NEW YORK, January 6, 2022
NEW YORK, January 6, 2022 / PRNewswire / – Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL), a leading alternative asset manager, will bring its institutional-grade middle market lending capabilities to accredited Canadian investors. The initiative positions Blue Owl as one of the first US-based private credit managers to offer direct lending capabilities to Canadian onshore investors.
Canadian investors will have access to the Institutional Share Class of Owl Rock Core Income Corp (“ORCIC”), a business development company managed by Owl Rock, a division of Blue Owl. ORCIC has more $ 2.7 billion in assets in 92 portfolio companies at November 30, 2021, and focuses on providing loans and making debt investments in mid-market US companies. The fund offers institutional and high net worth investors access to quality institutional management from Owl Rock and targets high-end mid-market companies, with annual revenues of between $ 50 million and $ 2.5 billion. Owl Rock is one of the largest middle market lenders in the world, with $ 34.6 billion in assets under management and approximately $ 43.6 billion investments initiated since its creation.
Doug Ostrover, CEO and Co-Founder of Blue Owl said, “We are extremely excited to bring our direct lending solutions to a new market and provide Canadian investors with access to one of the most attractive segments of private markets. In today’s market environment, where returns are low and returns are hard to come by, our strategy can deliver value to investors looking to generate income. “
ORCIC provides attractive current income and periodic liquidity to investors, and a Canadian Access Fund for ORCIC will be made available to Canadian investors, including registered retirement savings accounts, through Canadian registered brokers .
ABOUT BLUE OWL
Blue Owl is a global alternative asset manager with $ 82.9 * billion in assets under management at September 30, 2021. Anchored on a solid permanent capital base, the company deploys private capital in direct lending, GP solutions and real estate strategies on behalf of institutional and private clients. Blue Owl’s flexible and consultative approach helps position the firm as a partner of choice for companies seeking capital solutions to support their sustained growth. The company’s management team is made up of seasoned investment professionals with over 25 years of experience building alternative investment businesses. Blue Owl employs more than 350 people in 10 offices around the world. For more information, please visit us at www.blueowl.com.
* Proforma at 09/30/21 to include assets under management attributable to Oak Street which became a Blue Owl company on 12/29/21.
Canadian Legal Notice
This press release should in no way be construed as an offer to sell securities or the provision of advice regarding securities. Any offer or sale of securities referred to in this press release will be made in accordance with the final private placement documents of the securities, to Eligible Investors who qualify as “Qualified Investors” and, in certain circumstances, to “Authorized Clients” under the applicable Canadian securities laws. In addition, any offer or sale of, or advice relating to, any security mentioned in this press release will be made only by a dealer registered in the appropriate category or relying on an exemption from registration. No Canadian securities regulator has reviewed or communicated in any way the information in this press release or the merits of any titles mentioned in this press release, and any statement to the contrary is a violation.
Important information and risk factors
An investment in ORCIC is speculative and involves a high degree of risk, including the risk of a substantial loss of the investment, as well as substantial fees and costs, all of which can affect an investor’s return. . The following are some of the risks associated with an investment in ORCIC common stock; However, an investor should carefully consider the fees and expenses and the information set out in the “Risk Factors” section of ORCIC’s prospectus before deciding to invest:
- An investor should not expect to be able to sell his shares, regardless of ORCIC’s performance. An investment in ORCIC common stock is not suitable for an investor who needs access to the money he is investing. ORCIC does not intend to list its shares on a stock exchange and does not expect a secondary market for its shares to develop. Although ORCIC intends to continue to conduct quarterly take-over bids, it is under no obligation to do so and may suspend or terminate its share buyback program at any time.
- Distributions on ORCIC common shares may exceed ORCIC’s profits and taxable profits. Therefore, a portion of the distributions paid by ORCIC may represent a return of capital for US federal tax purposes. Significant portions of distributions may not be based on investment performance. ORCIC has not established any limits on the extent to which it may use the proceeds of the Offering to fund Distributions. In addition, distributions may also be funded in large part by waiving and / or deferring fees and reimbursements by ORCIC affiliates.
- Payment of fees and expenses will reduce the funds available for investment, the net income generated, the funds available for distribution and the book value of the common shares. In addition, the fees and expenses paid will force investors to achieve a higher total net return in order to recoup their initial investment. Please see ORCIC’s prospectus for further details regarding its fees and expenses.
- ORCIC intends to invest in securities that are rated below investment grade by rating agencies or that would be rated below investment grade if rated.
- ORCIC’s investment advisor and its affiliates face a number of conflicts regarding ORCIC, including the management of other investment entities which raise funds and the management of future investment entities which perform similar types. investments that ORCIC targets.
- The incentive fee payable by ORCIC to its investment advisor may induce the advisor to make investments on behalf of ORCIC which are risky or more speculative than would be the case in the absence of such compensation arrangements. ORCIC may be obligated to pay its investment advisor incentive fees even if ORCIC suffers a net loss due to a decline in the value of its portfolio and even if its earned interest income is not payable in cash.
- The information provided above is not intended for any particular investor or category of investor and is provided solely as general information on Blue Owl’s products and services to regulated financial intermediaries and to otherwise provide general training. on investment. Nothing in this document should be taken as a suggestion to take or refrain from any investment-related action, as ORCIC and its affiliates do not undertake to provide impartial investment advice. , act as an impartial advisor or give advice in a fiduciary capacity. regarding the materials presented here.
All investments are subject to risk, including loss of invested capital. These risks may include limited operating history, uncertain distributions, inconsistent valuation of the portfolio, changing interest rates, leverage on assets, reliance on the investment advisor, potential conflicts of interest. , payment of substantial fees to the Investment Advisor and Dealer Manager, illiquidity and liquidation at more or less than the original amount invested. Diversification will not guarantee profitability or protection against loss. Performance may be volatile and the NAV may fluctuate.
This is for informational purposes only and is not an offer or solicitation to sell or subscribe to any fund and does not constitute an investment, legal, regulatory, commercial, tax, financial, accounting or other advice or recommendation regarding the securities of Owl Rock, any fund or vehicle managed by Owl Rock, or any other issuer of securities. Only the ORCIC Prospectus can make such an offer. Neither the Securities and Exchange Commission nor the Attorney General of New York State nor has any state securities commission approved or disapproved of such securities or determined whether the Prospectus is true or complete. Any statement to the contrary is a criminal offense. Capital commitments can be solicited through Owl Rock Capital Securities LLC, member of FINRA / SIPC, as Dealer Manager.
Copyright © Blue Owl Capital Inc. 2022. All rights reserved.
Head of Investor Relations
David Wells / Nick theccanat
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SOURCE Blue Owl Capital