Blue Owl Capital has hit $145bn (around £110bn) assets under management on its private credit platform, it announced in second quarter results, a 53 per cent increase from June 2024.
The increase was primarily driven by the firm’s acquisitions of Kuvare and Atalaya, as well as capital raised in products from its direct lending strategy, it said.
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Fee-paying AUM reached $93.7bn, an increase of 47 per cent since June last year. Direct lending originations during the quarter were $9.7bn, with net deployment of $2.5bn.
Gross returns for direct lending were three per cent in the second quarter and 13.5 per cent over the past 12 months.
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“Blue Owl’s strong second quarter results reflect broad-based momentum across our platforms and notable steps forward on new strategic initiatives,” said Doug Ostrover and Marc Lipschultz, co-chief executives of Blue Owl.
“Taken together, we reported record fundraising and more than 30 per cent growth in management fees over the last 12 months during a quarter that included substantial market disruption and volatility.
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“We have invested heavily for growth over the past year and are beginning to see these efforts bear out through our increasingly global distribution, expanded suite of offerings, and even wider origination funnel.”
