BLUE OWL CAPITAL (OWL) Company Report

Blue Owl Capital executives and employees purchased over $200 million in stock, including $70 million in Class A common stock, with CEO Marc S. Lipschultz acquiring $2.38 million in early December.
The company scrapped a planned fund merger and is authorized to repurchase up to $200 million of its common stock to enhance shareholder value.
Blue Owl also made a $40 million growth investment in Coremont to improve portfolio management software and AI capabilities.
Analyst ratings are mixed, ranging from Hold to Strong Buy with price targets between $14 and $28, while the company faces challenges such as high leverage and fluctuating cash flow.

2 days ago

Bloomberg

OWL Executives Discuss Business Evolution and Market Strategy

OWL

New Projects/Investments

Revenue Acceleration/Inflection

Ares is expanding its credit businesses, including direct lending, asset-based finance, and opportunistic credit, into new areas such as real estate lending, infra debt, and the insurance sector, leveraging its approximately $600 billion of AUM and extensive global presence.
Blue Owl Capital has evolved from a direct lending focus in 2016 to a broader capital solutions provider, incorporating asset-based lending, digital infrastructure, and GP stakes, with a strategic emphasis on downside protection and yield for investors.
Both Ares and Blue Owl Capital operate with a capital-light, fee-driven business model, emphasizing that scale is a critical competitive advantage in credit and capital solutions, enabling superior origination and underwriting capabilities.
Executives from both firms view market volatility as an opportunity, allowing for the deployment of capital into higher-quality assets with better terms, reinforcing their business models, and demonstrating resilience through past economic challenges.

Nov 18, 2025, 5:00 PM

Transcript

Blue Owl Discusses Business Evolution, Capital-Light Model, and Market Outlook

OWL

New Projects/Investments

Revenue Acceleration/Inflection

M&A

Blue Owl (OWL) has diversified its business from direct lending to include asset-based lending, digital infrastructure, GP stakes, real assets, and secondaries, with its real assets business growing from $12.5 billion to $45 billion in assets post-acquisition.
The company operates a capital-light, fee-driven, FRE-centric model focused entirely on fee revenues, which is highly cash generative and supports a high dividend stock. Scale is considered a critical advantage in credit and capital solutions, enabling greater origination and participation with large companies.
Blue Owl views market volatility as advantageous for its permanent capital model, driving business to private markets. The firm's BDC has shown strong revenue growth of 8%-12% over the last six quarters, and its software lending portfolio has a 0.03% default rate with no losses. The outlook anticipates rates remaining higher for longer, creating a favorable credit environment.

Nov 18, 2025, 5:00 PM

Transcript

Blue Owl and Ares Executives Discuss Business Models, Growth, and Market Outlook at Citizens Conference

OWL

M&A

New Projects/Investments

Marc Lipschultz, Co-CEO of Blue Owl, discussed the company's evolution from direct lending to a diversified platform including asset-based lending and digital infrastructure, emphasizing its core principles of downside protection and yield for investors.
Kipp deVeer, Co-President of Ares, outlined the firm's five credit businesses and his focus on enterprise-level initiatives, including expanding into real estate lending and infra debt, highlighting their capital-light, fee-driven model.
Both executives agreed that market volatility is beneficial for their businesses, enabling deployment of capital into higher-quality assets with better terms due to their largely permanent capital.
Blue Owl's software lending portfolio (OTF) has demonstrated exceptional performance, with a 3 basis points default rate and no losses on software loans to date, focusing on essential software in defensive sectors.
Significant growth opportunities are identified in asset-based lending and digital infrastructure, which are large addressable markets with increasing adoption of private capital solutions.

Nov 18, 2025, 5:00 PM

Transcript

Blue Owl Capital Reports Q3 2025 Results with Strong Growth and Strategic Investments

OWL

Earnings

New Projects/Investments

Guidance Update

Blue Owl Capital reported Q3 2025 fee-related earnings (FRE) of $0.24 per share and distributable earnings (DE) of $0.22 per share, declaring a dividend of $0.225 per share.
The company achieved a record last 12-month capital raise of $57 billion and over $14 billion in new capital commitments during Q3 2025, marking its 18th consecutive quarter of management fee and FRE growth.
Blue Owl announced over $50 billion in investments over the past two months in the data center space, including a $30 billion deal with Meta and a $20 billion deal with Oracle, and launched its Digital Infrastructure Fund semi-liquid product with a first close anticipated in December.
Management expects over 20% FRE growth and FRE per share growth in 2026 and 2027, with margin stabilization and improvement, and highlighted the excellent health of its credit portfolios with an average annual realized loss of just 13 basis points.

Oct 30, 2025, 2:00 PM

Transcript

Blue Owl Capital Reports Strong Q3 2025 Financial Results

OWL

Earnings

New Projects/Investments

Guidance Update

Blue Owl Capital reported Fee-Related Earnings (FRE) of $0.24 per share and Distributable Earnings (DE) of $0.22 per share for Q3 2025, and declared a dividend of $0.225 per share.
The company achieved over $11 billion in new capital commitments in Q3 2025, contributing to a record last 12-month capital raise of $57 billion, with management fees increasing 29% over the last 12 months.
Significant investments in digital infrastructure were highlighted, including over $50 billion across two transactions with Meta and Oracle, alongside a strategic partnership with QIA.
Credit portfolios maintain excellent health, with an average annual realized loss of just 13 basis points and no meaningful stress in direct lending.
Management anticipates continued growth in Part I fees in 2026 and a meaningful acceleration in Real Assets management fee growth, with mid-single digit quarter-over-quarter growth expected for Q4, annualizing to about 20% growth, and further acceleration into 2026.

Oct 30, 2025, 2:00 PM

Transcript

Blue Owl Reports Q3 2025 Results

OWL

Earnings

Dividends

Revenue Acceleration/Inflection

Blue Owl reported $295.6 billion in Assets Under Management (AUM) as of September 30, 2025, marking a 26% increase since September 30, 2024.
For Q3 2025, the company achieved Fee-Related Earnings of $376.2 million, or $0.24 per Adjusted Share, and Distributable Earnings of $341.0 million, or $0.22 per Adjusted Share.
New Capital Commitments Raised totaled $14.4 billion in the quarter, with $11.2 billion in new equity capital.
An annual dividend of $0.90 per Class A Share was announced for 2025, representing a 25% increase from 2024.

Oct 30, 2025, 2:00 PM

Presentation

Blue Owl Capital Inc. Announces Q3 2025 Results

OWL

Earnings

Dividends

Revenue Acceleration/Inflection

Blue Owl Capital Inc. announced its financial results for the third quarter ended September 30, 2025, reporting GAAP Net Income and Earnings per Class A Share as detailed in the table below.
The company also reported strong Fee-Related Earnings and Distributable Earnings for Q3 2025, with corresponding Adjusted Per Share Information also presented in the table.
As of September 30, 2025, Blue Owl Capital Inc. achieved significant growth in Assets Under Management (AUM), which increased 26% since September 30, 2024, alongside substantial new capital commitments during the quarter.
A quarterly dividend of $0.225 per Class A Share was declared, payable on November 24, 2025, to shareholders of record on November 10, 2025.

Metric	Q3 2025
GAAP Net Income ($USD Millions)	$6.3
GAAP EPS Basic ($USD)	$0.01
GAAP EPS Diluted ($USD)	$0.01
Fee-Related Earnings ($USD Millions)	$376.2
FRE per Adjusted Share ($USD)	$0.24
Distributable Earnings ($USD Millions)	$341.0
DE per Adjusted Share ($USD)	$0.22
Assets Under Management (AUM) ($USD Billions)	$295.6
Fee-Paying AUM (FPAUM) ($USD Billions)	$183.8
Permanent Capital ($USD Billions)	$213.8
New Capital Commitments Raised ($USD Billions)	$14.4
Quarterly Dividend ($USD)	$0.225

Oct 30, 2025, 11:01 AM

8-K

Blue Owl Capital Inc. Reports Strong Third Quarter 2025 Results

OWL

Earnings

Dividends

Blue Owl Capital Inc. reported its financial results for the third quarter ended September 30, 2025, noting ongoing business momentum and record fundraising and financial results on a twelve-month basis.
New capital commitments reached $14 billion in the third quarter and $57 billion over the last twelve months.
Assets under management (AUM) totaled over $295 billion as of September 30, 2025.
The company declared a quarterly dividend of $0.225 per Class A Share, payable on November 24, 2025, to shareholders of record on November 10, 2025.

Oct 30, 2025, 11:00 AM

Press Release

Blue Owl Capital and QIA Establish Digital Infrastructure Partnership

OWL

New Projects/Investments

Blue Owl Capital (OWL) and the Qatar Investment Authority (QIA) have formed a Strategic Partnership Agreement to create a new digital infrastructure platform.
The partnership aims to accelerate global compute for leading hyperscalers, addressing the surging demand from cloud and AI transformation.
QIA is expected to contribute more than $3 billion of initial data center assets to launch the platform, with expectations for future growth.
As of June 30, 2025, Blue Owl's Digital Infrastructure strategy, part of its Real Assets platform, has raised $39 billion of capital and invested in 104 facilities across 28 global markets.

Sep 25, 2025, 11:00 AM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for BLUE OWL CAPITAL.

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