Blue Owl Capital Corporation Reports Strong Q3 Earnings with 12.4% ROE
Deal News | Nov 06, 2024 | Blue Owl Credit Advisors LLC
Blue Owl Capital Corporation reported its Q3 2024 financial results, highlighting a net investment income per share of $0.47, surpassing the regular dividend of $0.37 and generating a 12.4% ROE. The board declared a supplemental dividend of $0.05 per share, with total dividends for the quarter reaching $0.42 per share, resulting in an 11% annualized yield based on NAV. The company reported $1.2 billion in origination offset by $1.1 billion in sales and repayments, with non-accrual investments decreasing to 0.7% of the debt portfolio. A merger with Blue Owl Capital Corporation III is scheduled for January 2025, pending shareholder approval. The board also announced a Q4 regular dividend of $0.37 per share, in line with previous quarters. The company's investment activities showed stable performance with an average investment size of $61.4 million among 219 portfolio companies and maintained a high percentage of floating-rate debt investments.
Sectors
- Financial Services
- Investment Management
Geography
- United States – The headquarters of Blue Owl Capital and its primary market for middle-market lending and investments are based in the United States.
Industry
- Financial Services – This industry covers companies engaged in lending, investment, insurance, and other financial services relevant to the operations and performance of Blue Owl Capital Corporation.
- Investment Management – This sector involves managing portfolios of assets, including equities, debt, and mixed investments, directly relevant to Blue Owl Capital Corporation's activities as a business development company.
Financials
- 0.47 – Net investment income per share for Q3 2024
- 15.28 – Net asset value per share as of September 30, 2024
- 1.2 billion – Originations for the third quarter
- 12.4% – Return on equity for Q3 2024
- 13.4 billion – Aggregate fair value of investments as of September 30, 2024
- 481.3 million – Cash and restricted cash as of September 30, 2024
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blue Owl Capital Corporation | Target Company | Companies | A specialty finance company focused on lending to U.S. middle-market companies, listed on NYSE under OBDC. |
| Blue Owl Capital Corporation III | Merging Company | Companies | An affiliated business development company managed by Blue Owl Diversified Credit Advisors, involved in a merger with Blue Owl Capital Corporation. |
| Blue Owl Credit Advisors LLC | External Manager | Companies | An SEC-registered investment adviser managing Blue Owl Capital Corporation, part of Blue Owl's Credit platform. |
| Craig W. Packer | Chief Executive Officer | People | CEO of Blue Owl Capital Corporation, providing leadership and strategic direction. |
| Prosek Partners | PR Agency | Companies | Handles media communications for Blue Owl Capital Corporation. |