Andrew Polland
About Andrew Polland
Andrew R. Polland is Chief Operating Officer (COO) of Blue Owl Capital Inc. (NYSE: OWL), serving since May 2021; he is age 50 and co-chairs the firm’s Operating Committee . He holds a JD, magna cum laude, from the University of Pennsylvania, and a BS in Industrial and Labor Relations from Cornell University . As COO, his remit spans firmwide operations across three platforms (Credit, Real Assets, GP Strategic Capital); Blue Owl reported Q3 2025 GAAP revenue of $728m (+21% YoY) and Fee-Related Earnings (FRE) of $376m (+15% YoY), with AUM of ~$295bn as of Sept 30, 2025, framing the operating context of his tenure . The firm states it does not use explicit financial performance measures to link NEO compensation to performance (and Polland is not a 2024 Named Executive Officer), though equity ownership is emphasized to align executives with shareholders .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blue Owl Capital Inc. | Chief Operating Officer; Co-Chair, Operating Committee | May 2021–present | Oversees firmwide operations for a scaled alternatives manager across Credit, Real Assets, and GP Strategic Capital . |
| Dyal Capital (predecessor to Blue Owl GP Strategic Capital) | Chief Operating Officer | Pre-2021 | Built/ran operations for GP stakes franchise later combined into Blue Owl . |
| Hoplite Capital Management L.P. | COO, General Counsel, Chief Compliance Officer | Pre-2010s | Led operations/legal/compliance at fundamental equity hedge fund . |
| MSD Partners, L.P. | General Counsel, Chief Compliance Officer | Prior to Hoplite | Senior legal/compliance leadership at multi-strategy investment firm . |
| MSD Capital, L.P. | Chief Compliance Officer | Prior to MSD Partners | Oversaw compliance for family office investment platform . |
| Fortress Investment Group LLC | Deputy Chief Compliance Officer; Head of Litigation; CCO of affiliated broker-dealer | Earlier | Led compliance/litigation functions across alt asset manager and BD . |
| Davis Polk & Wardwell LLP | Litigation Associate | Early career | Complex litigation training at top law firm . |
| U.S. District Court (Judge Charles P. Sifton) | Federal Law Clerk | Earliest role | Judicial clerkship (Eastern District of New York) . |
External Roles
No public company directorships or external board roles disclosed for Polland in the latest proxy .
Fixed Compensation
- Polland was not a Named Executive Officer (NEO) in 2024; base salary and cash bonus for him are not disclosed in the Summary Compensation Table or related sections .
Performance Compensation
- Blue Owl emphasizes equity-based compensation (profits interests “Incentive Units” and RSUs) to align executives; the company does not currently grant stock options .
- The proxy states the company does not use specific “pay versus performance” financial metrics to determine NEO payouts; equity ownership is a guiding principle .
| Incentive Type | Metric Linkage | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Incentive Units (profits interests) | Not disclosed for Polland specifically; used to align with value creation | Not disclosed | Not disclosed | Not disclosed | Awards under annual programs generally vest over 3–5 years; Incentive Units typically subject to a one-year post-vesting lock-up and settle into Operating Group/Common Units and Class C/D shares per plan terms . |
| RSUs (Class A share-settled) | Not disclosed for Polland specifically | Not disclosed | Not disclosed | Not disclosed | Awards under annual programs generally vest over 3–5 years . |
Note: Detailed performance metric weightings, targets, and Polland-specific payouts are not disclosed (Polland is not a 2024 NEO) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Direct Class A Shares | 34,420 Class A Shares (beneficially owned directly) . |
| Additional Operating Group/Common Units via Class D structure | 74,687 Class D Shares/Common Units held on his behalf by Dyal Capital SLP LP; Polland disclaims beneficial ownership of those units (included for context, not counted in his beneficial Class A) . |
| Outstanding Equity Awards (not counted as beneficial ownership in the table) | 314,493 RSUs outstanding; 832,038 Incentive Units outstanding (plan-level counts per footnote) . |
| Ownership % of Class A (context) | Class A shares outstanding at 4/17/2025: 625,652,391; Polland’s direct 34,420 equates to ~0.0055% of Class A; this is a derived figure based on disclosed share counts . |
| Hedging/Shorting Policy | Prohibited for directors, officers, employees; no short sales or hedging; speculative trading requires prior approval . |
| Pledging | Permitted only with prior approval and specific safeguards; no pledges disclosed for Polland (pledges are footnoted for certain other executives) . |
| Clawback | NYSE-compliant clawback covering erroneously awarded incentive comp after a restatement . |
| Option Awards | Company does not currently grant options/SARs . |
Employment Terms
- No Polland-specific employment agreement, severance, or change-in-control (CoC) terms are disclosed in the Written Agreements section; that section covers Ostrover, Lipschultz, Rees, Zahr, Kirshenbaum, and Reddy .
- Accordingly, severance multiples, CoC triggers (single vs. double), and accelerated vesting for Polland are not disclosed .
Performance & Firm Track Record (context for COO role)
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| GAAP Revenues ($000s) | $600,878 | $727,990 |
| FRE Revenues ($000s) | $568,327 | $686,997 |
| Fee-Related Earnings ($000s) | $326,862 | $376,175 |
| Distributable Earnings ($000s) | $301,007 | $341,002 |
| AUM (as of 9/30/2025) | — | ~$295 billion |
- Blue Owl reported continued momentum: Q3 2025 revenues +21% YoY, FRE +15% YoY, and DE +13% YoY, framing operating execution under Polland’s COO remit .
- The firm reported record 12-month fundraising and reiterated platform strength across Credit, Real Assets, and GP Strategic Capital .
Related Party Interests and Potential Conflicts
- GP Stakes vehicles: Certain current and former personnel (including Andrew Polland) are entitled to carried interest distributions from GP Stakes IV and/or GP Stakes V, which have or expect to receive consideration tied to transactions such as ICONIQ’s sale of IPI Partners and related services; Blue Owl itself does not own the carry from these funds .
- Executive/fund co-investments: Polland invested $270,514 of personal capital into or alongside Blue Owl products during 2024 (open-market purchases excluded); many employee investments are fee/carry-free to further align interests .
Say-on-Pay & Shareholder Feedback (program context)
- The company indicates majority approval for its 2022 say-on-pay; 2025 say-on-pay was scheduled with a “triennial” frequency recommendation consistent with prior votes .
Vesting Schedules and Insider Selling Pressure
- Plan-level guidance indicates annual program awards generally vest over 3–5 years; Incentive Units typically have a one-year post-vesting lock-up before settlement/exchange is possible .
- Polland’s specific award-by-award vesting dates and post-vesting release schedule are not disclosed, limiting precision on prospective selling windows; no pledges disclosed for Polland .
Expertise & Qualifications
- Legal and compliance leadership across top-tier alternative managers and hedge funds, ascending to COO roles at Dyal Capital and Blue Owl .
- Education: JD, magna cum laude (UPenn); BS ILR (Cornell) .
- Tenure and age: 50; serving since May 2021 .
Investment Implications
- Alignment: Polland holds direct Class A shares and significant outstanding equity awards (RSUs and Incentive Units), within a corporate policy framework that bans hedging/shorting, limits pledging, and applies an NYSE-compliant clawback—supportive of alignment but with limited disclosure on Polland-specific vesting cadence .
- Retention risk: Absence of a disclosed Polland employment agreement or explicit severance/CoC protections suggests equity is the primary retention lever; plan-level vesting (3–5 years) and lock-ups on Incentive Units promote multi-year retention but make timing of potential selling pressure opaque without Form 4s .
- Trading signals: Award structures imply potential release windows around one-year lock-up anniversaries for Incentive Units and standard RSU cliffs—but Polland’s specific grant dates are undisclosed; monitoring future proxy/award disclosures and Form 4s is advisable to anticipate supply .
- Conflicts/related-party dynamics: Entitlement to carried interest distributions from GP Stakes funds tied to Blue Owl-related transactions is disclosed; while common in alternatives, these interlocks warrant monitoring for governance optics and incentive alignment amid ongoing M&A/platform expansion .
- Execution backdrop: As COO over a period of scaling, Blue Owl delivered YoY growth in GAAP revenue, FRE, and DE in Q3 2025 with ~$295bn AUM—supportive of operating leverage but not directly linked to Polland’s pay formula in disclosures (he is not a 2024 NEO with itemized metrics) .