions to its customers. The new logo emphasizes the advantage of this partnership and symbolizes the power of forged relationships. The company's president, Mary Fedewa, expressed excitement about the evolved visual identity, highlighting the commitment to customer-centric culture and the potential for helping customers achieve their business goals.

KBRA assigns a rating of BBB to Blue Owl Credit Income Corp.'s $750 million 6.65% senior unsecured notes due March 15, 2031 with a Stable Outlook. The company has ties to a $79.5 billion direct lending platform, a diversified $15.4 billion investment portfolio, and solid management. The rating reflects adequate leverage, strong liquidity, and a healthy credit quality. The company's note maturities are staggered, and it maintains sufficient cash and available credit lines for several quarters.

Blue Owl Capital Corporation III (OBDE) has received approval from the New York Stock Exchange and is expected to commence trading under the ticker symbol 'OBDE'. Preliminary Q4 2023 estimates show a net investment income per share range of $0.56 to $0.59 and a net asset value per share range of $15.52 to $15.58. Full financial results for Q4 and year ended December 31, 2023, will be released on February 21, 2024.

KBRA assigns a rating of BBB to Blue Owl Capital Corporation's (NYSE: OBDC ) $600 million 5.95% senior unsecured notes due March 15, 2029. The Outlook for the rating is Positive. The proceeds will be used to repay borrowings under the company's secured revolving facility and/or SPV asset facility II. The rating and the Positive Outlook are supported by the company’s ties to the solid $79.5 billion Blue Owl direct lending platform, the derived benefits from OBDC’s SEC exemptive relief to co-invest with other funds managed by the advisor and its affiliates, and its diversified $12.9 billion investment portfolio comprised mostly of senior secured loans (82.7%) to mostly upper middle market companies in mainly non-cyclical industries, as of September 30, 2023. The rating also reflects the company’s solid management team, which has a long track record of working within the private debt markets with each member of the Investment Committee having an average of over 30 years of experience in the industry. Additionally, the company maintains a prudent leverage target of 0.9x to 1.25x, which KBRA considers appropriate, allowing OBDC to absorb increased market volatility as well as a potential increase in non-accruals as we remain in an uncertain economic environment with increasing risk of a recession with high base rates for longer. Non-accruals remain relatively low at 0.80% and 0.95% of total investments at fair value and cost, respectively, as of September 30, 2023. KBRA believes that OBDC benefits from the company’s solid underwriting and focus on portfolio companies in the upper middle market with EBITDAs in excess of $100 million. OBDC’s profitability has benefited from the rising interest rate environment with an asset sensitive balance sheet with the majority of its investments variable rate loans. OBDC maintains solid access to the capital markets with a diversified funding mix of secured bank facilities, CLOs, and senior unsecured debt. Approximately 58% of the company’s total outstanding debt was comprised of senior unsecured notes which allows for solid unencumbered assets for noteholders. The strengths are counterbalanced by the potential risk related to the company’s illiquid investments, retained earnings constraints as a Regulated Investment Company (RIC), and an uncertain economic environment and geopolitical risks.

Blue Owl Capital Corporation III (OBDE), a leading business development company focused on lending to U.S. upper middle-market companies, intends to list its shares of common stock on the NYSE. The company plans to disclose preliminary estimates of fourth-quarter 2023 results by January 24, 2024, and release full financial results for the fourth quarter and fiscal year 2023 on February 21, 2024. The board declared a first quarter 2024 regular dividend of $0.35 per share and five special dividends of $0.06 per share, payable on a quarterly basis. A share repurchase program of up to $100 million of outstanding common stock has been approved. The board also waived transfer restrictions for a portion of the company's common stock. BofA Securities, J.P. Morgan, and RBC Capital Markets are serving as lead advisors to the company in connection with its proposed listing.

Blue Owl Capital Corporation (NYSE: OBDC) will release its financial results for the fourth quarter and fiscal year ended December 31, 2023 on February 21, 2024, followed by a webcast / conference call on February 22, 2024 at 10:00 a.m. Eastern Time to discuss the results.

Blue Owl Capital Inc. (NYSE: OWL) will release its Q4 2023 financial results on February 9, 2024, before market open. Interested persons can join the webcast/conference call at 8:30 a.m. Eastern Time on the same day to discuss the results.

Amergin Asset Management (AAM) has announced the acquisition of the Valkyrie portfolio of five narrow body aircraft with leases attached, bringing Amergin Aviation's managed fleet to nine narrow body aircraft on lease to operators in Europe, the Americas, and Asia. AAM plans to expand its acquisition of aviation assets throughout 2024. Ticker symbol: AAM.