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Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Blue Owl Technology Finance Corp. (NYSE:OTF) priced $400 million of bonds Monday, double the $200 million it initially sought, in a tap of the 6.500% notes due 2029 it first sold in June, according to a prospectus supplement filed Monday. Blackstone Inc.‘s (NYSE:BX) BCRED did the same, raising $750 million against a roughly $500 million target. The two upsized deals were the first real test of appetite for business development company debt since the start of the third quarter, Bloomberg reported. Blue Owl Capital Inc., which manages Blue Owl Technology, sold $750 million in notes last week, as investor demand reached as much as $3.3 billion for the offering. RBC, SMBC, ING Groep NV, Mizuho Financial Group and Societe Generale SA managed Monday’s transaction for Blue Owl Technology. Read Also: Anthropic CEO Says AI Could Cure Most Human Disease in 5-10 Years — but Admits Big Promises Haven't Landed Earlier this year, Blue Owl Capital held a similar offering, raising $400 million from bond investors. The bonds were issued by Blue Owl Capital Corp. (OBDC) and are investment-grade rated notes. The bonds were yielding 6.4% and were set to mature in September 2028, according to an SEC filing. Pacific Investment Management Co. (PIMCO) acquired all of the $400 million bond offering shortly after. In April, Blackstone’s BCRED raised $850 million in an investment-grade bond deal after initially looking to raise $500 million. Business development company (BDC) equities are signaling growing investor skepticism over private credit valuations, even as BDC bonds have recovered much of their recent underperformance, a recent report from Lotfi Karoui at PIMCO noted. Investors are demanding a higher risk premium to compensate for uncertainty about the value of loans held by BDCs, which finance small and midsize private U.S. companies, he added. Earlier this month, Barings Private Credit Corp. priced a $350 million offering on Aug. 13, the second U.S. high-grade note sale by a BDC since the start of July. Photo: Shutterstock Read Also: BDC Stocks Signal Growing Doubts Over Private Credit Valuations This article Blackstone, Blue Owl Funds Upsize Bond Sales After Third-Quarter Lull in Private Credit Issuance originally appeared on Benzinga.com © 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Blue Owl Capital Corporation OBDC reported second-quarter 2026 adjusted earnings per share (EPS) of 34 cents, which beat the Zacks Consensus Estimate by 6.3%. The bottom line increased 9.7% year over year. Total investment income declined 17.4% year over year to $401.3 million. The top line beat the consensus mark by 1.8%. The strong quarterly results were supported by lower expenses, particularly interest expense, as daily average borrowings declined. However, the benefit was partly offset by a year-over-year decline in net investment income, primarily due to lower interest income. Blue Owl Capital Corporation price-consensus-eps-surprise-chart | Blue Owl Capital Corporation Quote Adjusted net investment income of $170.6 million fell 17.1% year over year. New investment commitments amounted to $319 million across five new portfolio companies and eight existing ones. Blue Owl Capital ended the second quarter with investments in 229 portfolio companies, backed by an aggregate fair value of $15 billion. Based on the fair value, the average investment size in each portfolio company was $65.3 million as of June 30, 2026. Total expenses decreased 15.9% year over year to $224.5 million in the second quarter due to lower interest expenses and management fees. OBDC recorded an adjusted net increase in net assets resulting from operations of $65.7 million, which decreased from $137.5 million a year ago. Blue Owl Capital exited the second quarter with a cash balance of $237.4 million, which declined from the 2025-end level of $558.7 million. Total assets of $15.3 billion decreased from $17.2 billion as of 2025-end. Debt was $7.9 billion, down from $9.3 billion as of Dec. 31, 2025. OBDC had $4.2 billion of undrawn capacity under its credit facilities. At the end of the reported quarter, net debt to equity was 1.11X. Net operating cash flow in the first half of 2026 was $1.5 billion, up from the prior-year figure of $1 billion. The company’s board of directors declared a third-quarter dividend of 31 cents per share for stockholders of record as of Sept. 30, 2026, payable on or before Oct. 15, 2026, and a second-quarter supplemental dividend of 2 cents per share for stockholders of record as of Aug. 31, 2026, payable on or before Sept. 15, 2026. As per Blue Owl Capital’s previously announced repurchase program (expiring in 18 months from the approval date of Feb. 18, 2025), it may purchase shares up to $300 million. The company repurchased shares worth $35 million in the second quarter of 2026. OBDC currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Several companies in the Finance space, including Ares Capital Corporation ARCC, Main Street Capital Corporation MAIN and CION Investment Corporation CION, have already reported their financial results for the June quarter of 2026. Here’s how they have performed: Ares Capital’s second-quarter 2026 core earnings of 47 cents per share met the Zacks Consensus Estimate. The bottom line fell 6% from the prior-year quarter. The reported quarter’s earnings were primarily supported by an increase in interest income from investments, along with higher capital structuring service fees. Robust portfolio activity was another positive. However, an increase in expenses acted as a headwind for ARCC. Main Street Capital reported second-quarter 2026 net investment income of 97 cents per share, which missed the Zacks Consensus Estimate by 3%. The metric compares unfavorably with 99 cents in the year-ago quarter. Net investment income (GAAP basis) was $90.3 million, up 2.4% from the prior-year quarter. The results were affected by higher expenses. Nonetheless, an increase in total investment income acted as a tailwind for MAIN. CION Investment reported second-quarter 2026 net investment income of 29 cents per share, which surpassed the Zacks Consensus Estimate of 27 cents. The reported figure compares unfavorably with 32 cents per share in the year-ago quarter. Net investment income was $14.2 million, down 16.2% from the prior-year quarter’s level. CION’s earnings benefited from lower non-accruals. However, a decline in total investment income and higher operating expenses weighed on performance. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Blue Owl Capital Corporation (OBDC) : Free Stock Analysis Report Ares Capital Corporation (ARCC) : Free Stock Analysis Report Main Street Capital Corporation (MAIN) : Free Stock Analysis Report CION Investment Corporation (CION) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Blue Owl Capital Corporation? Here are five stocks we like better. Adjusted net investment income rose to $0.34 per share from $0.31, supported by the $274 million Mavis Tire realization and higher specialty-finance dividends. The board declared a $0.31 base dividend and a $0.02 supplemental dividend. Investment activity remained subdued, with $429 million funded versus $747 million repaid, lowering net leverage to 1.11 times. Blue Owl emphasized underwriting discipline and reported more than $10 billion of available capital for selective deployment. NAV per share declined to $14.26 from $14.41 because of an isolated Loparex credit markdown, while broader portfolio metrics remained stable. The company also repurchased $35 million of shares and maintained approximately $3.5 billion in liquidity. Blue Owl Capital (NYSE:OBDC) reported second-quarter 2026 adjusted net investment income of $0.34 per share, up from $0.31 in the prior quarter, as a large investment realization and higher specialty-finance dividend income lifted results. Net asset value per share declined to $14.26 from $14.41 in the first quarter, primarily due to a markdown on one portfolio company. Chief Executive Officer Craig Packer said adjusted net investment income translated to a 9.6% annualized return on equity, more than 100 basis points above the prior quarter. The company said earnings comfortably covered its base dividend and supported a supplemental distribution. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling The board declared a third-quarter base dividend of $0.31 per share, payable Oct. 15 to shareholders of record Sept. 30. It also declared a $0.02 per-share supplemental dividend, payable Sept. 15 to shareholders of record Aug. 31. Management attributed much of the quarter-over-quarter increase in net investment income to the repayment of its preferred-equity investment in Mavis Tire. Blue Owl collected approximately $274 million in cash from the repayment, including $66 million of accrued payment-in-kind, or PIK, interest. The investment generated a 1.5-times multiple on invested capital, according to Senior Managing Director Logan Nicholson. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High The Mavis repayment was Blue Owl’s largest PIK investment realization to date and contributed about $0.03 per share of fee income, management said during the question-and-answer session. Chief Financial Officer and Chief Operating Officer Jonathan Lamm said the income was recorded as fee income because of the way the preferred instrument was repurchased, rather than as interest income. Nicholson said Mavis had grown to roughly four times its size since Blue Owl’s initial preferred-equity investment and had become one of the country’s largest tire-service companies. → No Hangover: Revisiting Microsoft One Week After Earnings The realization reduced PIK income to 10.7% of total investment income in the second quarter, compared with peak levels above 13% two years earlier. Nicholson said much of Blue Owl’s PIK exposure was intentionally structured at investment inception to enhance returns rather than resulting from distressed borrowers. Higher dividend income from the company’s life sciences-focused specialty finance vehicle, LSI, also contributed to quarterly earnings. LSI benefited from the repayment of ITM Radiopharma, which generated an internal rate of return above 20% on a $140 million position, Nicholson said. Since inception, LSI has generated returns of more than 15% to Blue Owl, according to management. Blue Owl funded $429 million of investments during the second quarter and received $747 million of repayments. The imbalance reduced net leverage to 1.11 times, the company’s lowest level in more than two years and within its target range of 0.9 to 1.25 times. Management said transaction activity remained subdued as refinancing activity and merger-and-acquisition activity slowed amid asset-price volatility, wider spreads and geopolitical uncertainty. Nicholson said many refinancings that had accounted for a significant portion of activity in prior quarters have become less attractive in the current spread environment. “Underwriting discipline continues to take precedence over deployment volume,” Packer said. He added that the company remains active in discussions with borrowers and sponsors, including opportunities to support existing portfolio companies through add-ons and other financings. Blue Owl remains focused on the upper middle market, where management said it sees the best risk-adjusted returns. Packer said the firm has a broad sponsor and company coverage network and does not believe it is missing investment opportunities despite the muted market environment. The company said it has more than $10 billion of available capital across its platform and could deploy selectively as conditions improve. Packer said the forward rate curve is roughly 100 basis points higher than earlier in the year, while spreads remain wider and financing terms have become more attractive for direct lenders. Blue Owl said the decline in net asset value was largely driven by a credit-specific markdown on Loparex. The company had been pursuing a transaction that would have brought in new equity and recapitalized its balance sheet, but the transaction did not close, leading Blue Owl to mark down its position. Non-accrual investments represented 0.8% of the portfolio at fair value at quarter-end, slightly lower than the prior quarter. Nicholson said Loparex, which represented about 90 basis points of the portfolio at cost, accounted for the divergence between non-accrual measurements at cost and fair value. Management said broader portfolio fundamentals remained stable. Portfolio-company revenue and EBITDA grew at mid- to high-single-digit year-over-year rates, while interest coverage remained around two times. Average borrower net leverage was 5.8 times, down modestly over the past two years, and loan-to-value ratios were stable at 47%. Blue Owl’s portfolio is diversified across 30 industries, with an average position size of approximately 40 basis points. Software represented about 18% of the portfolio. Nicholson said software remained one of the portfolio’s best-performing sectors in terms of revenue and EBITDA growth, though management continues to monitor developments in the sector and remains cautious on new software deployment. The company repurchased $35 million of shares during the quarter, which Lamm said added $0.03 per share to net asset value. Since the fourth quarter of 2025, Blue Owl has repurchased about $220 million of stock. Lamm said the company evaluates buybacks, leverage and new investments as competing uses of capital and expects to continue repurchasing shares when management views the stock as attractive, while monitoring liquidity and leverage. During the quarter, Blue Owl raised about $800 million of unsecured debt and addressed roughly $1 billion of legacy maturities in July. It also amended and extended its revolving credit facility, retaining $4 billion of capacity with unchanged pricing. The company eliminated two higher-cost secured facilities as part of its capital-structure optimization efforts. Total liquidity, including cash and undrawn credit capacity, stood at approximately $3.5 billion after accounting for the July bond maturity, exceeding the company’s unfunded commitments. Lamm said the company had about $0.29 per share of spillover income, providing additional support for the base dividend. Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses. The company's investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Blue Owl Capital Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

NEW YORK, Aug. 5, 2026 /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 DeclarationsOn 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. 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. 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. RESULTS OF OPERATIONS FOR THE SECOND QUARTER ENDED JUNE 30, 2026 Investment IncomeInvestment 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. ExpensesTotal 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 ResourcesAs 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. 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 RelationsMichael [email protected] Media Contact:Head of CommunicationsAndrew [email protected] 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: 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: View original content:https://www.prnewswire.com/news-releases/blue-owl-technology-finance-corp-announces-june-30-2026-financial-results-302844208.html

NEW YORK, Aug. 5, 2026 /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 DeclarationOn 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. 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. 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. RESULTS OF OPERATIONS FOR THE SECOND QUARTER ENDED JUNE 30, 2026 Investment IncomeInvestment 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. ExpensesTotal 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 ResourcesAs 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. 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 RelationsMichael [email protected] Media Contact:Head of CommunicationsAndrew [email protected] 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: 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: 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: 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: View original content:https://www.prnewswire.com/news-releases/blue-owl-capital-corporation-announces-june-30-2026-financial-results-302844165.html

Interested in Blue Owl Capital Inc.? Here are five stocks we like better. Blue Owl reported solid Q2 2026 results: fee-related earnings and distributable earnings both rose 9% year over year, while the company declared a quarterly dividend of $0.23 per share. Management reaffirmed expectations to exceed 2026 consensus estimates, driven mainly by top-line management-fee growth. Significant embedded growth supports the outlook: Blue Owl ended the quarter with $31 billion of non-fee-paying AUM that could generate approximately $380 million in annual management fees once deployed. The firm also raised $7.8 billion in quarterly capital and expects management-fee growth to accelerate over the next two quarters. Real assets and alternative credit are gaining scale: real-assets AUM increased 25% year over year, led by net lease and digital infrastructure, while alternative credit AUM grew 35%. Credit performance remained strong, with limited watch-list changes, a 12-basis-point average realized loss rate, and nearly $7 billion in credit deployment over the past year. TPG Built a Record Year, Then Lost 40%—Is the Selloff Overdone? Blue Owl Capital (NYSE:OWL) reported second-quarter 2026 fee-related earnings of $0.25 per share and distributable earnings of $0.22 per share, with distributable earnings rising 9% from the prior-year quarter. The alternative asset manager declared a quarterly dividend of $0.23 per share, payable Aug. 27 to shareholders of record on Aug. 13. Chief Financial Officer Alan Kirshenbaum said management fees increased 8% year over year, excluding the effect of management-fee offsets, while fee-related earnings and distributable earnings each rose 9%. Blue Owl’s fee-related earnings margin was 58.5%, modestly higher than both the first quarter and the year-ago period and in line with the company’s outlook for the full year. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now MarketBeat Week in Review – 03/30 - 04/03 Kirshenbaum reaffirmed management’s expectation that Blue Owl can exceed the Visible Alpha consensus estimates it cited last quarter of $1.02 in fee-related earnings per share and $0.89 in distributable earnings per share for 2026. He said the expected improvement is primarily a top-line growth story, supported by management-fee growth rather than a substantial expansion in margins. Blue Owl ended the quarter with $31 billion of assets under management not yet paying fees, representing about $380 million in expected annual management fees once deployed. Kirshenbaum said this amount equates to approximately 15% embedded growth relative to 2025 management fees. → Microsoft Just Flipped the AI Spending Narrative Overnight Blue Owl’s Risk/Reward Profile Is Almost Too Good to Be True “As this capital is drawn down and put to work, it converts into fee-paying AUM and will continue to support management fee growth across our platforms,” Kirshenbaum said. The company expects management-fee growth to build in each of the next two quarters. Its outlook does not assume a sharp recovery in sponsor-led merger-and-acquisition activity, according to Co-Chief Executive Officer Marc Lipschultz, who said growth is being supported by newer credit strategies, real assets, and other areas of the platform. → Carrier Earnings Could Send the Stock to a New All-Time High Blue Owl raised $7.8 billion of total capital in the quarter and $50.5 billion over the past 12 months, equal to 18% of its assets under management at the same point last year. The company said all of the capital raised was organic. Institutional and insurance investors accounted for roughly three-quarters of equity capital raised during the second quarter and about two-thirds of equity capital raised over the past 12 months. Lipschultz highlighted the growing role of real assets, which now represents nearly 30% of Blue Owl’s assets under management. Real-assets AUM rose 25% year over year and revenue from the platform increased 27%, led by the company’s Net Lease and Digital Infrastructure strategies. Blue Owl’s Net Lease strategy raised $7.7 billion one year after its first close, exceeding its original hard cap. Including co-investment capital, the strategy has raised $8.7 billion, or 1.5 times the amount raised for its predecessor vintage. About 60% of commitments came from first-time investors in the strategy, the company said. The firm said Net Lease Fund VI was 65% drawn at quarter-end and was expected to reach 77% drawn following a capital call. Blue Owl expects the fund to be virtually fully called by the end of the year. Its next Net Lease vintage has already exceeded a $7.5 billion hard cap, and fundraising is expected to conclude this year. Digital Infrastructure remains another growth focus. Blue Owl said its data-center footprint includes more than 140 data centers owned or under construction globally, representing 15.3 gigawatts of leased and owned capacity. The company expects the first close of its next Digital Infrastructure flagship fund in the second half of 2026 and said it continues to target $10 billion for the strategy. In credit, direct lending now accounts for approximately 35% of AUM, down from nearly half two years ago as other strategies have grown. Alternative Credit, which is approaching 10% of credit AUM, grew 35% over the past year. Blue Owl’s Alternative Credit interval fund surpassed $2.7 billion in size in its first year and outperformed the leveraged-loan index by more than 600 basis points over that period, according to Lipschultz. Blue Owl also said it has raised more than $1 billion toward a $1.5 billion target for newly launched data-center credit and real-estate credit strategies. The company reported continued strong performance in direct lending, with portfolio companies growing at a mid- to high-single-digit pace on average. Lipschultz said Blue Owl’s direct-lending watch list showed no meaningful change from a year earlier. The platform’s average annual realized loss rate stood at 12 basis points, including a net gain in its technology-lending portfolio. Blue Owl’s direct-lending investments generated a total return of 8.3% over the past 12 months, while Alternative Credit returned 11.4%, the company said. Credit deployment was led by Alternative Credit and investment-grade credit, with total credit deployment of nearly $7 billion over the past year, more than double the prior 12-month period. Management addressed investor attention on non-traded business development companies and related redemption activity. Kirshenbaum said redemption requests for Blue Owl’s non-traded BDCs declined modestly in the second quarter, while 90% of OCIC fund investors did not request any redemptions for a second consecutive quarter. He said loan repayments meaningfully exceeded net outflows during the quarter, and Blue Owl did not see increased redemption activity across its other evergreen products. For the July 1 close, evergreen inflows rose more than 50% from the May 1 close, although management said inflows remained below historical levels. Lipschultz said the company’s wealth-focused direct-lending products account for 11% of Blue Owl’s fee-paying assets, despite receiving a disproportionate share of market attention. He said Blue Owl remains open to launching a more traditional drawdown direct-lending fund if investors favor that structure. Blue Owl raised about $1.3 billion in GP Strategic Capital during the quarter, including capital for its flagship large-cap strategy and an additional strip-sale transaction. The sixth vintage has raised $10.6 billion including co-investment capital, and management expects to complete fundraising this year. Over the past two years, the company has completed five strip-sale transactions that produced an aggregate $4.6 billion of return of capital for investors. Lipschultz said Blue Owl sees a growing opportunity to provide capital solutions to larger alternative-asset management firms as the industry consolidates. Looking ahead, management said it expects institutional fundraising to remain strong during the second half of 2026 and believes total fundraising could exceed the first-half level. Blue Owl also expects to introduce additional wealth products over the next six to 18 months, though executives did not provide details. Blue Owl Capital is a global alternative asset manager that focuses on private credit, direct lending and equity-related strategies for institutional investors. Headquartered in New York, the firm develops and manages a range of private markets products designed to provide capital solutions to middle-market and larger corporate borrowers, as well as liquidity and partnership arrangements with private equity firms and other alternative managers. Its core activities include direct lending and credit strategies that provide senior, unitranche and other structured loan products to companies across industries. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Blue Owl Capital Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

July 31 (Reuters) - Ares Capital and Blue Owl Capital reported resilient second-quarter results this week, while Ares Management posted record fundraising, highlighting continued institutional demand for private credit despite rising defaults, ‌retail redemptions and liquidity concerns. Ares Management, one of the industry's largest players, raised a record $36 billion ‌in the second quarter, including $23.7 billion for its credit strategies. Assets under management rose 17% from a year earlier to $671.3 billion. "Clients continue to ​reward us due to our strong and consistent fund performance across our strategies," Ares Management Chief Executive Michael Arougheti said. Ares Management deployed $35.9 billion during the quarter and ended June with a record $170 billion of uninvested capital. The firm said its investment pipeline was improving after a subdued period for dealmaking, as geopolitical uncertainty weighed on sponsor-backed transactions. Separately, Ares ‌Capital, the largest publicly traded business ⁠development company (BDC), reported core earnings of 47 cents per share, in line with the LSEG consensus estimate. It maintained its quarterly dividend and had about $6 billion of available liquidity ⁠as of July 23. Blue Owl Capital reported $319 billion of assets under management at the end of June, up 12% from a year earlier. Its distributable earnings rose 9%, matching analysts' average estimate. But signs of stress remain across parts of the ​market. Fitch ​Ratings said the U.S. private-credit default rate rose to a ​record 6.0% in the 12 months through June, ‌from 5.7% in the previous quarter. The agency recorded 32 default events in the second quarter involving 20 new borrowers. Industrials and manufacturing had the highest default rate among major sectors, at 10.4%, while healthcare stood at 9.4%, Fitch said. At the same time, retail-focused private-credit funds continued to receive redemption requests well above their normal quarterly repurchase limits. Jefferies said private-credit inflows were down about 25% year-to-date from the same period in 2025. Second-quarter redemption requests ‌reached 38.1% of net asset value at Blue Owl Technology Income ​Corp, 18.9% at Blue Owl Credit Income Corp and 16.8% at ​Apollo Debt Solutions. Most funds repurchased shares equivalent ​to about 5% of net asset value during the quarter, leaving some investors with withdrawal ‌requests rolled into future periods. Evercore estimated global private ​credit secondary-market volume reached $20.4 billion ​in the first half of 2026, up 122% from a year earlier and exceeding the total recorded in all of 2025. GP-led deals, in which managers offer investors the option of selling or ​rolling holdings into a new vehicle, ‌accounted for 83% of the total. Evercore expects BDCs, semi-liquid funds and interval funds to account for ​about a quarter of credit-secondary activity this year as managers seek to meet investor liquidity needs. (Reporting ​by Patturaja Murugaboopathy. Editing by Vidya Ranganathan and Mark Potter)

Shares of Blue Owl Capital OWL gained 6.4% following the release of the company’s second-quarter 2026 results. Distributable earnings per share of 22 cents matched the Zacks Consensus Estimate. The figure reflects a rise of 5% from the prior-year quarter.Results mainly benefited from an increase in revenues. The company recorded solid fundraising across its Credit, Real Assets and GP Strategic Capital platforms, which drove assets under management (AUM). However, higher expenses hurt the results to an extent.Net income available to the company (GAAP basis) was $11.4 million, down 35% from $17.4 million in the prior-year quarter. FRE (Fee-Related Earnings) revenues increased 7% from the prior-year quarter to $693.6 million. It beat the Zacks Consensus Estimate of $685.9 million.Total GAAP revenues rose 7% year over year to $753.1 million. The rise was driven by an increase in management fees and administrative, transaction and other fees.Total GAAP expenses increased 5% year over year to $636.6 million. The rise was due to increases in compensation and benefits costs and general, administrative and other expenses. As of June 30, 2026, total AUM was $319 billion, up 12% year over year, primarily driven by capital raised, changes in debt and appreciation across the business, partially offset by distributions.Fee-paying AUM of $190.6 billion as of June 30, 2026, increased 7%. The increase was driven by capital raised across the business and deployment in Credit, partially offset by distributions. Permanent Capital of $225 billion increased 10%.In the reported quarter, Blue Owl raised $7.8 billion in new capital commitments. The company also had $31.1 billion of AUM not yet paying fees, which is expected to generate approximately $380 million in annual FRE management fees once deployed.Total equity fundraise of $7.6 billion in the quarter was driven by $4.4 billion in Real Assets, $1.8 billion in Credit and $1.3 billion in GP Strategic Capital. As of June 30, 2026, Blue Owl had $169 million in cash and cash equivalents and available capacity under its revolving credit facility of $1.09 billion.At the end of the second quarter, debt obligations were $3.86 billion. Blue Owl’s performance is expected to continue benefiting from strong fundraising across its investment platforms and higher AUM. This will support the company’s FRE revenue growth going forward. However, near-term pressure from private-credit liquidity strains, borrower quality worries and rising expenses is expected to remain a headwind for the company. Blue Owl Capital Inc. price-consensus-eps-surprise-chart | Blue Owl Capital Inc. Quote Currently, Blue Owl carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. KKR & Co. Inc. KKR reported second-quarter 2026 adjusted net income per share of $1.63, surpassing the Zacks Consensus Estimate of $1.42. The bottom line rose from $1.18 in the prior-year quarter.Results have primarily reflected impressive growth in AUM and transaction fees for the capital markets business. However, an increase in expenses acted as a headwind for KKR.Blackstone’s BX second-quarter 2026 distributable earnings of $1.52 per share outpaced the Zacks Consensus Estimate of $1.33. The figure soared 26% from the prior-year quarter.BX’s results benefited from a rise in AUM and higher revenues. An increase in GAAP expenses was the undermining factor. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Blue Owl Capital Inc. (OWL) : Free Stock Analysis Report Blackstone Inc. (BX) : Free Stock Analysis Report KKR & Co. Inc. (KKR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

For the quarter ended June 2026, Blue Owl Capital Inc. (OWL) reported revenue of $693.56 million, up 7.4% over the same period last year. EPS came in at $0.22, compared to $0.21 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $685.89 million, representing a surprise of +1.12%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.22. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Blue Owl Capital performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: AUM - Total: $319.01 billion versus the four-analyst average estimate of $322.07 billion. AUM - GP Strategic Capital: $71.52 billion versus $71.97 billion estimated by three analysts on average. AUM - Credit: $158.12 billion versus $159.88 billion estimated by three analysts on average. AUM - Real Assets: $89.37 billion compared to the $89.35 billion average estimate based on three analysts. FRE Revenues- Credit Platform- Management Fees, Net: $391.31 million versus $393.16 million estimated by three analysts on average. FRE Revenues- GP Strategic Capital Platform- Management Fees, Net: $168.43 million compared to the $163.66 million average estimate based on three analysts. FRE Revenues- Real Assets Platform- Management Fees, Net: $112.87 million versus the three-analyst average estimate of $110.71 million. FRE Revenues- GP Strategic Capital Platform- Administrative, transaction and other fees: $4.04 million versus $2.25 million estimated by two analysts on average. FRE Revenues- Real Assets Platform: $116.85 million versus the two-analyst average estimate of $117.59 million. FRE Revenues- GP Strategic Capital Platform: $172.47 million compared to the $165.09 million average estimate based on two analysts. FRE Revenues- Credit Platform: $404.24 million versus the two-analyst average estimate of $406.9 million. FRE Revenues- Real Assets Platform- Administrative, transaction and other fees: $7.69 million compared to the $4 million average estimate based on two analysts. View all Key Company Metrics for Blue Owl Capital here>>> Shares of Blue Owl Capital have returned +10.5% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Blue Owl Capital Inc. (OWL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Release Date: July 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Blue Owl Capital Inc (NYSE:OWL) reported 9% growth in distributable earnings (DE) year-over-year, driven by broad-based expansion across products and geographies. The real assets platform now constitutes nearly 30% of AUM, with 25% AUM growth and 27% revenue growth year-over-year, led by net lease and digital infrastructure strategies. Fundraising remains robust, with $60.5 billion raised in the first half of 2026, and over 75% of equity capital raised in the last 12 months coming from non-direct lending strategies, highlighting diversification. Investment performance is strong across the board, with direct lending funds outperforming benchmarks, a 12 basis point average annual real loss rate, and top-quartile rankings in GP stakes funds. Management fees are expected to grow sequentially in Q3 and Q4 2026, supported by $31 billion of AUM not yet paying fees, representing approximately $380 million in future annual management fees. The non-traded BDC space experienced elevated redemption requests and sentiment-driven outflows, though these are now showing signs of moderation. Direct lending deployment remains constrained by a tepid sponsor-driven M&A environment, with net deployment running near zero. Wealth channel inflows, while showing signs of a bottom, are still below historical levels and face headwinds from negative industry headlines. The company acknowledges potential for credit normalization and higher loss rates, though current levels remain very low. Fee-paying AUM in credit saw a slight decline due to institutional capital being raised but not yet deployed, creating a lag in management fee recognition. Here are the key highlights from the Blue Owl Capital Inc (NYSE:OWL) Q2 2026 earnings call, presented as summarized Q&A pairs. Warning! GuruFocus has detected 8 Warning Signs with OWL. Is OWL fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide more detail on where you see the potential to beat the Visible Alpha consensus estimates for 2026 FRE of $1.02 and DE of $0.89? A: (Alan Kirshenbaum, CFO) We have visibility into growth for the next couple of quarters. For direct lending, we look to net deployment as an indicator for management fee growth. We are wrapping up the latest GP stakes vintage, which will add growth. For net lease, Fund 6 is 65% drawn and we have line of sight to be fully called by year-end. The current vintage is about 10% called, providing a full quarter of fees in Q3. Our next digital infrastructure flagship is expected to have its first close later this year, which will have a more immediate impact on management fees as we charge on committed capital. We see management fee growth building in each of the next two quarters. Q: How are cap rates trending in the data center business given increased competition, and can you update us on the underlying tenant credit quality? A: (Mark Lipshultz, Co-CEO) We continue to experience very strong cap rates and are not seeing compression. Our ability to design, build, and operate at scale with 1,000 people in our stack makes us the partner of choice for hyperscalers. This leads to mutual value and attractive development rates. Regarding credit quality, our business is an investment-grade (IG) business. The single-digit percentage of tenants that are non-IG is essentially inconsequential to what we do. Q: Has the recent turmoil in the non-traded BDC space reshaped your approach to expanding retail distribution, particularly concerning "hot money" versus a secure core US retail base? A: (Alan Kirshenbaum, CFO) We feel good about what we are seeing. We believe inflows have troughed, and redemptions in our non-traded BDCs are down. We have not seen increases in redemptions across our other wealth products. Financial advisors and home offices have been very supportive due to our strong performance and transparency. We are seeing a broadening in advisor participation, having launched on 13 new platforms this year with 21 more slated. (Mark Lipshultz, Co-CEO) The wealth channel has proven more durable than many thought. The redemption behavior was very narrow, concentrated in about 10% of investors in a specific product. 90% of our core income product investors did not request a single redemption. The market is able to discern between asset classes, and the structures work. Q: What are your updated expectations for the size and timing of the final close for GP Stakes Fund 6, and what are the limitations to growth for this strategy? A: (Alan Kirshenbaum, CFO) We have raised $10.6 billion in the flagship and co-invest for this vintage. We will wrap up fundraising this year and continue to make steady progress. (Mark Lipshultz, Co-CEO) The opportunity is driven by the evolving marketplace where large franchise businesses need capital solutions for monetization and generational transition. Our GP stakes business is the singular market leader in the large end of the market. The environment is reinforcing the advantage of being in the large end versus the middle market. Our strong performance, including being ranked number one in the world by a Dow Jones measure, makes us a destination for these opportunities. Q: What has been your hesitancy to launch a large traditional drawdown fund for direct lending, and would you consider one to offset capital lost on the retail side? A: (Mark Lipshultz, Co-CEO) We have no hesitation to launch a drawdown product and expect we will if that is where investors want to put their capital. We want to meet investors where they want to be. We already have a product called ODL, which is a drawdown structure with some nuances. We believe the retail channel will recover, and we are already seeing signs of that. Institutional interest has also picked up meaningfully. The current rate environment is exactly where you want to be in direct lending, making it a good place for all types of investors. Q: For credit fee-paying AUM growth over the next 18 months, do we need to see a more meaningful M&A backdrop, or are the newer strategies like alternative credit and investment-grade credit becoming large enough to move the needle? A: (Mark Lipshultz, Co-CEO) The growth we are discussing is not predicated on a rapid recovery in sponsor M&A activity. Our other strategies are growing very substantially and are what we are looking at to drive growth. A meaningful cyclical recovery in private equity would be additive and supportive, but it is not the predicate. Even in a tepid PE environment, we grew our business 9%. We see sequential improvement coming in Q3, Q4, and into 2027. (Alan Kirshenbaum, CFO) We would expect a natural improvement in growth rates as deployment continues and the net flow picture gets better. We have $31 billion of capital not yet paying fees, representing $380 million of future management fees. Q: Can you discuss further opportunities in digital infrastructure beyond the core data center business, specifically regarding chip financing? A: (Mark Lipshultz, Co-CEO) Digital infrastructure is a very important growth opportunity. We are already involved in fiber surrounding data centers. Power is becoming a key area as behind-the-meter solutions become endemic. Our position as the partner of choice gives us access to these adjacent opportunities. Regarding chip financing, we already participate in this in our lending business, not in our triple net lease product. For example, we participated in a meaningful financing for xAI. It is an area of opportunity that has to be done structurally right, and it is a good example of our integrated firm approach. Q: Can you talk about the deployment cadence for the $31 billion of AUM not yet paying fees, particularly in real assets and digital infrastructure? A: (Alan Kirshenbaum, CFO) For net lease, we are actively doing capital calls for Fund 6 with line of sight to be fully called by year-end, and we have already started calls on the current vintage. For digital infrastructure, we expect the first close of the next vintage in the back half of this year, with fundraising continuing through 2027 and into early 2028. We have a $10 billion goal for that fund which we think is achievable. In direct lending, we are running at roughly net zero deployment, which will For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Blue Owl Capital Inc. (OWL) 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%. 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), 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. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Blue Owl Capital Inc. (OWL) : Free Stock Analysis Report PennantPark Floating Rate Capital Ltd. (PFLT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research