Blue Owl

What Blue Owl does

Blue Owl Capital Inc. (NYSE: OWL) is a publicly listed alternative asset manager formed in 2021 through the merger of Owl Rock Capital Group and Dyal Capital Partners, headquartered in New York with global operations. The firm manages $315 billion in assets under management as of March 31, 2026 across three integrated investment platforms: Credit ($159.2 billion), Real Assets (encompassing net lease real estate, digital infrastructure, and healthcare real estate), and GP Strategic Capital (minority equity stakes in alternative asset managers). Within Real Assets, Blue Owl Digital Infrastructure (BODI) operates a 9+ year purpose-built hyperscale data center platform with 105+ assets across 35 global markets, complemented by newly launched Kirkwood Infrastructure Group for U.S. fiber and conduit.

Blue Owl monetizes through management fees tied to AUM and incentive fees tied to investment performance — Q1 2026 fee-related earnings reached $393.6 million, up 14% year-over-year, on $11.0 billion in new capital commitments during the quarter. Approximately 92% of AUM is permanent capital. The firm maintains dual distribution: institutional sales (pension funds, sovereign wealth funds, insurance companies, family offices) and Private Wealth (115+ professionals serving 118,000+ clients via BDCs, interval funds, and private REITs including OCIC, OTIC, OWLX, ODIT, ORENT, and OBDC, alongside channel partners such as Voya Financial). Key subsidiaries include Blue Owl Capital Corporation (OBDC), Blue Owl Technology Finance Corp. (OTF), Wellfleet Credit Partners, Sila Realty Trust, Stack Infrastructure, and Dyal HomeCourt Partners (minority stakes in six NBA franchises).

The customer base spans institutional investors, insurance companies seeking duration-matched credit/real assets, technology/growth companies requiring flexible non-bank financing (203 portfolio companies at $14.1 billion fair value under OTF), and accredited private wealth individuals. Recent strategic activity includes the $27.3 billion Meta data center JV (80% Blue Owl, 2 GW Louisiana campus), the $15 billion Crusoe AI data center JV (1.2 GW Abilene, Texas), the $2.4 billion Sila Realty Trust acquisition (137 healthcare net-lease properties), the £1.3 billion Spire Healthcare UK hospital portfolio acquisition alongside Moor Park Capital Partners, and the Kirkwood Infrastructure Group launch. Governance frictions include outstanding Girard Sharp and Halper Sadeh investigations into OBDE/OTF II merger consideration and the Sila transaction, plus a $3.6 billion (18.8% of shares) OCIC redemption request in Q2 2026.

Name

Blue Owl

Legal name

Blue Owl Capital Inc.

Website

https://blueowl.com

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Blue Owl Capital (NYSE: OWL) is a publicly listed New York-based alternative asset manager with $315 billion in AUM across Credit, Real Assets, and GP Strategic Capital platforms, serving institutional investors, insurance companies, private wealth clients, and growth technology companies.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282), Miscellaneous Business Credit Institution (6159), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)

akta.pro secondary industries

Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC), Corporate Strategic Real Assets & Infrastructure Venture Investing (FSANAHAN)

Keywords

• Private credit lending
• Alternative asset management
• Direct lending solutions
• Real estate investment
• Private equity solutions

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees (Fee-Related Earnings): Blue Owl earns management fees based on assets under management across its Credit, Real Assets, and GP Strategic Capital platforms. Fee-related earnings reached $393.6 million in Q1 2026, up 14% year-over-year. The firm reported $315 billion in AUM as of March 31, 2026. Management fees are typically charged as a percentage of NAV, drawn debt, uncalled commitments, or managed assets.
2. Incentive Fees / Performance Fees: Blue Owl earns incentive fees tied to investment performance, including 12.5% of total return above a 5% annualized hurdle and high-water mark on certain products like ODIT. The firm generates performance income from its investment portfolios across credit strategies and GP strategic capital stakes.
3. Origination and Structuring Fees: Blue Owl generates origination, commitment, and structuring fees through its direct lending and credit platforms by arranging financing solutions for portfolio companies, including leveraged buyouts, growth capital, and recapitalizations.
4. GP Minority Stake Income: Blue Owl's GP Strategic Capital platform generates recurring income from minority equity stakes in alternative asset managers, including management fee royalties, incentive fee participations, and strategic consulting arrangements with GP portfolio companies.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Blue Owl Capital is a publicly traded alternative asset manager that invests across three platforms: Credit (direct lending to middle-market and technology companies), Real Assets (net lease real estate, digital infrastructure including hyperscale data centers), and GP Strategic Capital (minority stakes in alternative asset managers). It manages $315 billion in assets under management and distributes products through institutional channels, financial advisors, and private wealth platforms.

Product overview

Blue Owl Capital is a global alternative asset manager offering a unified platform of private markets investment solutions across three core investment platforms: Credit, Real Assets, and GP Strategic Capital. The Credit platform encompasses direct lending (OCIC, OBDC) and technology-focused lending (OTF, OTIC) strategies, providing debt financing to middle-market companies. The Real Assets platform includes net lease (ORENT), digital infrastructure (ODIT, Kirkwood Infrastructure Group), and healthcare real estate (Sila Realty Trust). The GP Strategic Capital platform acquires minority stakes in alternative asset managers. Blue Owl also offers insurance solutions as a cross-platform capability. The firm serves institutional investors, financial advisors, growth tech companies, and private wealth clients, managing $315 billion in assets as of March 2026. Notable products include non-traded BDCs (OCIC, OTIC, OBDC), evergreen funds (OWLCX, ODIT, ORENT), and the Dyal HomeCourt Partners sports investment fund. Recent launches include Kirkwood Infrastructure Group for U.S. fiber/digital infrastructure (July 2026) and the completed acquisitions of Sila Realty Trust (healthcare net lease, July 2026) and the Spire Healthcare hospital portfolio (July 2026).

Differentiator

Problem solved

Functional benefit

Brands

• Owl Rock: Blue Owl's core direct lending and credit platform, integrated following the Wellfleet Credit Partners acquisition.
• Sila Realty Trust
• Kirkwood Infrastructure Group
• OBDC (Blue Owl Capital Corporation)
• OTF (Blue Owl Technology Finance Corp)
• OCIC (Blue Owl Credit Income Corp)
• OTIC (Blue Owl Technology Income Corp)
• OWLCX
• OREX
• ORENT (Blue Owl Real Estate Net Lease Trust)
• ODIT (Blue Owl Digital Infrastructure Trust)
• Dyal HomeCourt Partners
• Stack Infrastructure
• TALON
• The Nest

Products and services

• Blue Owl Credit Income Corp. (OCIC)

Quantifiable outcome

• $315 billion in AUM as of Q1 2026, representing 15% year-over-year growth
• +4 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Moor Park Capital PartnerscoreStrategic or Co-development Partner · 8 July 2026Blue Owl and Moor Park Capital Partners co-invested in the £1.3 billion acquisition of a 12-hospital portfolio from Spire Healthcare Group in the UK. The hospitals continue to be managed by Moor Park under Blue Owl's European Net Lease strategy, financed by a secured term loan from Standard Chartered Bank, Natixis, and Crédit Agricole CIB.
• South Reach NetworkscoreStrategic or Co-development Partner · 8 July 2026Kirkwood Infrastructure Group, a new wholly owned Blue Owl venture, integrated South Reach Networks' nearly 400 miles of fiber network and access to approximately 40 data centers. South Reach Networks was acquired by a Blue Owl fund in 2025. Kirkwood is building over 200 additional miles of conduit and fiber across Louisiana and Mississippi.
• Kirkwood Infrastructure Group (Wholly Owned)coreStrategic or Co-development Partner · 8 July 2026Blue Owl Capital launched Kirkwood Infrastructure Group as a wholly owned subsidiary to develop, own, and operate fiber and communications infrastructure for data centers and hyperscale customers across the United States. The venture consolidates Dark Fiber & Infrastructure and South Reach Networks under new leadership (CEO Scott Bergs, CFO Tim Leighton).
• Voya FinancialcoreChannel Partner/ Reseller/ Distributor · 7 July 2026Voya Financial expanded its Advisor Managed Accounts program to include Blue Owl's Alternative Credit CIT and Real Estate Net Lease CIT, enabling registered investment advisors to allocate to Blue Owl's private credit and real estate products within professionally managed retirement portfolios.
• SummitIGminorStrategic or Co-development Partner · 5 July 2026SummitIG completed the acquisition of Dark Fiber and Infrastructure (DF&I) from Blue Owl Capital funds, adding nearly 200 miles of conduit and dark fiber assets to SummitIG's existing network in Virginia and expanding into Maryland with approximately 60 miles of network stretching to Baltimore.
• CrusoecoreStrategic or Co-development Partner · 5 July 2026Blue Owl Capital and Primary Digital Infrastructure formed a $15 billion joint venture with Crusoe to develop a 1.2-gigawatt AI data center in Abilene, Texas. Crusoe is separately pursuing a $3 billion funding round that could value it at around $30 billion, with existing supply agreements with Meta Platforms and Oracle.
• Stack Infrastructure (Blue Owl-owned)coreStrategic or Co-development Partner · 24 June 2026Stack Infrastructure, a data center operator owned by Blue Owl Capital, is preparing to sell its Asia Pacific operations (Australia, Japan, Malaysia) valued at over $30 billion. Morgan Stanley and Deutsche Bank have been engaged as advisers. The portfolio spans five markets with combined capacity of nearly 1.1 gigawatts.
• Meta PlatformscoreStrategic or Co-development Partner · 15 June 2026Meta and Blue Owl Capital formed a $27.3 billion joint venture (Blue Owl holds 80%, Meta 20%) to build a 2-gigawatt data center campus in Louisiana. Meta secured 80% property tax reduction and offloads $27 billion in debt from its balance sheet, while Blue Owl provides the infrastructure financing and ownership.
• CorScale Data Centers / Affinius CapitalcoreStrategic or Co-development Partner · 11 June 2026Blue Owl provided $975 million balance sheet financing to a joint venture between Affinius Capital and Corscale Data Centers for Project Helios, a mission-critical data center in Northern Virginia's Prince William County. The facility is fully leased to an investment-grade cloud service provider under a long-term agreement.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Carlyle Group: Carlyle operates competing private credit, real assets, and GP solutions platforms, with similar institutional and private wealth distribution strategies. Both firms serve insurance companies and offer private credit BDCs.
• Apollo Global Management: Apollo is a leading alternative asset manager with massive private credit and real assets franchises, directly competing with Blue Owl in direct lending (Apollo Credit), real estate, and structured solutions. Both firms serve institutional and private wealth channels with similar alternative investment strategies.
• Ares Management: Ares is a direct competitor in private credit (Ares Credit Group) and real estate, with a similar strategy of serving both institutional investors and private wealth clients through BDCs and interval funds. Both firms emphasize direct lending origination and scaled distribution platforms.
• KKR & Co. KKR operates competing private credit, real assets, and GP stakes platforms, and similarly serves insurance companies (Global Atlantic) and private wealth clients through interval funds and BDCs. KKR's private wealth expansion mirrors Blue Owl's strategy.
• StepStone Group: StepStone is a specialist in private markets investments and GP stakes/secondaries, directly competing with Blue Owl's GP Strategic Capital platform and offering similar multi-manager investment solutions.
• Hamilton Lane: Hamilton Lane specializes in private markets advisory and fund-of-funds, competing with Blue Owl's GP Strategic Capital platform and offering private wealth solutions through similar structures.
• Bridge Investment Group: Bridge Investment Group is an alternative asset manager with overlapping real estate, private credit, and infrastructure strategies, competing for similar institutional and private wealth allocations.
• Oaktree Capital Management: Oaktree (now a Brookfield subsidiary) is a leading alternative investment manager with major credit and real assets franchises, directly competing with Blue Owl in private credit and special situations strategies.

Broad incumbents

• Blackstone: Blackstone is the largest alternative asset manager globally with overlapping strategies in private credit, real estate (including data centers), and GP minority stakes. Its scale and BDC/interval fund offerings directly compete with Blue Owl's product shelf.
• Brookfield Asset Management: Brookfield is a major alternative asset manager with significant overlap in real assets, infrastructure (including digital infrastructure), and private credit. Both firms compete for institutional capital in infrastructure and renewable energy strategies.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/blueowlcapital
• LinkedInlinkedin.com/company/blue-owl-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries11 records

Funding overview

Funding rounds7 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A10 records

Investments99 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Blue Owl