Blue Owl Capital Corporation Reports Strong Year-End Results, Announces Merger and Dividend Strategy
Deal News | Feb 19, 2025 | Blue Owl Credit Advisors LLC
Blue Owl Capital Corporation—externally managed by Blue Owl Credit Advisors LLC—announced its financial results for Q4 2024 and the full year. The company achieved a net investment income of $0.47 per share for the fourth quarter, maintaining the figure from the previous quarter and exceeding the regular dividend by 27%. The NAV per share slightly decreased to $15.26, mainly due to unrealized credit-related losses. Blue Owl declared a fourth-quarter supplemental dividend of $0.05 and reported total new investment commitments of $1.7 billion for the quarter, matched by $1.6 billion in sales and repayments. The full year witnessed total commitments worth $7.3 billion. Subsequently, Blue Owl finalized its previously announced merger with Blue Owl Capital Corporation III (OBDE) in January 2025, forming a company with over $18 billion in assets. Furthermore, an at-the-market program was sanctioned to issue $750 million in common stock. The firm's solid 12.4% annualized return on equity is attributable to stable credit quality and robust origination activity.
Sectors
- Financial Services
- Investment Management
Geography
- United States – Blue Owl Capital Corporation is based in New York and focuses on lending to U.S. middle-market companies, indicating that its primary operations and market activities are centered in the United States.
Industry
- Financial Services – The article pertains primarily to a financial services company, Blue Owl Capital Corporation, which focuses on providing lending solutions to middle-market companies.
- Investment Management – Blue Owl operates as part of an investment management firm, engaging in investments across diverse sectors.
Financials
- 0.47 – Net investment income per share for Q4 2024.
- 15.26 – Net asset value (NAV) per share as of December 31, 2024.
- 1.7 billion – New investment commitments for Q4 2024.
- 18 billion – Total assets at fair value, on a pro forma combined basis, as of December 31, 2024, post-merger with OBDE.
- 750 million – Planned issuance under the at-the-market program approved by the Board.
- 594,980 – Net increase in net assets resulting from operations for 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blue Owl Capital Corporation | Target Company | Company | A specialty finance company focusing on lending to U.S. middle-market companies, operating as a business development company. |
| Blue Owl Credit Advisors LLC | External Manager | Company | An SEC-registered investment adviser and an indirect affiliate responsible for managing Blue Owl Capital Corporation. |
| Blue Owl Capital Corporation III (OBDE) | Merged Entity | Company | A company merged into Blue Owl Capital Corporation, contributing to its expansion as one of the largest publicly traded BDCs. |
| Craig W. Packer | Chief Executive Officer | Person | CEO of Blue Owl Capital Corporation, commenting on the company's strong financial performance and prospects. |
| Prosek Partners | Public Relations | Company | Handles media relations and communications for Blue Owl Capital Corporation. |