NEW YORK, June 10, 2021 – Blue Owl Capital, a leading alternative asset manager, announced today its Owl Rock Capital division has closed eight interest-free loans totaling $2.2 million of its own capital to small businesses as part of the Community Loan Program Owl Rock announced one year ago.
The firm has now allocated almost half of the $5 million interest-free loan program to help small businesses remain open and maintain full employment both through the COVID-19 pandemic and during the recovery period. The program is focused on serving minority-owned and operated businesses.
Marc Lipschultz, co-President of Blue Owl Capital, said, “Small businesses are at the heart of the US economy. They provide employment, vital goods and services to communities, and serve as an engine of economic growth and mobility. We are proud to help these businesses, which form an integral part of our society by maintaining their workforces and keeping their doors open.”
Lipschultz continued, “Over the last year, our country has made progress in recognizing and addressing the pressing issues of racial inequality and economic disparity, but there is still much more work to do. Blue Owl is honored to have directed nearly 90% of our program loans to minority owned and operated businesses across four states, and we look forward to disbursing the remainder in a similar fashion.”
The program is being administered by Newtek Small Business Lending.
About Blue Owl
Blue Owl Capital is an alternative asset manager that provides investors access to direct lending and GP capital solutions strategies through a variety of vehicles. The firm’s breadth of offerings and permanent capital base enables it to offer a differentiated, holistic platform of capital solutions to participants throughout the private market ecosystem, including alternative asset managers and private middle market corporations. The firm had approximately $52.5 billion of assets under management as of March 31, 2021. Blue Owl’s management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. Blue Owl has approximately 250 employees across its Dyal Capital Partners and Owl Rock Capital divisions and has six offices globally. For more information, please visit us at www.blueowl.com.
David Wells / Josh Clarkson