Blue Owl Technology Finance Corp. uzavřela soukromou emisi seniorních nezajištěných dluhopisů v objemu 150 milionů USD s kupónem 7,60 % a splatností v září 2032. Celkové dluhové financování od 30. června tak vzrostlo na 800 milionů USD.
Third financing since June 30 brings total debt financing raised to $800 million, further strengthening OTF's liquidity and financial flexibility
, /PRNewswire/ -- Blue Owl Technology Finance Corp. (NYSE: OTF) ("OTF") today announced the closing of a private placement of $150 million aggregate principal amount of 7.60% senior unsecured notes due September 3, 2032 (the "Notes").
This transaction marks OTF's third financing since June 30, 2026, bringing total debt capital raised during the period to $800 million. In August, OTF issued an additional $400 million of its 6.500% notes due 2029. OTF also raised $250 million through a special purpose vehicle facility secured by a pool of portfolio investments.
"OTF's portfolio continues to perform well, with one of the lowest non-accrual rates in the BDC sector, and we continue to see strong support from both debt investors and our bank partners," said Craig W. Packer, Chief Executive Officer. "We have raised $800 million of debt financing since quarter-end through unsecured notes and an SPV facility, which further strengthens and diversifies our funding base. This added flexibility positions us to grow the portfolio and capitalize on an increasingly attractive environment for technology investing while maintaining our underwriting discipline that has defined OTF's performance."
During the second quarter, OTF issued $500 million of its 6.500% notes due 2029, added $150 million of secured financing and extended its $2.7 billion revolving credit facility. Every existing bank partner renewed its revolver commitment, and OTF added a new lending relationship that provided incremental financing capacity. OTF ended the quarter with more than $2 billion of cash and available capacity across its credit facilities and repaid its notes due June 2026 at maturity.
The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws and were offered and sold in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities.
About Blue Owl Technology Finance Corp.
Blue Owl Technology Finance Corp. (NYSE: OTF) is a specialty finance company focused on making debt and equity investments to U.S. technology-related companies, with a strategic focus on software. As of June 30, 2026, OTF had investments in 205 portfolio companies with an aggregate fair value of $14.7 billion. OTF has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. OTF is externally managed by Blue Owl Technology Credit Advisors LLC, an SEC-registered investment adviser that is an indirect affiliate of Blue Owl Capital Inc. ("Blue Owl") (NYSE: OWL) and part of Blue Owl's Credit platform.
Certain information contained herein may constitute "forward-looking statements" that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about OTF, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as "anticipates," "expects," "intends," "plans," "will," "may," "continue," "believes," "seeks," "estimates," "would," "could," "should," "targets," "projects," "outlook," "potential," "predicts" and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond OTF's control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in OTF's filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which OTF makes them. OTF does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.
Investor Contact:
BDC Investor Relations
Michael Mosticchio
[email protected]
Media Contact:
Head of Communications
Andrew Williams
[email protected]
Buy OWL. The stock is above $10.55 resistance, has a golden cross (50WMA/200WMA), and a bullish flag—classic momentum setup. Fundamental turnaround is improving (AUM +12% QoQ, revenue +7%, real assets ~30% of AUM, permanent capital +10%). Add the squeeze catalyst: 16% short interest plus improving sentiment can force fast covering. Upside target: $15.
Key Risk: A breakdown below $10.5 that signals the turnaround/momentum is failing and shorts don’t cover.
Ares/credit peers long (ARES, APO)
Buy Ares (ARES) and Apollo (APO) as a basket trade. The article ties OWL’s rebound to a broader private-credit/alternative asset turnaround—these names have already surged, but the second wave is continued inflows as investors rotate into “real assets + permanent capital” stories. If OWL keeps squeezing, it pulls attention and capital into the whole group.
Key Risk: Credit/alternative markets reprice lower (wider spreads or renewed redemption fears) and the group’s momentum reverses.
Blue Owl stock has staged a strong comeback in recent months, climbing from a low of $7.60 in April to around $11.85 currently. The rally could have further room to run after the stock formed a golden cross and a bullish flag pattern, while fading jitters across the AI sector could provide an additional tailwind.
The daily chart shows that the OWL stock has rebounded from a low of $7.6 in April to the current $11.85. It formed a golden cross pattern on August 14 this year. This pattern is formed when the 50-day and 200-day Weighted Moving Averages (WMA) cross each other.
The stock moved above the important resistance level of $10.55, its highest point in May and June this year. It has jumped above the Supertrend indicator, a sign that bulls are in control. Also, it has formed a bullish flag pattern, a common continuation sign.
Therefore, the stock may continue rising, with the next key target to watch will be at $15, which is about 27% from the current level. On the flip side, a move below the support level of $10.5 will invalidate the bullish outlook.
OWL stock chart | Source: TradingView
OWL stock is recovering after having one of the steepest crash earlier this year as cracks in the private sector industry emerged. Its recovery has coincided with that of other top companies in the industry.
For example, Ares Management’s stock has jumped by over 50% from its lowest point this year. Apollo Global Management has soared to $134, up by 35%, while KKR and Blackstone have also risen by double digits.
The company’s challenges started last year when the company attempted to merge the publicly traded Blue Owl Capital Corporation (OBDC) with the private Blue Owl Capital Corporation II (OBDC II). After that, the company sold $600 million in secondary portfolio near par and limited some redemptions.
The company is now implementing a turnaround strategy by reducing its dependence on direct lending, accelerating its growth in real assets and AI infrastructure, and expand its GP strategic capital.
In its recent results, the management noted that its real assets platform have continued growing and now holds about 30% of its assets under management (AUM). This growth helped it to boost its revenue by 27%.
As part of this approach, its direct lending now accounts about 35% of its AUM, compared with nearly half earlier this year. In total, its AUM jumped by 12% in the second quarter to over $319 billion, with permanent capital rising by 10% to $225 billion. Total revenue jumped by 7% to $753 million. The management said:
“As we look at the first half of 2026 across Blue Owl, a period spanning the most acute headline noise and elevated redemptions for non-traded BDCs, we raised more than $16.5 billion of equity capital across the firm or more than 40% of our last 12-month total.”
Blue Owl has also become highly undervalued, with the forward price-to-earnings ratio being 13, much lower than the S&P 500 Index’s average of 22. It is also a highly shorted company with a short interest of 16%, meaning that it may have a short squeeze soon.
, /PRNewswire/ -- Blue Owl Capital Inc. ("Blue Owl") (NYSE: OWL) today announced that its indirect subsidiary, Blue Owl Finance LLC, intends to offer 10-year senior unsecured notes (the "notes"), subject to market and other conditions. The notes will be fully and unconditionally guaranteed by each of Blue Owl, Blue Owl Capital GP Holdings LLC, Blue Owl Capital GP LLC, Blue Owl Capital Holdings LP, Blue Owl Capital Carry LP, Blue Owl Capital Group LLC, Blue Owl GPSC Holdings LLC, Blue Owl Capital GP Holdings LP, Blue Owl GP Stakes GP Holdings LLC, Blue Owl Real Estate Holdings LP, Blue Owl Real Estate GP Holdings LLC and Blue Owl Capital Holdings LLC. Blue Owl intends to use the net proceeds from this offering to repay a portion of outstanding borrowings under its revolving credit facility.
BofA Securities, Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers.
The notes are being offered pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (the "SEC") and only by means of a prospectus and prospectus supplement. An electronic copy of the prospectus supplement, together with the accompanying prospectus, is available on the SEC's website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus may be obtained by contacting the joint book-running managers: BofA Securities, Inc., NC1-004-03-43, Attn: Prospectus Department, 200 North College Street, 3rd floor, Charlotte NC 8255-0001, Email: [email protected]; Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, Email: [email protected], Telephone: (866) 471-2526; or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
About Blue Owl
Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®. With $319 billion in assets under management as of June 30, 2026, we invest across three multi-strategy platforms: Credit, Real Assets and GP Strategic Capital. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.
Together with over 1,380 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional.
Forward-Looking Statements
Certain statements made in this release, including those relating to the timing, size and other terms of the offering, are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "would," "should," "future," "propose," "target," "goal," "objective," "outlook" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Any such forward-looking statements are made pursuant to the safe harbor provisions available under applicable securities laws and speak only as of the date made. Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law.
These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blue Owl's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.
Important factors, among others, that may affect actual results or outcomes include the inability to recognize the anticipated benefits of strategic acquisitions; costs related to acquisitions; the inability to maintain the listing of Blue Owl's shares on the New York Stock Exchange; Blue Owl's ability to manage growth; Blue Owl's ability to execute its business plan and meet its projections; potential litigation involving Blue Owl; changes in applicable laws or regulations; and the possibility that Blue Owl may be adversely affected by other economic, business, geo-political and competitive factors.
Investor Contact
Ann Dai
Head of Investor Relations
[email protected]
Blue Owl Capital Corporation oznámila za 2. čtvrtletí 2026 čistý investiční výnos na akcii ve výši 0,36 USD a NAV na akcii ve výši 14,26 USD. Představenstvo vyhlásilo dividendu 0,33 USD na akcii včetně mimořádné dividendy 0,02 USD.
, /PRNewswire/ -- Blue Owl Capital Corporation (NYSE: OBDC) ("OBDC" or the "Company") today announced financial results for its second quarter ended June 30, 2026.
SECOND QUARTER 2026 HIGHLIGHTS
Second quarter GAAP net investment income ("NII") per share of $0.36 Second quarter adjusted NII per share(1) increased to $0.34, as compared to the prior quarter of $0.31 Based on OBDC's supplemental dividend framework, the Board of Directors (the "Board") declared a second quarter supplemental dividend of $0.02 per share Dividends declared totaled $0.33 per share, representing an annualized dividend yield of 9.3%(2) Net asset value ("NAV") per share of $14.26, as compared to $14.41 as of March 31, 2026, primarily reflecting markdowns on a small number of names, partially offset by over-earning the dividend and accretive share repurchases New investment commitments for the second quarter were $319 million and sales and repayments were $747 million Investments on non-accrual represented 2.8% and 0.8% of the portfolio at cost and fair value, respectively, as compared to 2.0% and 1.0% as of March 31, 2026 The Company repurchased approximately $35 million of OBDC common stock, which was accretive to NAV per share in the second quarter Amended and extended the revolving credit facility with all banking partners renewing commitments and issued $800 million of unsecured debt during the second quarter "We are pleased with OBDC's performance this quarter, generating strong earnings resulting in a 9.6% annualized return on adjusted net investment income and healthy dividend coverage. Portfolio company operating trends remained stable, and credit performance continued to track in line with expectations," said Craig W. Packer, Chief Executive Officer. "As market conditions continue to stabilize and investment opportunities become increasingly attractive, we believe OBDC is well positioned to deploy capital selectively. With leverage at a two-year low and a strong liquidity profile, we have meaningful flexibility to capitalize on compelling investment opportunities as we focus on delivering attractive risk-adjusted returns for shareholders."
Dividend Declaration
On August 4, 2026 the Board declared a third quarter 2026 base dividend of $0.31 per share for stockholders of record as of September 30, 2026, payable on or before October 15, 2026.
The Board also declared a second quarter 2026 supplemental dividend of $0.02 per share, related to the Company's second quarter 2026 earnings, for stockholders of record as of August 31, 2026, payable on or before September 15, 2026.
(1)
See Non-GAAP Financial Measures for a description of the non-GAAP measures and the reconciliations from the most comparable GAAP financial measures to the Company's non-GAAP measures, including on a per share basis. The Company's management utilizes these non-GAAP financial measures to internally analyze and assess financial results and performance. These measures are also considered useful by management as an additional resource for investors to evaluate the Company's ongoing results and trends, as well as its performance, excluding non-cash income or gains related to the merger between the Company and Blue Owl Capital Corp. III ("OBDE") (such merger, the "OBDE Merger"), which closed on January 13, 2025. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.
(2)
Dividend yield based on OBDC's annualized Q2'26 base dividend of $0.31 per share payable to shareholders of record as of June 30, 2026, annualized Q2'26 supplemental dividend of $0.02 per share payable to shareholders of record as of August 31, 2026, and Q2'26 NAV per share of $14.26 less Q2'26 supplemental dividend per share of $0.02.
SELECT FINANCIAL HIGHLIGHTS
As of and for the Three Months Ended
($ in thousands, except per share amounts)
June 30, 2026
March 31, 2026
June 30, 2025
GAAP results:
Net investment income per share
$ 0.36
$ 0.32
$ 0.42
Net realized and unrealized gains (losses) per share
$ (0.22)
$ (0.37)
$ (0.15)
Net increase (decrease) in net assets resulting from operations per share
$ 0.13
$ (0.05)
$ 0.27
Non-GAAP financial measures(1):
Adjusted net investment income per share
$ 0.34
$ 0.31
$ 0.40
Adjusted net realized and unrealized gains (losses) per share
$ (0.21)
$ (0.36)
$ (0.13)
Adjusted net increase (decrease) in net assets resulting from operations per share
$ 0.13
$ (0.05)
$ 0.27
Base dividend declared per share
$ 0.31
$ 0.37
$ 0.37
Supplemental dividend declared per share
$ 0.02
$ —
$ 0.02
Total investments at fair value
$ 14,955,049
$ 15,344,201
$ 16,868,782
Total debt outstanding (net of unamortized debt issuance costs)
$ 7,903,533
$ 8,454,559
$ 9,225,817
Net assets
$ 7,031,759
$ 7,154,000
$ 7,682,397
Net asset value per share
$ 14.26
$ 14.41
$ 15.03
Net debt-to-equity
1.11x
1.13x
1.17x
(1)
See Non-GAAP Financial Measures for a description of the non-GAAP measures and the reconciliations from the most comparable GAAP financial measures to the Company's non-GAAP measures, including on a per share basis. The Company's management utilizes these non-GAAP financial measures to internally analyze and assess financial results and performance. These measures are also considered useful by management as an additional resource for investors to evaluate the Company's ongoing results and trends, as well as its performance, excluding non-cash income or gains related to the OBDE Merger. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.
PORTFOLIO COMPOSITION
As of June 30, 2026, the Company had investments in 229 portfolio companies across 30 industries, with an aggregate portfolio size of $15.0 billion at fair value and an average investment size of $65.3 million at fair value.
June 30, 2026
March 31, 2026
($ in thousands)
Fair Value
% of Total
Fair Value
% of Total
Portfolio composition:
First-lien senior secured debt investments1
$ 10,937,849
73.2 %
$ 11,035,403
72.1 %
Second-lien senior secured debt investments
674,223
4.5 %
773,357
5.0 %
Unsecured debt investments
377,224
2.5 %
369,374
2.4 %
Specialty finance debt investments
171,254
1.1 %
159,598
1.0 %
Preferred equity investments
262,536
1.8 %
536,853
3.5 %
Common equity investments
714,693
4.8 %
665,746
4.3 %
Specialty finance equity
1,426,590
9.5 %
1,414,987
9.2 %
Joint ventures
390,680
2.6 %
388,883
2.5 %
Total investments
$ 14,955,049
100.0 %
$ 15,344,201
100.0 %
(1)
The Company considers 52% and 51% of first-lien senior secured debt investments to be unitranche loans as of June 30, 2026 and March 31, 2026, respectively.
June 30, 2026
March 31, 2026
Number of portfolio companies
229
230
Percentage of debt investments at floating rates
96.0 %
96.1 %
Percentage of senior secured debt investments
78.8 %
78.1 %
Weighted average spread over base rate of floating rate debt investments
5.6 %
5.6 %
Weighted average total yield of accruing debt and income-producing securities at fair value
9.9 %
10.0 %
Weighted average total yield of accruing debt and income-producing securities at cost
9.9 %
10.0 %
Percentage of investments on non-accrual of the portfolio at fair value
0.8 %
1.0 %
PORTFOLIO AND INVESTMENT ACTIVITY
For the three months ended June 30, 2026, new investment commitments totaled $319 million across 5 new portfolio companies and 8 existing portfolio companies. For the three months ended March 31, 2026, new investment commitments were $676 million across 7 new portfolio companies and 16 existing portfolio companies.
For the three months ended June 30, 2026, the principal amount funded totaled $219 million and aggregate principal amount of sales and repayments totaled $747 million. For the three months ended March 31, 2026, the principal amount of new investments funded was $430 million and aggregate principal amount of sales and repayments was $1.5 billion.
For the Three Months Ended June 30,
($ in thousands)
2026
2025
New investment commitments:
Gross originations
$ 357,074
$ 1,116,767
Less: Sell downs
(37,750)
—
Total new investment commitments
$ 319,324
$ 1,116,767
Principal amount of new investments funded:
First-lien senior secured debt investments
$ 208,532
$ 587,980
Second-lien senior secured debt investments
—
205,340
Unsecured debt investments
—
—
Specialty finance debt investments
—
9,813
Preferred equity investments
—
2,914
Common equity investments
—
4,401
Specialty finance equity investments
5,239
84,114
Joint venture investments
4,844
11,473
Total principal amount of new investments funded
$ 218,615
$ 906,035
Drawdowns (repayments) on revolvers and delayed draw term loans, net
$ 210,160
$ 142,162
Principal amount of investments sold or repaid:
First-lien senior secured debt investments(1)
$ (432,759)
$ (1,612,475)
Second-lien senior secured debt investments
(33,720)
(178,056)
Unsecured debt investments
(2,040)
(24,233)
Specialty finance debt investments
—
—
Preferred equity investments
(255,888)
(4,933)
Common equity investments
(249)
(78,607)
Specialty finance equity investments
(22,043)
(8,583)
Joint venture investments
—
—
Total principal amount of investments sold or repaid
$ (746,699)
$ (1,906,887)
Number of new investment commitments in new portfolio companies(2)
5
6
Average new investment commitment amount in new portfolio companies
$ 49,525
$ 92,279
Weighted average term for new investment commitments (in years)
6.1
5.9
Percentage of new debt investment commitments at
floating rates
100.0 %
99.0 %
Percentage of new debt investment commitments at
fixed rates
— %
1.0 %
Weighted average interest rate of new investment commitments(3)
8.7 %
9.7 %
Weighted average spread over applicable base rate of new debt investment commitments at floating rates
4.9 %
5.4 %
(1)
Includes scheduled paydowns.
(2)
Number of new investment commitments represents commitments to a particular portfolio company.
(3)
Assumes each floating rate commitment is subject to the greater of the interest rate floor (if applicable) or 3-month SOFR, which was 3.73% and 4.29% as of June 30, 2026 and 2025, respectively.
RESULTS OF OPERATIONS FOR THE SECOND QUARTER ENDED JUNE 30, 2026
Investment Income
Investment income increased to $401 million for the three months ended June 30, 2026 from $397 million for the three months ended March 31, 2026, primarily driven by the impact of higher dividend income and non-recurring other income from a realization of a preferred equity investment, offset by a decline in average investments over the period. The Company expects that investment income will vary based on a variety of factors including the pace of originations and repayments, spreads of new deployments, and base rate movements.
Expenses
Total expenses decreased to $224 million for the three months ended June 30, 2026 from $235 million for the three months ended March 31, 2026, primarily driven by a decrease in interest expense from a decline in daily average borrowings from $9.3 billion to $8.4 billion. As a percentage of total assets, professional fees, directors' fees and other general and administrative expenses remained relatively consistent period-over-period.
Liquidity and Capital Resources
As of June 30, 2026, the Company had $238 million in cash and restricted cash, $8.0 billion in total principal value of debt outstanding, including $4.2 billion of undrawn capacity(1) on the Company's credit facilities and $5.3 billion of unsecured notes. The funding mix was composed of 33.6% secured and 66.4% unsecured borrowings as of June 30, 2026 on an outstanding basis. The Company was in compliance with all financial covenants under its credit facilities as of June 30, 2026. The Company has analyzed cash and cash equivalents, availability under its credit facilities, the ability to rotate out of certain assets and amounts of unfunded commitments that could be drawn and believes its liquidity and capital resources are sufficient to take advantage of market opportunities.
(1)
Reflects undrawn debt which is based on committed debt less debt outstanding as of June 30, 2026, and may not reflect the amount currently available due to borrowing base restrictions.
CONFERENCE CALL AND WEBCAST INFORMATION
Conference Call Information:
The conference call will be broadcast live on August 6, 2026 at 10:00 a.m. Eastern Time on the News & Events section of OBDC's website at www.blueowlcapitalcorporation.com. To pre-register for the call, please use the following link: www.blueowlcapitalcorporation.com/webcast-registration?event_id=29120. Please visit the website before the webcast to test your connection.
Participants are also invited to access the conference call by dialing one of the following numbers:
Domestic: (877) 737-7048 International: +1 (201) 689-8523 All callers will need to reference "Blue Owl Capital Corporation" once connected with the operator. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected.
Replay Information:
An archived replay will be available for 14 days via a webcast link located on the News & Events section of OBDC's website, and via the dial-in numbers listed below:
Domestic: (877) 660-6853 International: +1 (201) 612-7415 Access Code: 13761127 ABOUT BLUE OWL CAPITAL CORPORATION
Blue Owl Capital Corporation (NYSE: OBDC) is a specialty finance company focused on lending to U.S. middle-market companies. As of June 30, 2026, OBDC had investments in 229 portfolio companies with an aggregate fair value of $15.0 billion. OBDC has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. OBDC is externally managed by Blue Owl Credit Advisors LLC, an SEC-registered investment adviser that is an indirect affiliate of Blue Owl Capital Inc. ("Blue Owl") (NYSE: OWL) and part of Blue Owl's Credit platform.
Certain information contained herein may constitute "forward-looking statements" that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about OBDC, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as "anticipates," "expects," "intends," "plans," "will," "may," "continue," "believes," "seeks," "estimates," "would," "could," "should," "targets," "projects," "outlook," "potential," "predicts" and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond OBDC's control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in OBDC's filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which OBDC makes them. OBDC does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.
INVESTOR CONTACTS
Investor Contact:
BDC Investor Relations
Michael Mosticchio
[email protected]
Media Contact:
Head of Communications
Andrew Williams
[email protected]
FINANCIAL HIGHLIGHTS
For the Three Months Ended
($ in thousands, except per share amounts)
June 30, 2026
March 31, 2026
June 30, 2025
Investments at fair value
$ 14,955,049
$ 15,344,201
$ 16,868,782
Total assets
$ 15,354,604
$ 16,018,541
$ 17,398,476
Net asset value per share
$ 14.26
$ 14.41
$ 15.03
GAAP results:
Total investment income
$ 401,342
$ 396,774
$ 485,843
Net investment income
$ 176,173
$ 159,170
$ 216,708
Net increase (decrease) in net assets resulting from operations
$ 65,739
$ (24,382)
$ 137,506
GAAP per share results:
Net investment income
$ 0.36
$ 0.32
$ 0.42
Net realized and unrealized gains (losses)
$ (0.22)
$ (0.37)
$ (0.15)
Net increase (decrease) in net assets resulting from operations(1)
$ 0.13
$ (0.05)
$ 0.27
Non-GAAP financial measures(2):
Adjusted total investment income
$ 395,726
$ 390,564
$ 474,907
Adjusted net investment income
$ 170,557
$ 152,960
$ 205,772
Adjusted net increase (decrease) in net assets resulting from operations
$ 65,739
$ (24,382)
$ 137,502
Non-GAAP per share financial measures(2):
Adjusted net investment income
$ 0.34
$ 0.31
$ 0.40
Adjusted net realized and unrealized gains (losses)
$ (0.21)
$ (0.36)
$ (0.13)
Adjusted net increase (decrease) in net assets resulting from operations(1)
$ 0.13
$ (0.05)
$ 0.27
Base dividend declared per share
$ 0.31
$ 0.37
$ 0.37
Supplemental dividend declared per share
$ 0.02
$ —
$ 0.02
Weighted average yield of accruing debt and income producing securities at fair value
9.9 %
10.0 %
10.6 %
Weighted average yield of accruing debt and income producing securities at amortized cost
9.9 %
10.0 %
10.7 %
Percentage of debt investments at floating rates
96.0 %
96.1 %
97.6 %
(1)
Totals may not sum due to rounding.
(2)
See Non-GAAP Financial Measures for a description of the non-GAAP measures and the reconciliations from the most comparable GAAP financial measures to the Company's non-GAAP measures, including on a per share basis. The Company's management utilizes these non-GAAP financial measures to internally analyze and assess financial results and performance. These measures are also considered useful by management as an additional resource for investors to evaluate the Company's ongoing results and trends, as well as its performance, excluding non-cash income or gains related to the OBDE Merger. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
(Amounts in thousands, except share and per share amounts)
As of June 30, 2026
(Unaudited)
As of December 31,
2025
Assets
Investments at fair value:
Non-controlled, non-affiliated investments (amortized cost of $12,793,396 and $14,060,097, respectively)
$ 12,439,882
$ 13,995,055
Non-controlled, affiliated investments (amortized cost of $190,543 and $176,078, respectively)
142,746
114,192
Controlled, affiliated investments (amortized cost of $2,129,577, and $2,181,604, respectively)
2,372,421
2,361,646
Total investments at fair value (amortized cost of $15,113,516 and $16,417,779, respectively)
14,955,049
16,470,893
Cash (restricted cash of $20,399 and $47,448, respectively)
237,438
558,703
Foreign cash (cost of $625 and $9,722, respectively)
611
9,839
Interest and dividend receivable
91,333
104,576
Receivable from a controlled affiliate
33,012
26,846
Prepaid expenses and other assets
37,161
15,508
Total Assets
$ 15,354,604
$ 17,186,365
Liabilities
Debt (net of unamortized debt issuance costs of $101,772 and $93,186, respectively)
$ 7,903,533
$ 9,300,076
Distribution payable
152,874
184,877
Management fee payable
57,348
63,145
Incentive fee payable
36,156
38,899
Payables to affiliates
8,457
12,572
Accrued expenses and other liabilities
164,477
189,517
Total Liabilities
$ 8,322,845
$ 9,789,086
Commitments and contingencies (Note 8)
Net Assets
Common shares $0.01 par value, 1,000,000,000 shares authorized; 493,142,569 and
499,448,499 shares issued and outstanding, respectively
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except share and per share amounts)
(Unaudited)
For the Three Months Ended
June 30,
For the Six Months Ended
June 30,
2026
2025
2026
2025
Investment Income
Investment income from non-controlled, non-affiliated investments:
Interest income
$ 272,242
$ 384,762
$ 564,166
$ 741,225
Payment-in-kind ("PIK") interest income
29,145
29,581
56,379
64,973
Dividend income
17,971
20,810
38,180
42,341
Other income
19,960
5,268
23,118
10,858
Total investment income from non-controlled, non-affiliated investments
339,318
440,421
681,843
859,397
Investment income from non-controlled, affiliated investments:
Interest income
310
219
702
834
PIK interest income
169
865
257
1,904
Dividend income
3,575
555
6,770
555
Other income
24
34
50
70
Total investment income from non-controlled, affiliated investments
4,078
1,673
7,779
3,363
Investment income from controlled, affiliated investments:
Interest income
10,638
9,847
18,635
18,799
PIK interest income
2,272
—
6,431
—
Dividend income
44,678
33,869
82,867
68,874
Other income
358
33
561
56
Total investment income from controlled, affiliated investments
57,946
43,749
108,494
87,729
Total Investment Income
401,342
485,843
798,116
950,489
Operating Expenses
Interest expense
$ 122,983
$ 151,571
$ 257,299
$ 300,103
Management fees, net(1)
57,346
64,586
118,039
126,744
Performance based incentive fees
36,156
43,649
68,568
84,678
Professional fees
4,305
3,538
8,511
7,070
Directors' fees
445
320
890
640
Other general and administrative
3,222
3,185
6,307
7,212
Total Operating Expenses
224,457
266,849
459,614
526,447
Net Investment Income (Loss) Before Taxes
176,885
218,994
338,502
424,042
Income tax expense (benefit), including excise tax expense (benefit)
712
2,286
3,159
6,032
Net Investment Income (Loss) After Taxes
$ 176,173
$ 216,708
$ 335,343
$ 418,010
Net Realized and Change in Unrealized Gain (Loss)
Net change in unrealized gain (loss):
Non-controlled, non-affiliated investments
$ (110,049)
$ (125,752)
$ (274,474)
$ 70,764
Non-controlled, affiliated investments
(9,673)
(14,711)
14,091
(15,411)
Controlled, affiliated investments
20,372
37,485
62,802
34,095
Translation of assets and liabilities in foreign currencies and other transactions
4,049
13,351
780
17,367
Income tax (provision) benefit
(207)
(200)
500
(1,762)
Total Net Change in Unrealized Gain (Loss)
(95,508)
(89,827)
(196,301)
105,053
Net realized gain (loss):
Non-controlled, non-affiliated investments
$ (9,477)
$ 20,834
$ 1,196
$ (131,098)
Non-controlled, affiliated investments
1,427
—
(37,795)
—
Controlled, affiliated investments
(6,032)
—
(62,388)
—
Foreign currency transactions
(844)
(10,209)
1,302
(11,828)
Total Net Realized Gain (Loss)
(14,926)
10,625
(97,685)
(142,926)
Total Net Realized and Change in Unrealized Gain (Loss)
(110,434)
(79,202)
(293,986)
(37,873)
Net Increase (Decrease) in Net Assets Resulting from Operations
$ 65,739
$ 137,506
$ 41,357
$ 380,137
Earnings Per Share - Basic and Diluted
$ 0.13
$ 0.27
$ 0.08
$ 0.76
Weighted Average Shares Outstanding - Basic and Diluted
495,377,115
511,048,237
497,130,632
502,981,791
(1)
Refer to "Note 3 — Agreements and Related Party Transactions" for additional details on management fee waiver.
NON-GAAP FINANCIAL MEASURES
On a supplemental basis, the Company is disclosing certain adjusted financial measures, each of which is calculated and presented on a basis of methodology other than in accordance with GAAP ("non-GAAP"). The Company's management utilizes these non-GAAP financial measures to internally analyze and assess financial results and performance. These measures are also considered useful by management as an additional resource for investors to evaluate the Company's ongoing results and trends, as well as its performance, excluding non-cash income or gains related to the OBDE Merger. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.
"Adjusted Total Investment Income" and "Adjusted Total Investment Income Per Share": represents total investment income excluding any amortization or accretion of interest income resulting solely from the cost basis established by ASC 805 (see below) for the assets acquired in connection with the OBDE Merger. "Adjusted Net Investment Income" and "Adjusted Net Investment Income Per Share": represents net investment income, excluding any amortization or accretion of interest income resulting solely from the cost basis established by ASC 805 (see below) for the assets acquired in connection with the OBDE Merger. "Adjusted Net Realized and Unrealized Gains (Losses)" and "Adjusted Net Realized and Unrealized Gains (Losses) Per Share": represents net realized and unrealized gains (losses) excluding any net realized and unrealized gains (losses) resulting solely from the cost basis established by ASC 805 (see below) for the assets acquired in connection with the OBDE Merger. "Adjusted Net Increase (Decrease) in Net Assets Resulting from Operations" and "Adjusted Net Increase (Decrease) in Net Assets Resulting from Operations Per Share": represents the sum of (i) Adjusted Net Investment Income and (ii) Adjusted Net Realized and Unrealized Gains (Losses). The OBDE Merger was accounted for as an asset acquisition in accordance with the asset acquisition method of accounting as detailed in ASC 805-50, Business Combinations—Related Issues ("ASC 805"). The consideration paid to the stockholders of OBDE was allocated to the individual assets acquired and liabilities assumed based on the relative fair values of the net identifiable assets acquired other than "non-qualifying" assets, which established a new cost basis for the acquired investments under ASC 805 that, in aggregate, was different than the historical cost basis of the acquired investments prior to the OBDE Merger. Additionally, immediately following the completion of the OBDE Merger, the acquired investments were marked to their respective fair values under ASC 820, Fair Value Measurements, which resulted in unrealized appreciation/depreciation. The new cost basis established by ASC 805 on debt investments acquired will accrete/amortize over the life of each respective debt investment through interest income, with a corresponding adjustment recorded to unrealized appreciation/depreciation on such investment acquired through its ultimate disposition. The new cost basis established by ASC 805 on equity investments acquired will not accrete/amortize over the life of such investments through interest income and, assuming no subsequent change to the fair value of the equity investments acquired and disposition of such equity investments at fair value, the Company will recognize a realized gain/loss with a corresponding reversal of the unrealized appreciation/depreciation on disposition of such equity investments acquired.
The Company's management uses the non-GAAP financial measures described above internally to analyze and evaluate financial results and performance and to compare its financial results with those of other business development companies that have not adjusted the cost basis of certain investments pursuant to ASC 805. The Company's management believes "Adjusted Total Investment Income", "Adjusted Total Investment Income Per Share", "Adjusted Net Investment Income" and "Adjusted Net Investment Income Per Share" are useful to investors as an additional tool to evaluate ongoing results and trends for the Company without giving effect to the income resulting from the new cost basis of the investments acquired in the OBDE Merger because these amounts do not impact the fees payable to Blue Owl Credit Advisors LLC (the "Adviser") under the fourth amended and restated investment advisory agreement (the "Investment Advisory Agreement") between the Company and the Adviser, and specifically as its relates to "Adjusted Net Investment Income" and "Adjusted Net Investment Income Per Share". In addition, the Company's management believes that "Adjusted Net Realized and Unrealized Gains (Losses)", "Adjusted Net Realized and Unrealized Gains (Losses) Per Share", "Adjusted Net Increase (Decrease) in Net Assets Resulting from Operations" and "Adjusted Net Increase (Decrease) in Net Assets Resulting from Operations Per Share" are useful to investors as they exclude the non-cash income and gain/loss resulting from the OBDE Merger and are used by management to evaluate the economic earnings of its investment portfolio. Moreover, these metrics more closely align the Company's key financial measures with the calculation of incentive fees payable to the Adviser under the Investment Advisory Agreement (i.e., excluding amounts resulting solely from the lower cost basis of the acquired investments established by ASC 805 that would have been to the benefit of the Adviser absent such exclusion).
The following table provides a reconciliation of total investment income (the most comparable U.S. GAAP measure) to adjusted total investment income for the periods presented:
For the Three Months Ended
($ in millions, except per share amounts)
June 30, 2026
March 31, 2026
June 30, 2025
Amount
Per Share
Amount
Per Share
Amount
Per Share
Total investment income
$ 401
$ 0.81
$ 397
$ 0.80
$ 486
$ 0.95
Less: purchase discount amortization
(6)
(0.01)
(6)
(0.01)
(11)
(0.02)
Adjusted total investment income(1)
$ 396
$ 0.80
$ 391
$ 0.78
$ 475
$ 0.93
The following table provides a reconciliation of net investment income (the most comparable U.S. GAAP measure) to adjusted net investment income for the periods presented:
For the Three Months Ended
($ in millions, except per share amounts)
June 30, 2026
March 31, 2026
June 30, 2025
Amount
Per Share
Amount
Per Share
Amount
Per Share
Net investment income
$ 176
$ 0.36
$ 159
$ 0.32
$ 217
$ 0.42
Less: purchase discount amortization
(6)
(0.01)
(6)
(0.01)
(11)
(0.02)
Adjusted net investment income(1)
$ 171
$ 0.34
$ 153
$ 0.31
$ 206
$ 0.40
The following table provides a reconciliation of net realized and unrealized gains (losses) (the most comparable U.S. GAAP measure) to adjusted net realized and unrealized gains (losses) for the periods presented:
For the Three Months Ended
($ in millions, except per share amounts)
June 30, 2026
March 31, 2026
June 30, 2025
Amount
Per Share
Amount
Per Share
Amount
Per Share
Net realized and unrealized gains (losses)
$ (110)
$ (0.22)
$ (184)
$ (0.37)
$ (79)
$ (0.15)
Net change in unrealized (appreciation) depreciation due to the purchase discount
5
0.01
5
0.01
11
0.02
Realized gain (loss) due to the purchase discount(2)
1
—
1
—
—
—
Adjusted net realized and unrealized gains (losses)(1)
$ (105)
$ (0.21)
$ (177)
$ (0.36)
$ (68)
$ (0.13)
The following table provides a reconciliation of net increase (decrease) in net assets resulting from operations (the most comparable U.S. GAAP measure) to adjusted net increase (decrease) in net assets resulting from operations for the periods presented:
For the Three Months Ended
($ in millions, except per share amounts)
June 30, 2026
March 31, 2026
June 30, 2025
Amount
Per Share
Amount
Per Share
Amount
Per Share
Net increase (decrease) in net assets resulting from operations
$ 66
$ 0.13
$ (24)
$ (0.05)
$ 138
$ 0.27
Less: purchase discount amortization
(6)
(0.01)
(6)
(0.01)
(11)
(0.02)
Net change in unrealized (appreciation) depreciation due to the purchase discount
5
0.01
5
0.01
11
0.02
Realized gain (loss) due to the purchase discount(2)
1
—
1
—
—
—
Adjusted net increase (decrease) in net assets resulting from operations(1)
Blue Owl Technology Finance Corp. vykázala za 2. čtvrtletí GAAP čistý investiční výnos 0,30 USD na akcii a dividendu 0,40 USD na akcii. NAV na akcii zůstala téměř beze změny na 16,48 USD.
, /PRNewswire/ -- Blue Owl Technology Finance Corp. (NYSE: OTF) ("OTF" or the "Company") today announced financial results for its second quarter ended June 30, 2026.
SECOND QUARTER 2026 HIGHLIGHTS
Second quarter GAAP net investment income ("NII") per share of $0.30 Second quarter adjusted NII per share(1) increased to $0.30, as compared to the prior quarter of $0.29 Dividends totaled $0.40 per share, including a base dividend of $0.35 per share and a special dividend of $0.05 per share that was declared in connection with the listing, representing an annualized dividend yield of 9.7%(2) Net asset value ("NAV") per share was stable at $16.48, as compared to $16.49 as of March 31, 2026 New investment commitments were $852 million and sales and repayments were $222 million Net debt-to-equity ended at 0.93x, as compared with 0.85x as of March 31, 2026 Investments on non-accrual represented 0.6% and 0.1% of the portfolio at cost and fair value, respectively, as compared to 0.3% and 0.1% as of March 31, 2026 Repurchased $55 million of common stock during the quarter, which was accretive to NAV per share in the second quarter Enhanced funding flexibility through an amended and extended revolving credit facility with all banking partners renewing commitments, the issuance of $500 million of unsecured debt and the addition of $150 million through a secured financing On June 12, 2026, all remaining pre-listing share lock-ups expired, resulting in 100% of OTF's float being available for trading "OTF's second quarter stability reflected the strong credit quality of our portfolio, with non-accruals among the lowest in the industry and borrower fundamentals remaining strong," said Craig W. Packer, Chief Executive Officer. "Despite a challenging market backdrop, OTF enhanced the flexibility and diversification of its capital structure through an unsecured bond issuance, new secured financing, and the extension of its revolving credit facility."
"Today's market environment is increasingly supportive of ROE expansion over time, as spreads have widened and the rate outlook has improved. With leverage at the low end of our target range and more than $2 billion of available liquidity, OTF is well-positioned to deploy capital selectively across software and other technology-related areas where we have deep expertise and differentiated capabilities," added Erik Bissonnette, President.
Dividend Declarations
On August 4, 2026, the Board declared a third quarter 2026 base dividend of $0.35 per share for stockholders of record as of September 30, 2026, payable on or before October 15, 2026.
As previously announced, the Board also declared a series of five special dividends of $0.05 per share, with the final special dividend payable on October 6, 2026. A full schedule of the record and payment dates can be found on the Company's website at www.blueowltechnologyfinance.com.
(1)
Adjusted to exclude any change in capital gains incentive fees accrued but not paid. These fees are related to cumulative unrealized gains in excess of cumulative net realized gains less any cumulative unrealized losses, less capital gains incentive fees paid inception to date.
(2)
Dividend yield based on OTF's annualized Q2'26 base dividend of $0.35 per share payable to shareholders of record as of June 30, 2026 annualized Q2'26 special dividend of $0.05 per share payable to shareholders of record as of June 22, 2026, and Q2'26 NAV per share of $16.48.
SELECT FINANCIAL HIGHLIGHTS
As of and for the Three Months Ended
($ in thousands, except per share amounts)
June 30, 2026
March 31, 2026
June 30, 2025
GAAP results:
Net investment income per share
$ 0.30
$ 0.37
$ 0.34
Net realized and unrealized gains (losses) per share
$ 0.03
$ (0.84)
$ 0.09
Net increase (decrease) in net assets resulting from operations per share
$ 0.33
$ (0.47)
$ 0.43
Capital gains incentive fee expense (benefit) per share
$ —
$ (0.08)
$ 0.01
Non-GAAP financial measures(1)(2):
Adjusted net investment income per share
$ 0.30
$ 0.29
$ 0.36
Adjusted net increase (decrease) in net assets resulting from operations per share
$ 0.33
$ (0.56)
$ 0.45
Total investments at fair value
$ 14,680,538
$ 14,068,239
$ 12,728,642
Total debt outstanding (net of unamortized debt issuance costs)
$ 7,157,528
$ 6,904,332
$ 4,752,225
Net assets
$ 7,539,865
$ 7,605,453
$ 7,985,418
Net asset value per share
$ 16.48
$ 16.49
$ 17.17
Net debt-to-equity
0.93x
0.85x
0.58x
(1)
See Non-GAAP Financial Measures for a description of the non-GAAP measures and the reconciliations from the most comparable GAAP financial measures to the Company's non-GAAP measures, including on a per share basis. The Company's management utilizes these non-GAAP financial measures to internally analyze and assess financial results and performance. These measures are also considered useful by management as an additional resource for investors to evaluate the Company's ongoing results and trends, as well as its performance, excluding non-cash income and expenses. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.
(2)
Adjusted to exclude any change in capital gains incentive fees accrued but not payable. These fees are related to cumulative unrealized gains in excess of cumulative net realized gains less any cumulative unrealized losses, less capital gains incentive fees paid inception to date.
PORTFOLIO COMPOSITION
As of June 30, 2026, the Company had investments in 205 portfolio companies across 39 industries, with an aggregate portfolio size of $14.7 billion at fair value and an average investment size of $71.6 million at fair value.
June 30, 2026
March 31, 2026
($ in thousands)
Fair Value
% of Total
Fair Value
% of Total
Portfolio composition:
First-lien senior secured (1)
$ 11,444,661
77.8 %
$ 10,917,188
77.7 %
Second-lien senior secured
478,763
3.3 %
498,121
3.5 %
Specialty finance debt
40,774
0.3 %
38,000
0.3 %
Unsecured
464,478
3.2 %
456,403
3.2 %
Preferred equity
951,696
6.5 %
982,150
7.0 %
Common equity
747,669
5.1 %
615,910
4.4 %
Specialty finance equity
515,617
3.5 %
527,414
3.7 %
Joint ventures
36,880
0.3 %
33,053
0.2 %
Total investments
$ 14,680,538
100.0 %
$ 14,068,239
100.0 %
(1)
The Company considers 56% and 57% of first-lien senior secured debt investments to be unitranche loans as of June 30, 2026 and March 31, 2026, respectively.
June 30, 2026
March 31, 2026
Number of portfolio companies
205
203
Percentage of debt investments at floating rates
96.7 %
96.1 %
Percentage of senior secured debt investments
81.4 %
81.5 %
Weighted average spread over base rate of floating rate debt investments
5.3 %
5.3 %
Weighted average total yield of accruing debt and income-producing securities at fair value
9.6 %
9.5 %
Weighted average total yield of accruing debt and income-producing securities at cost
9.3 %
9.2 %
Percentage of investments on non-accrual of the portfolio at fair value
0.1 %
0.1 %
PORTFOLIO AND INVESTMENT ACTIVITY
For the three months ended June 30, 2026, new investment commitments totaled $0.9 billion across 6 new portfolio companies and 7 existing portfolio companies. For the three months ended March 31, 2026, new investment commitments were $1.7 billion across 14 new portfolio companies and 12 existing portfolio companies.
For the three months ended June 30, 2026, the principal amount of new investments funded totaled $0.6 billion and aggregate principal amount of sales and repayments was $0.2 billion. For the three months ended March 31, 2026, the principal amount of new investments funded totaled $1.3 billion and aggregate principal amount of sales and repayments was $1.1 billion.
For the Three Months Ended June 30,
($ in thousands)
2026
2025
New investment commitments:
Gross originations
$ 864,056
$ 1,473,048
Less: Sell downs
(12,500)
—
Total new investment commitments
$ 851,556
$ 1,473,048
Principal amount of new investments funded:
First-lien senior secured debt investments
$ 510,968
$ 976,328
Second-lien senior secured debt investments
—
130,219
Unsecured debt investments
—
—
Specialty finance debt investments
—
2,336
Preferred equity investments
—
32,375
Common equity investments
30,667
1,807
Specialty finance equity investments
4,989
43,387
Joint venture investments
4,719
8,124
Total principal amount of new investments funded
$ 551,343
$ 1,194,576
Drawdowns (repayments) on revolvers and delayed draw term loans, net
$ 148,515
$ 84,243
Principal amount of investments sold or repaid:
First-lien senior secured debt investments(1)
$ (164,447)
$ (604,750)
Second-lien senior secured debt investments
—
(101,007)
Unsecured debt investments
(2,389)
(30,661)
Specialty finance debt investments
—
—
Preferred equity investments
(25,020)
(7,616)
Common equity investments
(9,997)
(7,148)
Specialty finance equity investments
(20,494)
(5,089)
Joint venture investments
—
—
Total principal amount of investments sold or repaid
$ (222,347)
$ (756,271)
Number of new investment commitments in new portfolio companies(2)
6
9
Average new investment commitment amount in new portfolio companies
$ 111,258
$ 84,276
Weighted average term for new investment commitments (in years)
6.5
6.0
Percentage of new debt investment commitments at
floating rates
100.0 %
99.9 %
Percentage of new debt investment commitments at
fixed rates
— %
0.1 %
Weighted average interest rate of new investment commitments(3)
9.0 %
9.8 %
Weighted average spread over applicable base rate of new debt investment commitments at floating rates
5.3 %
5.5 %
(1)
Includes scheduled paydowns.
(2)
Number of new investment commitments represents commitments to a particular portfolio company.
(3)
Assumes each floating rate commitment is subject to the greater of the interest rate floor (if applicable) or 3-month SOFR, which was 3.73% and 4.29% as of June 30, 2026 and 2025, respectively.
RESULTS OF OPERATIONS FOR THE SECOND QUARTER ENDED JUNE 30, 2026
Investment Income
Investment income modestly increased to $338 million for the three months ended June 30, 2026 from $326 million for the three months ended March 31, 2026, primarily driven by net portfolio growth and higher dividend income related to a repayment. Other income remained relatively consistent period-over-period. The Company expects that investment income will vary based on a variety of factors including the pace of originations and repayments, spreads of new deployments, and base rate movements.
Expenses
Total operating expenses increased to $199 million for the three months ended June 30, 2026 from $153 million for the three months ended March 31, 2026, primarily due to the absence of the prior quarter's capital gains incentive fee reversal and to modestly higher interest expense, as average daily borrowings increased. As a percentage of total assets, professional fees, directors' fees and other general and administrative expenses remained relatively consistent period-over-period.
Liquidity and Capital Resources
As of June 30, 2026, the Company had $214 million in cash, $7.3 billion in total principal value of debt outstanding, including $2.6 billion of unsecured notes and $1.8 billion of undrawn capacity(1) on the Company's credit facilities. The funding mix was composed of 63.8% secured and 36.2% unsecured borrowings as of June 30, 2026 on an outstanding basis. The Company was in compliance with all financial covenants under its credit facilities as of June 30, 2026. The Company has analyzed cash and cash equivalents, availability under its credit facilities, the ability to rotate out of certain assets and amounts of unfunded commitments that could be drawn and believes its liquidity and capital resources are sufficient to take advantage of market opportunities.
(1)
Reflects undrawn debt, which is based on committed debt less debt outstanding as of 6/30/2026, and may not reflect the amount currently available due to borrowing base restrictions.
CONFERENCE CALL AND WEBCAST INFORMATION
Conference Call Information:
The conference call will be broadcast live on August 6, 2026 at 11:30 a.m. Eastern Time on the News & Events section of OTF's website at www.blueowltechnologyfinance.com. Please visit the website to test your connection before the webcast. To pre-register for the call, please use the following link: www.blueowltechnologyfinance.com/webcast-registration?event_id=16145. Please visit the website before the webcast to test your connection.
Participants are also invited to access the conference call by dialing one of the following numbers:
Domestic: (877) 407-8629 International: +1 (201) 493-6715 All callers will need to reference "Blue Owl Technology Finance Corp." once connected with the operator. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected.
Replay Information:
An archived replay will be available via a webcast link located on the News & Events section of OTF's website for one year, and via the dial-in numbers listed below for 14 days:
Domestic: (877) 660-6853 International: +1 (201) 612-7415 Access ID: 13761130 ABOUT BLUE OWL TECHNOLOGY FINANCE CORP.
Blue Owl Technology Finance Corp. (NYSE: OTF) is a specialty finance company focused on making debt and equity investments to U.S. technology-related companies, with a strategic focus on software. As of June 30, 2026, OTF had investments in 205 portfolio companies with an aggregate fair value of $14.7 billion. OTF has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. OTF is externally managed by Blue Owl Technology Credit Advisors LLC, an SEC-registered investment adviser that is an indirect affiliate of Blue Owl Capital Inc. ("Blue Owl") (NYSE: OWL) and part of Blue Owl's Credit platform.
Certain information contained herein may constitute "forward-looking statements" that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about OTF, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as "anticipates," "expects," "intends," "plans," "will," "may," "continue," "believes," "seeks," "estimates," "would," "could," "should," "targets," "projects," "outlook," "potential," "predicts" and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond OTF's control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in OTF's filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which OTF makes them. OTF does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.
INVESTOR CONTACTS
Investor Contact:
BDC Investor Relations
Michael Mosticchio
[email protected]
Media Contact:
Head of Communications
Andrew Williams
[email protected]
FINANCIAL HIGHLIGHTS
For the Three Months Ended
($ in thousands, except per share amounts)
June 30, 2026
March 31, 2026
June 30, 2025
Investments at fair value
$ 14,680,538
$ 14,068,239
$ 12,728,642
Total assets
$ 15,054,901
$ 14,868,606
$ 13,042,932
Net asset value per share
$ 16.48
$ 16.49
$ 17.17
GAAP results:
Total investment income
$ 338,032
$ 325,940
$ 319,467
Net investment income
$ 138,644
$ 171,311
$ 160,371
Net increase (decrease) in net assets resulting from operations
$ 154,222
$ (219,891)
$ 201,487
Capital gains incentive fee expense (benefit) per share
$ —
$ (0.08)
$ 0.01
GAAP per share results:
Net investment income
$ 0.30
$ 0.37
$ 0.34
Net realized and unrealized gains (losses)
$ 0.03
$ (0.84)
$ 0.09
Net increase (decrease) in net assets resulting from operations(1)
$ 0.33
$ (0.47)
$ 0.43
Capital gains incentive fee expense (benefit) per share
$ —
$ (0.08)
$ 0.01
Non-GAAP per share financial measures(2)(3):
Adjusted net investment income
$ 0.30
$ 0.29
$ 0.36
Adjusted net increase (decrease) in net assets resulting from operations
$ 0.33
$ (0.56)
$ 0.45
Weighted average yield of accruing debt and income producing securities at fair value
9.6 %
9.5 %
10.4 %
Weighted average yield of accruing debt and income producing securities at amortized cost
9.3 %
9.2 %
10.4 %
Percentage of debt investments at floating rates
96.7 %
96.1 %
97.3 %
(1)
Totals may not sum due to rounding
(2)
See Non-GAAP Financial Measures for a description of the non-GAAP measures and the reconciliations from the most comparable GAAP financial measures to the Company's non-GAAP measures, including on a per share basis. The Company's management utilizes these non-GAAP financial measures to internally analyze and assess financial results and performance. These measures are also considered useful by management as an additional resource for investors to evaluate the Company's ongoing results and trends, as well as its performance, excluding non-cash income and expenses. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.
(3)
Adjusted to exclude any change in capital gains incentive fees accrued but not payable. These fees are related to cumulative unrealized gains in excess of cumulative net realized gains less any cumulative unrealized losses, less capital gains incentive fees paid inception to date.
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
(Amounts in thousands, except share and per share amounts)
As of June 30, 2026
(Unaudited)
As of December 31,
2025
Assets
Investments at fair value
Non-controlled, non-affiliated investments (amortized cost of $13,997,430 and $13,262,010, respectively)
$ 13,643,875
$ 13,363,077
Non-controlled, affiliated investments (amortized cost of $854,843 and $736,415, respectively)
728,216
692,202
Controlled, affiliated investments (amortized cost of $150,520 and $128,788, respectively)
308,447
230,760
Total investments at fair value (amortized cost of $15,002,793 and $14,127,213, respectively)
14,680,538
14,286,039
Cash (restricted cash of $— and $—, respectively)
210,276
282,257
Foreign cash (cost of $3,435 and $709, respectively)
3,230
667
Interest and dividend receivable
114,967
88,553
Receivable from a controlled affiliate
897
720
Prepaid expenses and other assets
44,993
56,775
Total Assets
$ 15,054,901
$ 14,715,011
Liabilities
Debt (net of unamortized debt issuance costs of $95,067 and $84,123, respectively)
$ 7,157,528
$ 6,288,200
Distribution payable
183,068
185,749
Management fee payable
53,949
48,556
Incentive fee payable
29,316
68,085
Payables to affiliates
—
64
Payable for investments purchased
1,558
3,006
Accrued expenses and other liabilities
89,617
79,753
Total Liabilities
$ 7,515,036
$ 6,673,413
Commitments and contingencies (Note 8)
Net Assets
Common shares $0.01 par value, 1,000,000,000 shares authorized; 457,612,537 and
464,047,623 shares issued and outstanding, respectively
$ 4,576
$ 4,640
Additional paid-in-capital
7,477,530
7,573,712
Total accumulated undistributed earnings
57,759
463,246
Total Net Assets
7,539,865
8,041,598
Total Liabilities and Net Assets
$ 15,054,901
$ 14,715,011
Net Asset Value Per Share
$ 16.48
$ 17.33
(1)
Refer to 10-Q Note 8 "Commitments and Contingencies".
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except share and per share amounts)
For the Three Months Ended
June 30,
For the Six Months Ended
June 30,
2026
2025
2026
2025
Investment Income
Investment income from non-controlled, non-affiliated investments:
Interest income
$ 273,492
$ 264,998
$ 541,814
$ 408,356
Payment-in-kind ("PIK") interest income
24,969
22,648
49,026
37,929
Dividend income
453
539
978
539
PIK dividend income
13,657
15,455
28,001
23,855
Other income
4,167
4,105
7,343
8,744
Total investment income from non-controlled, non-affiliated investments
316,738
307,745
627,162
479,423
Investment income from non-controlled, affiliated investments:
Interest income
1,641
1,612
2,670
2,233
PIK interest income
255
955
1,033
2,131
Dividend income
15,073
5,866
24,700
12,019
PIK dividend income
3,405
3,119
6,772
6,202
Other income
23
32
45
83
Total investment income from non-controlled, affiliated investments
20,397
11,584
35,220
22,668
Investment income from controlled, affiliated investments:
Dividend income
897
138
1,590
193
Total investment income from controlled, affiliated investments
897
138
1,590
193
Total Investment Income
338,032
319,467
663,972
502,284
Operating Expenses
Interest expense
$ 108,791
$ 87,327
$ 212,616
$ 139,013
Management fees, net(1)
53,948
32,540
107,861
48,416
Performance based incentive fees
29,316
28,052
18,631
37,493
Professional fees
3,090
2,841
5,831
6,209
Listing advisory fees
—
4,821
—
4,821
Directors' fees
420
314
694
573
Other general and administrative
3,401
3,055
6,687
4,558
Total Operating Expenses
198,966
158,950
352,320
241,083
Net Investment Income (Loss) Before Taxes
139,066
160,517
311,652
261,201
Income tax expense (benefit), including excise tax expense (benefit)
422
146
1,697
3,498
Net Investment Income (Loss) After Taxes
138,644
160,371
309,955
257,703
Net Realized and Change in Unrealized Gain (Loss)
Net change in unrealized gain (loss):
Non-controlled, non-affiliated investments
$ 11,954
$ 19,330
$ (436,630)
$ (655)
Non-controlled, affiliated investments
(38,635)
19,194
(82,410)
18,435
Controlled, affiliated investments
54,299
14,684
55,955
14,686
Translation of assets and liabilities in foreign currencies and other transactions
7,102
24,894
3,443
25,968
Income tax (provision) benefit
—
(48)
79
(843)
Total Net Change in Unrealized Gain (Loss)
34,720
78,054
(459,563)
57,591
Net realized gain (loss):
Non-controlled, non-affiliated investments
$ (14,349)
$ (12,106)
$ 109,474
$ (10,259)
Non-controlled, affiliated investments
(2,020)
—
(25,176)
—
Foreign currency transactions
(2,773)
(24,832)
(359)
(25,416)
Total Net Realized Gain (Loss)
(19,142)
(36,938)
83,939
(35,675)
Total Net Realized and Change in Unrealized Gain (Loss)
$ 15,578
$ 41,116
(375,624)
21,916
Net Increase (Decrease) in Net Assets Resulting from Operations
$ 154,222
$ 201,487
$ (65,669)
$ 279,619
Earnings Per Share - Basic and Diluted
$ 0.33
$ 0.43
$ (0.14)
$ 0.80
Weighted Average Shares Outstanding - Basic and Diluted
460,878,695
465,124,070
462,563,216
350,872,326
Refer to "Note 3 — Agreements and Related Party Transactions" for additional details on management fee waiver.
NON-GAAP FINANCIAL MEASURES
On a supplemental basis, the Company is disclosing certain adjusted financial measures, each of which is calculated and presented on a basis of methodology other than in accordance with GAAP ("non-GAAP"). The Company's management utilizes these non-GAAP financial measures to internally analyze and assess financial results and performance. These measures are also considered useful by management as an additional resource for investors to evaluate the Company's ongoing results and trends, as well as its performance, excluding non-cash income and expenses. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.
"Adjusted Net Investment Income" and "Adjusted Net Investment Income Per Share": represent net investment income, excluding any change in capital gains incentive fees accrued but not payable. These fees are related to cumulative unrealized gains in excess of cumulative net realized gains less any cumulative unrealized losses, less capital gains incentive fees paid inception to date. "Adjusted Net Increase (Decrease) in Net Assets Resulting from Operations" and "Adjusted Net Increase (Decrease) in Net Assets Resulting from Operations Per Share": represent net income, excluding any change in capital gains incentive fees accrued but not payable. The following table provides a reconciliation of net investment income (the most comparable U.S. GAAP measure) to adjusted net investment income for the periods presented:
For the Three Months Ended
($ in millions, except per share amounts)
June 30, 2026
March 31, 2026
June 30, 2025
Amount
Per Share
Amount
Per Share
Amount
Per Share
Net investment income
$ 139
$ 0.30
$ 171
$ 0.37
$ 160
$ 0.34
Plus: Change in capital gains incentive fees accrued but not payable
—
—
(39)
(0.08)
6
0.01
Adjusted net investment income(1)
$ 139
$ 0.30
$ 133
$ 0.29
$ 167
$ 0.36
The following table provides a reconciliation of net increase (decrease) in net assets resulting from operations (the most comparable U.S. GAAP measure, or net income) to adjusted net increase (decrease) in net assets resulting from operations (or adjusted net income) for the periods presented:
For the Three Months Ended
($ in millions, except per share amounts)
June 30, 2026
March 31, 2026
June 30, 2025
Amount
Per Share
Amount
Per Share
Amount
Per Share
Net increase (decrease) in net assets resulting from operations
$ 154
$ 0.33
$ (220)
$ (0.47)
$ 201
$ 0.43
Plus: Change in capital gains incentive fees accrued but not payable
—
—
(39)
(0.08)
6
0.01
Adjusted net increase (decrease) in net assets resulting from operations(1)
Blue Owl uzavřela svůj první evropský net lease fond s kapitálovými závazky přesahujícími 1,6 miliardy EUR. Fond překonal původní cíl 1,0 miliardy EUR i hard cap 1,5 miliardy EUR.
, /PRNewswire/ -- Blue Owl Capital Inc. ("Blue Owl") (NYSE: OWL), a leading alternative asset manager, announced today the final close of its inaugural European net lease fund, Blue Owl Real Estate European Net Lease Fund ("OREF Europe") with €1.6 billion of total capital commitments. OREF Europe exceeded the original target of €1.0 billion and its previous hard cap of €1.5 billion.
OREF Europe is focused on acquiring and owning single-tenant net leased real estate and infrastructure assets, mission-critical to the operations of blue-chip, investment-grade tenants. The fund launches into a European net lease market that Blue Owl believes remains structurally underserved, leaving significant room to deploy capital, particularly for single-tenant, mission-critical industrial, data center, and essential retail assets.
Marc Zahr, Co-President and Global Head of Real Assets at Blue Owl said, "We believe Europe represents the next frontier for institutional sale-leasebacks. Having successfully executed this strategy targeting investment grade corporations across the U.S., we are applying the same disciplined approach to a European market which represents an estimated €13.4 trillion opportunity, where we believe many of these companies can unlock substantial value by monetizing owned real estate and reinvesting that capital into more accretive uses across their business."
OREF Europe extends Blue Owl's market-leading net lease franchise to Europe. The strategy seeks to apply the same disciplined playbook in Europe to deliver predictable, long-term income for investors and operational efficiency for tenants. The strategy has already assembled a deep, near-term pipeline diversified across geography and sector, spanning the United Kingdom and continental Europe across industrial and logistics, essential retail, healthcare, life sciences, cold storage, and corporate headquarters.
Commitments to OREF Europe were secured from a broad mix of existing and leading institutional investors, including public and private pensions, insurance companies, sovereign wealth funds, asset managers, endowments and foundations, and family offices in the United States and across Europe, APAC, and the Middle East.
Blue Owl is one of the world's leading alternative asset managers, with $319 billion in assets under management across Credit, Real Assets, and GP Strategic Capital. Blue Owl's net lease strategy is part of Blue Owl's Real Assets platform and focuses on investing in free-standing single-tenant net-leased real estate and infrastructure assets. As of June 30, 2026, the Real Assets platform has raised $8.48 billion of capital this year, investing across North America and Europe.
In the 2025 Private Equity Real Estate (PERE) Awards, Blue Owl was named PERE's Global Net Lease Investor of the Year, Global Data Center Investor of the Year, and Global Retail Investor of the Year and has been ranked #2 on the 2026 PERE 100 for real estate fundraisers globally. The Real Assets platform, launched in 2021, has raised more money over the past five years than nearly every other real estate manager globally.
Investor Contact
Ann Dai
Head of Investor Relations
[email protected]
Media Contact
[email protected]
Forward Looking Statements
Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "would," "should," "future," "propose," "target," "goal," "objective," "outlook" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Any such forward-looking statements are made pursuant to the safe harbor provisions available under applicable securities laws and speak only as of the date made. Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law.
These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blue Owl's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.
Important factors, among others, that may affect actual results or outcomes include the inability to recognize the anticipated benefits of strategic acquisitions; costs related to acquisitions; the inability to maintain the listing of Blue Owl's shares on the New York Stock Exchange; Blue Owl's ability to manage growth; Blue Owl's ability to execute its business plan and meet its projections; potential litigation involving Blue Owl; changes in applicable laws or regulations; and the possibility that Blue Owl may be adversely affected by other economic, business, geo-political and competitive factors.
Accolades & Awards Disclosure
Accolades are independently determined and awarded by their respective publications. Accolades can be based on a variety of criteria including recognition by peers, strategy innovation, growth of assets under management, length of service, client satisfaction, type of clientele and more. Neither Blue Owl nor its employees pay a fee in exchange for these ratings. Specific award selection methodology is available upon request.
Blue Owl Capital Inc. (OWL - Free Report) came out with quarterly earnings of $0.22 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.21 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this company would post earnings of $0.19 per share when it actually produced earnings of $0.19, delivering no surprise.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Blue Owl Capital, which belongs to the Zacks Financial - Investment Management industry, posted revenues of $693.56 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.12%. This compares to year-ago revenues of $646.05 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Blue Owl Capital shares have lost about 36.1% since the beginning of the year versus the S&P 500's gain of 6.9%.
What's Next for Blue Owl Capital?While Blue Owl Capital has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Blue Owl Capital was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.23 on $709.15 million in revenues for the coming quarter and $0.87 on $2.83 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Investment Management is currently in the top 23% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, PennantPark (PFLT - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 10.
This investment company is expected to post quarterly earnings of $0.27 per share in its upcoming report, which represents a year-over-year change of +8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
PennantPark's revenues are expected to be $67.51 million, up 6.3% from the year-ago quarter.
SummaryBlue Owl Capital is downgraded to Hold due to deteriorating dividend coverage and NAV pressure.OBDC's recent dividend cut restores coverage to 100% but offers no margin of safety and risks further reductions.Portfolio quality remains solid, with stable non-accruals and improved internal performance ratings, especially in software exposure.Despite a 25% discount to NAV, weak capital gathering and earnings power limit prospects for multiple expansion or near-term upside. KanawatTH/iStock via Getty Images
Blue Owl Capital (OBDC) disappointed me. The last time I covered it, I declared it a buy. Unfortunately, I've watched its stock price drop by over 23% in just 1 year. Even with dividends included, I'm looking
5.33K Followers
Analyst’s Disclosure: I/we have a beneficial long position in the shares of OBDC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
The information, opinions, and thoughts included in this article do not constitute an investment recommendation or any form of investment advice.
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Blue Owl Capital oznámila za 2. čtvrtletí AUM ve výši 319 miliard USD, což je pětinásobek oproti době uvedení na burzu před pěti lety. Zároveň vyhlásila čtvrtletní dividendu ve výši 0,23 USD na třídu A.
, /PRNewswire/ -- Blue Owl Capital Inc. (NYSE:OWL) ("Blue Owl") today reported its financial results for the second quarter ended June 30, 2026.
"Blue Owl's ongoing growth in the second quarter reflects the strong investment performance we continue to generate across strategies and the diversification of our business across platforms and geographies. We reached $319 billion of AUM, a five-fold increase since our listing five years ago, and we think our success to date has been a result of our focus on creating outstanding outcomes for the investors in our strategies," said Doug Ostrover and Marc Lipschultz, Co-CEOs of Blue Owl. "The results we reported this morning continue to demonstrate the resilience of our business and highlight our positioning as a key provider of scaled capital solutions in this evolving market landscape."
Blue Owl issued its full detailed presentation of its second quarter ended June 30, 2026 results, which can be viewed through the Shareholders section of Blue Owl's website at https://ir.blueowl.com/Investors/events-and-presentations.
Dividend
Blue Owl declared a quarterly dividend of $0.23 per Class A Share, payable on August 27, 2026, to shareholders of record at the close of business on August 13, 2026.
Quarterly Investor Call Details:
Blue Owl will host its second quarter 2026 investor call via public webcast on July 30, 2026 at 10:00 a.m. ET. To register, please visit the Shareholders section of Blue Owl's website at https://ir.blueowl.com/overview.
The conference call may be accessed by dialing +1 (888) 330-2454 (U.S. callers) or +1 (240) 789-2714 (non-U.S. callers); conference ID 4153114. For those unable to listen to the live broadcast, there will be a webcast replay available on the Shareholders section of Blue Owl's website.
All callers will need to enter the Conference ID followed by the # sign and reference "Blue Owl Capital" once connected with the operator. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected.
About Blue Owl
Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®. With $319 billion in assets under management as of June 30, 2026, we invest across three multi-strategy platforms: Credit, Real Assets and GP Strategic Capital. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.
Together with over 1,380 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com or LinkedIn: https://www.linkedin.com/company/blue-owl-capital.
Forward-Looking Statements
Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "would," "should," "future," "propose," "target," "goal," "objective," "outlook" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Any such forward-looking statements are made pursuant to the safe harbor provisions available under applicable securities laws and speak only as of the date made. Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law.
These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blue Owl's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.
Important factors, among others, that may affect actual results or outcomes include the inability to recognize the anticipated benefits of acquisitions; costs related to acquisitions; the inability to maintain the listing of Blue Owl's shares on the New York Stock Exchange; Blue Owl's ability to manage growth; Blue Owl's ability to execute its business plan and meet its projections; potential litigation involving Blue Owl; changes in applicable laws or regulations; and the possibility that Blue Owl may be adversely affected by other economic, business, geopolitical and competitive factors.
Investor Contact
Ann Dai
Head of Investor Relations
[email protected]
Blue Owl Capital a Moor Park dokončily akvizici portfolia 12 akutních nemocnic provozovaných Spire Healthcare Group ve Velké Británii. Transakce byla financována novým zajištěným termínovým úvěrem.
, /PRNewswire/ -- Blue Owl Capital Inc. ("Blue Owl") (NYSE: OWL), a leading alternative asset manager, today announced that funds managed by Blue Owl, together with Moor Park Capital Partners ("Moor Park"), have successfully completed the acquisition of a portfolio of 12 acute-care hospitals operated by Spire Healthcare Group plc, the UK's leading private hospital operator.
"The acquisition of the Spire portfolio represents a strategic investment in a portfolio of high-quality UK private hospitals with a market leading tenant, well-structured long-term leases and significantly accelerates the expansion of our European Net Lease strategy," said Marc Zahr, Co-President and Global Head of Real Assets at Blue Owl. "This transaction builds on the firm's experience investing across the healthcare landscape and represents an opportunity to capitalize on the strong supply and demand fundamentals in the European healthcare real estate sector while delivering what we believe to be compelling value for investors and the communities these facilities serve."
The completion of the transaction marks an important milestone for Blue Owl's Real Assets platform and reflects the firm's continued focus on expanding its presence across essential real estate sectors. As part of Blue Owl's Real Assets platform, the Spire portfolio will benefit from the firm's institutional scale, investment expertise and long-standing relationships across the real estate market, creating a strong foundation for continued growth and long-term value creation.
Blue Owl and Moor Park see tremendous opportunity for further growth in the European healthcare sector and will continue to pursue opportunities in the space offering compelling risk-adjusted returns.
The acquisition was financed by a new secured term loan, with Standard Chartered Bank, Natixis and Crédit Agricole CIB acting as joint Mandated Lead Arrangers and lenders to the transaction.
Advisors
Rothschild & Co served as Blue Owl's exclusive financial advisor. Kirkland & Ellis and Hogan Lovells served as Blue Owl's legal counsel. Deloitte served as Blue Owl's tax and financial due diligence advisors.
About Blue Owl
Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®. With $315 billion in assets under management as of March 31, 2026, we invest across three multi-strategy platforms: Credit, Real Assets and GP Strategic Capital. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.
Together with over 1,390 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com or LinkedIn: https://www.linkedin.com/company/blue-owl-capital.
About Moor Park Capital Partners
Moor Park Capital Partners, founded by Gary Wilder, Shemeel Khan and Jagdeep Kapoor, is a specialist international real estate private equity investment and asset management firm focused on acquiring, financing, developing and managing high-quality operational real estate across healthcare, living, hospitality, logistics, data centres, retail, offices, bank branches, car parks, leisure, service stations and other alternative real estate sectors.
Established more than twenty years ago, the firm has built an internationally recognised reputation for identifying, structuring, financing and executing highly complex, frequently proprietary real estate transactions that are often inaccessible through traditional market channels.
Across their careers, Moor Park's management team has successfully executed transactions with an aggregate value exceeding €26 billion on behalf of sovereign wealth funds, pension funds, insurance companies, managed accounts and other leading global institutional investors, consistently delivering strong long-term investment performance through disciplined investment, active asset management and innovative capital solutions.
Investor Contact
Ann Dai
Head of Investor Relations
[email protected]
Blue Owl ve 2. čtvrtletí zaznamenal nižší žádosti o odkupy z klíčových private-credit fondů, což naznačuje ústup tlaku na odkupy. Akcie OWL v reakci vzrostly téměř o 5 %.
Investors sought to withdraw less money from two of Blue Owl Capital's flagship private-credit funds in the second quarter, providing early signs that redemption pressures across the sector may be beginning to moderate after months of elevated withdrawals.
The New York-based alternative asset manager said investors requested withdrawals totaling $4.7 billion during the quarter, down from $5.4 billion in the previous three months.
The easing in withdrawal requests was welcomed by investors, with Blue Owl OWL shares rising by nearly 5% in Thursday trading.
The figures come as private-credit managers continue to grapple with heightened redemption activity following several high-profile borrower defaults last year that sparked concerns over the health of private-credit portfolios.
Blue Owl's stock has fallen by over 40% this year.
Redemptions remain above payout limitsWithdrawal requests declined across both of Blue Owl's largest non-traded business development companies, though they remained substantially above the quarterly redemption limits built into the funds.
At the $33.8 billion Blue Owl Credit Income Corp (OCIC), investors requested to redeem 18.8% of outstanding shares during the quarter, down from 21.9% in the first quarter.
The firm's technology-focused Blue Owl Technology Income Corp (OTIC), which manages $4.9 billion in assets, also recorded lower withdrawal requests.
Investors sought to redeem 38.1% of shares during the quarter compared with 40.7% in the previous period.
Like many non-traded private-credit vehicles, both funds limit quarterly repurchases to 5% of outstanding shares.
The mechanism is designed to avoid forcing managers to sell relatively illiquid corporate loans to meet investor withdrawals.
Blue Owl said roughly 90% of investors in OCIC remained invested, while the group of shareholders requesting redemptions was largely unchanged from previous quarters, with little participation from new investors.
Although redemption requests remain elevated, analysts believe recent trends suggest withdrawal activity may be nearing its peak.
Market participants still expect requests to stay above the 5% quarterly threshold for several more quarters, but some Wall Street analysts argue that the gradual moderation seen in the second quarter points to improving investor confidence.
"We believe OCIC's strong performance over the past three months has reflected the quality of portfolio fundamentals and contributed to improved investor sentiment," Blue Owl executives Craig Packer and Logan Nicholson said in a letter to shareholders.
The firm also said borrower fundamentals remained healthy, adding that "credit quality remained resilient," supported by solid operating performance across its portfolio companies.
Blue Owl said it was encouraged by the modest quarter-over-quarter decline in tender requests, attributing the improvement partly to the funds' recent performance.
Private credit remains under scrutinyBlue Owl has become one of the industry's most closely watched firms because it was among the earliest alternative asset managers to successfully market private-credit products to wealthy individual investors.
That strategy helped the firm rapidly expand assets under management to roughly $300 billion, but it has also made the company particularly exposed to swings in retail investor sentiment.
Persistent redemption requests have raised concerns that slower asset growth and capped withdrawals could weigh on fee income if investor demand remains subdued.
Pressure has not been limited to Blue Owl.
Several large private-credit managers, including Ares Management, Blackstone and BlackRock, have also experienced higher redemption activity in recent quarters, weighing on their share prices.
Investor concerns intensified in late June after withdrawals from a major Apollo Global Management private-credit fund climbed to 17% of assets from 11% in the previous quarter.
Executives across the industry have maintained that concerns surrounding private credit are exaggerated, though many acknowledge that elevated redemption activity is likely to continue in the near term.
Blue Owl said its largest credit fund remains well positioned to meet future redemption requests.
The company reported that OCIC holds $11.6 billion in cash, cash equivalents and available borrowing capacity, enough to fund approximately 12 quarters of payouts at the current 5% quarterly redemption limit.
While withdrawal requests remain well above the level funds are willing to meet each quarter, the latest figures suggest investors may be becoming more comfortable with private-credit portfolios after a turbulent period for the industry.
Blue Owl Capital dokončil akvizici společnosti Sila Realty Trust; akcionáři Sila obdrželi 30,38 USD za akcii v hotovosti. Akcie Sila byly staženy z burzy NYSE.
, /PRNewswire/ -- Blue Owl Capital Inc. ("Blue Owl") (NYSE: OWL), a leading alternative asset manager, today announced that funds managed by Blue Owl have successfully completed the previously announced acquisition of Sila Realty Trust, Inc. ("Sila" or "the Company"), a net lease real estate investment trust with a strategic focus on investing in the growing and resilient healthcare sector.
"The acquisition of Sila and its differentiated, scaled portfolio of high-quality healthcare assets with strong tenants and well-structured long-term leases will further expand Blue Owl's core net lease strategy," said Marc Zahr, Co-President and Global Head of Real Assets at Blue Owl. "This transaction builds on the firm's experience investing across the healthcare landscape and represents an opportunity to capitalize on the strong supply and demand fundamentals in the healthcare real estate sector while delivering compelling value for investors and the communities these facilities serve."
At Sila's Special Meeting of Stockholders held on June 26, 2026, more than 98% of votes were cast in favor of approving the merger agreement. Upon closing of the transaction, Sila's common stock ceased trading and will be delisted from the New York Stock Exchange, and Sila's common stockholders received $30.38 per share in cash, representing an approximately 19% premium over the closing share price on April 17, 2026, the last full trading day prior to the transaction announcement.
The completion of the transaction marks an important milestone for Blue Owl's Real Assets platform and reflects the firm's continued focus on expanding its presence across essential real estate sectors. As part of Blue Owl's Real Assets platform, the Sila portfolio will benefit from the firm's institutional scale, investment expertise and long-standing relationships across the real estate market, creating a strong foundation for continued growth and long-term value creation.
Advisors
BofA Securities served as Sila's exclusive financial advisor. Hogan Lovells US LLP served as the Company's legal counsel.
Citigroup Global Markets Inc. acted as lead financial advisor to Blue Owl and Truist Securities, Inc. also acted as financial advisor and Newmark Group, Inc. served as real estate advisor. Kirkland & Ellis LLP served as legal advisor to Blue Owl. Dechert LLP served as legal advisor to Citigroup Global Markets Inc. and Truist Securities, Inc.
About Blue Owl
Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®. With $315 billion in assets under management as of March 31, 2026, we invest across three multi-strategy platforms: Credit, Real Assets and GP Strategic Capital. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.
Together with over 1,390 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com or LinkedIn: https://www.linkedin.com/company/blue-owl-capital.
About Sila Realty Trust, Inc.
Sila Realty Trust, Inc., headquartered in Tampa, Florida, is a net lease real estate investment trust with a strategic focus on investing in the growing and resilient healthcare sector. The Company invests in high quality healthcare facilities along the continuum of care in the pursuit of generating predictable, durable, and growing income streams. Sila's portfolio comprises high quality tenants in geographically diverse facilities, which are positioned to capitalize on the dynamic delivery of healthcare to patients. As of March 31, 2026, the Company owned 137 real estate properties and three undeveloped land parcels, located in 65 markets across the United States.
Investor Contact
Ann Dai
Head of Investor Relations
[email protected]
Miles Callahan, Senior Vice President – Acquisitions, Capital Markets, Research & Credit
833-404-4107
[email protected]
, /PRNewswire/ -- Blue Owl Capital Inc. (NYSE: OWL) ("Blue Owl") today announced it will release its financial results for the second quarter ended June 30, 2026 on Thursday, July 30, 2026 before market open. Blue Owl invites all interested persons to its webcast / conference call at 10 a.m. Eastern Time to discuss its results.
Conference Call Information:
The conference call will be broadcast live on the Shareholders section of Blue Owl's website at www.blueowl.com.
Participants are also invited to access the conference call by dialing one of the following numbers:
Domestic (Toll Free): +1 (888) 330-2454
International: +1 (240) 789-2714
Conference ID: 4153114
All callers will need to enter the Conference ID followed by the # sign and reference "Blue Owl Capital" once connected with the operator. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected.
Replay Information:
An archived replay will be available via a webcast link located on the Shareholders section of Blue Owl's website.
About Blue Owl Capital Inc.
Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®.
With $315 billion in assets under management as of March 31, 2026, we invest across three multi-strategy platforms: Credit, Real Assets, and GP Strategic Capital. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.
Together with over 1,390 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.
Investor Contact
Ann Dai
Head of Investor Relations
[email protected]
