Blue Owl Capital Inc Stock Price, News & Analysis

Blue Owl Capital, Chirisa Technology Parks (CTP), and PowerHouse Data Centers have announced a $5 billion joint venture to develop large-scale AI/HPC data centers. The first phase focuses on building 120MW of capacity for CoreWeave in 2025 and 2026 at CTP's 350-acre campus near Richmond, VA. This innovative partnership aims to rapidly deploy new AI/HPC capacity across the United States on a Built-to-Suit basis.

The joint venture plans further expansions in New Jersey, Pennsylvania, Texas, Kentucky, and Nevada. This collaboration brings together Blue Owl's financial expertise, CTP's development capabilities, and PowerHouse's real estate leadership to meet the growing demand for hyperscale infrastructure in the AI landscape.

The Dot Group, a leader in global student living, has announced a strategic financing relationship with Blue Owl's GP Strategic Capital platform. This partnership provides Dot with access to institutional capital and support for growth initiatives, focusing on Global Student Accommodation (GSA) and Yugo, Dot's student housing operator. The collaboration aligns with Dot's investment horizon and strategic goals, aiming to accelerate business development plans and capitalize on global opportunities.

Nick Porter, CEO of The Dot Group, expressed pride in the relationship, highlighting Dot's strong market position and the robust demand in the student sector. Michael Rees, Co-President of Blue Owl, affirmed their belief in Dot's leadership in student housing real estate. This partnership underscores the growing demand for university education and the overall student experience globally, positioning Dot for continued growth and success in the student living sector.

Blue Owl Capital Inc. (NYSE: OWL), a leading alternative asset manager, has hired John Valtwies to lead its private wealth business in Australia. Valtwies, formerly a senior leader at PIMCO's Global Wealth Management team, brings over a decade of experience managing Australian private client relationships. His expertise spans family offices, private banks, and ultra-high-net-worth advisory groups.

Sean Connor, President & CEO of Global Private Wealth at Blue Owl, emphasized the company's commitment to scaling its global private wealth business through market-leading talent acquisition. Valtwies' appointment follows Blue Owl's recent hiring of Alicia Gregory, former Deputy CIO of Australia Future Fund, for its Institutional team, signaling the firm's strategic expansion in the Australian market.

Altamont Capital Partners has successfully closed its first continuation fund, extending its investment in Tacala , the leading Taco Bell franchisee with over 360 locations in the Southeastern US. The oversubscribed transaction was led by Blue Owl Strategic Equity and Pantheon, with participation from other investors and significant reinvestment from Altamont and Tacala management.

Since Altamont's initial investment in 2012, Tacala has grown from 160 to over 360 restaurants and more than quadrupled its earnings. In 2023, Altamont and Tacala management formed a sister company to operate as a franchisee within the 7 Brew drive-thru coffee system. The transaction provides liquidity for existing Altamont investors and capital for Tacala's growth objectives, including the rapid build-out of its 7 Brew business.

Blue Owl Capital III (NYSE: OBDE) reported strong Q2 2024 results, with net investment income (NII) per share of $0.41, exceeding the regular dividend of $0.35 by over 15%. The company declared a Q3 2024 dividend of $0.35 per share and announced the second of five special dividends of $0.06 per share. Net Asset Value (NAV) per share increased to $15.56, up $0.28 from June 30, 2023.

OBDE's portfolio grew significantly, with new investment commitments totaling $1.0 billion across 31 new and 24 existing portfolio companies. The portfolio consisted of 85.0% first lien senior secured debt investments, with a weighted average total yield of 11.5% on accruing debt and income-producing securities.

Importantly, OBDE announced a definitive merger agreement with Blue Owl Capital (NYSE: OBDC), subject to shareholder approvals and closing conditions.

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.