Blue Owl's flagship funds see fewer redemption requests in July-September

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Summary · why it matters

Redemption requests fell from the prior quarter in the flagship private credit funds of U.S. asset manager Blue Owl Capital. According to an investor letter the firm published on the 2nd, redemption requests for the July-September quarter across two of its funds totaled 4.2 billion dollars, down from 4.7 billion dollars in the previous quarter. At its flagship Blue Owl Credit Income fund, known as OCIC, redemption requests in the July-September quarter amounted to 16.8 percent of outstanding shares, down from 18.8 percent in the prior quarter. OCIC manages 35.1 billion dollars in assets, making it the second-largest non-traded business development company in the industry. At Blue Owl Technology Income, known as OTIC, which focuses on the technology sector, redemption requests in the July-September quarter came to 1.1 billion dollars, equivalent to 39 percent of outstanding shares, roughly flat from 1.1 billion dollars and 38.1 percent in the previous quarter. The decline in redemption requests is a fresh sign that the private credit industry may be emerging from the worst of the redemption pressure.

Impact on assets 1

Financials▲
Blue Owl Capital Inc
OWL
▲ PositiveCapitalrelevance

Redemption requests fell across Blue Owl's flagship private credit funds, easing pressure on the asset manager's flagship vehicles.

Off-coverage companies 2

Blue Owl Credit Income Corpi
Private▲ PositiveCapitalrelevance

OCIC redemption requests dropped to 16.8% of outstanding shares from 18.8% in the prior quarter.

Blue Owl Technology Income Corpi
Private± MixedCapitalrelevance

OTIC redemption requests were roughly flat at 39% of outstanding shares versus 38.1% previously, still elevated.