NEW YORK, July 28, 2021 — Blue Owl (NYSE: OWL), a leading alternative asset manager, announced today the final closing of the Owl Rock Opportunistic Fund with aggregate capital commitments to the strategy of $2.0 billion.
The strategy will have $2.5 billion in investable capital, including anticipated leverage, to provide private capital and customized solutions that are unique to each company. The strategy attracted strong backing from a diverse group of global investors, including pension funds, endowments, foundations, family offices and asset managers.
Nicole Drapkin and Jesse Huff co-head the strategy, drawing on the firm’s deep sponsor relationships and deal pipeline to source differentiated opportunities while utilizing the firm’s scale and focus to nimbly provide customized and collaborative solutions for borrowers. The strategy will focus on leading directly originated investment opportunities across a broad range of debt and equity instruments, which may include situations such as rescue financings, recapitalizations, wedge capital, DIP loans and broken syndications.
Douglas Ostrover, Chief Executive Officer of Blue Owl, said: “This strategy allows us to offer our investors opportunities for higher potential returns while also providing bespoke financing solutions to support leading middle market companies and financial sponsors in navigating complex situations. We are grateful to our investors for their continued support and thrilled with the strong interest and response from around the world in our inaugural opportunistic offering.”
Drapkin, Portfolio Manager and Co-Head of Opportunistic Credit, said, “This strategy is a natural evolution of our range of credit-oriented investment offerings and enables us to pursue a more comprehensive opportunity set on behalf of our investors. In today’s fast-moving markets, sponsors and management teams appear to be increasingly prioritizing access to private, nimble capital solutions as a competitive advantage, resulting in our team being able to deploy capital into a range of structured solutions that can offer the potential for compelling returns and downside protection.”
Huff, Portfolio Manager and Co-Head of Opportunistic Credit, continued: “By combining Blue Owl’s deep credit underwriting capabilities and strong relationships across the private markets ecosystem, we have been able to identify and pursue a broad range of opportunities to invest in attractive businesses with unique liquidity needs. This includes many market leaders seeking to strengthen and reinforce their balance sheets during a period of uncertainty.”
About Blue Owl
Blue Owl 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 and Owl Rock divisions and has six offices globally. For more information, please visit us at www.blueowl.com.
David Wells / Josh Clarkson / Nick Theccanat