Blue Owl Capital Corporation
Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded Business Development Company that provides direct lending, primarily senior secured floating-rate loans, to 230 U.S. middle-market companies across 30 industries within a $15.3 billion portfolio. It is externally managed within the broader Blue Owl Capital Inc. alternative asset management platform.
- Company typePublic
- Founded2015
- HeadquartersNew York, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Blue Owl Capital Corporation does
Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded Business Development Company (BDC) incorporated in Maryland that provides direct lending solutions to U.S. middle-market companies. As of March 31, 2026, the company managed a $15.3 billion investment portfolio across 230 portfolio companies in 30 industries, with 78% held in senior secured loans and 96% of debt investments at floating rates. The portfolio is directly originated by Blue Owl Credit's team of investment professionals, targeting upper-middle-market borrowers and financial sponsors executing leveraged buyouts, growth financings, recapitalizations, and refinancings.
The company is externally managed by Blue Owl Capital Group LLC, a subsidiary of Blue Owl Capital Inc. (NYSE: OWL), which oversees a broader $300 billion-plus alternative asset management platform. OBDC's product suite spans the publicly traded BDC common stock, fixed-income notes, capital return programs including a $300 million share repurchase authorization, and affiliated vehicles such as OBDC II, Blue Owl Technology Finance Corp. (OTF), and the OCIC/OTIC private credit funds. Revenue is generated primarily through interest income on the loan portfolio, supplemented by management and advisory fees paid to Blue Owl Credit Advisors LLC.
OBDC operates with a conservative balance sheet posture (1.13x leverage, $4 billion in available liquidity, Moody's Baa2 investment-grade rating) and has been actively expanding its footprint through the pending $2.4 billion acquisition of Sila Realty Trust, a $27 billion joint venture with Meta Platforms for AI data center development, and selective fintech investments. However, the company has faced headwinds including the permanent closure of OBDC II redemptions, a reduced quarterly dividend, a 25-26% stock price discount to NAV, and multiple securities investigations and shareholder lawsuits alleging inflated fund valuations.
Blue Owl Capital Corporation firmographics
Firmographics- Name
- Blue Owl Capital Corporation
- Legal name
- Blue Owl Capital Corporation
- Website
- https://www.owlrockcapitalcorporation.com
- Company type
- Public
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded Business Development Company that provides direct lending, primarily senior secured floating-rate loans, to 230 U.S. middle-market companies across 30 industries within a $15.3 billion portfolio. It is externally managed within the broader Blue Owl Capital Inc. alternative asset management platform.
- Ownership category
- akta.pro rank
Blue Owl Capital Corporation industry classification
Industry- Product category
- Business Development Company (BDC) / Direct Lending
- NAICS
- Depository Credit Intermediation (5221), Portfolio Management and Investment Advice (52394)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- BDC / Public Vehicle Venture Debt Providers (FSANAIAC)
- akta.pro secondary industries
- Private Placements (144A/Reg S/MTN) (FSACABAK), Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit) (BPAHAOAD), Asset-Backed Securities (ABS) (FSACACAA)
Keywords
Where Blue Owl Capital Corporation is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Markets served
Blue Owl Capital Corporation business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Others, Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income on Loan Portfolio: OBDC earns interest income on its $15.3 billion portfolio of direct loans to U.S. middle-market companies. The portfolio is predominantly floating-rate (96% of debt investments), meaning interest income fluctuates with base interest rates. Q1 2026 adjusted NII per share was $0.31.
- Bond Issuance: OBDC issues fixed-rate notes to institutional investors to fund operations and manage interest rate exposure. The company issued $400 million in 6.450% notes due September 15, 2028, with interest payable semiannually. These represent direct, general unsecured obligations.
- Management and Advisory Fees: As an externally managed BDC, OBDC pays advisory fees to Blue Owl Credit Advisors LLC, which rose 47% to $414.4 million in 2025 according to shareholder litigation claims, though the company disputes fee reasonableness.
- Capital Return Programs: OBDC generates returns for shareholders through quarterly dividends (reduced to $0.31 per share in Q2 2026 from $0.37) and share repurchases under a $300 million authorized buyback program. The company also executed $1.4 billion in loan sales to return capital.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Quarterly | Common Stock Dividend - NYSE listed |
| One time/ perpetual license | Semi-Annual | 6.450% Notes Due 2028 |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Blue Owl Capital Corporation product offering
Product offeringCore offering
Blue Owl Capital Corporation (NYSE: OBDC) is a specialty finance and business development company (BDC) that provides direct lending solutions to U.S. middle-market companies. The company's portfolio consists predominantly of senior secured loans directly originated by Blue Owl Credit's team of investment professionals, with $15.3 billion in fair value across 230 portfolio companies as of March 31, 2026.
Product overview
Blue Owl Capital Corporation (OBDC) operates as a specialty finance company providing direct lending solutions to U.S. middle-market companies. The company's primary product is its flagship publicly-traded BDC (OBDC), which offers senior secured loans across 230 portfolio companies with $15.3 billion in fair value. The broader product suite includes non-traded BDCs (OBDC II, OTF), private credit funds (OCIC, OTIC), and real estate investments through pending acquisitions. The company operates with a conservative balance sheet approach, 78% senior secured investments, and 96% floating rate debt investments. Products span from publicly-traded to non-traded vehicles serving institutional and retail investors.
Differentiator
Problem solved
Functional benefit
Products and services
- Blue Owl Capital Corporation (OBDC)
Quantifiable outcome
- Non-accrual rate improved to 1.0% at fair value and 2.0% at cost as of Q1 2026
- +3 more outcomes
Companies that use Blue Owl Capital Corporation
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles4 records
Blue Owl Capital Corporation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Blue Owl Capital Corporation partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Meta PlatformsmajorBlue Owl Capital established a $27 billion joint venture with Meta to develop the Hyperion data center campus in Louisiana. Funds managed by Blue Owl Capital hold an 80% stake in the JV, positioning the firm as a key infrastructure partner in AI-driven hyperscaler data center development. The transaction is part of Meta's broader $13 billion El Paso data center financing, with Morgan Stanley and JPMorgan Chase leading the debt package.
Scale indicators12 records
Recent moves8 records
Expansion highlights5 records
Blue Owl Capital Corporation competitors and assessment
Company assessmentDirect peers
- Ares Capital Corporation: The largest publicly traded U.S. BDC, providing senior secured direct lending to upper-middle-market companies sponsored by private equity. Closest comparable to OBDC on structure, asset class, and customer base.
- Golub Capital BDC: Publicly traded BDC focused on senior secured one-stop loans to U.S. middle-market companies, frequently partnering with private equity sponsors. Highly comparable origination model and borrower profile to OBDC.
- FS KKR Capital Corp: Publicly traded BDC sponsored by FS Investments and KKR Credit, providing direct senior secured loans to large U.S. private-equity-backed middle-market companies. Directly comparable scale and strategy.
- Sixth Street Specialty Lending: Externally managed BDC focused on floating-rate senior secured loans to middle-market companies, sponsored by Sixth Street. Closely matched to OBDC's senior-secured, floating-rate orientation.
- Oaktree Specialty Lending: Publicly traded BDC externally managed by Oaktree Capital Management, providing senior secured loans to middle-market borrowers. Comparable in structure, sponsor backing, and credit strategy.
- Main Street Capital: Publicly traded BDC focused on senior secured loans and direct equity investments to lower middle-market companies. Comparable externally advised structure, though skews smaller in borrower size.
- Bain Capital Specialty Finance: Externally managed BDC sponsored by Bain Capital Credit, providing senior secured loans to U.S. middle-market companies. Closely aligned to OBDC on sponsor relationships and underwriting approach.
- Hercules Capital: Publicly traded BDC focused on senior secured venture debt to technology and life sciences companies. Adjacent comparable given OBDC's software exposure and parent Blue Owl Technology Finance franchise.
- Carlyle Credit Income Fund: Non-traded BDC managed by Carlyle Global Credit, focused on U.S. middle-market direct lending. Comparable as a competitor non-traded vehicle within the broader private credit BDC universe.
Broad incumbents
- Blackstone Private Credit Fund: Blackstone's flagship non-traded private credit BDC, providing direct lending to middle-market borrowers. Compares to Blue Owl's broader non-traded BDC complex (OBDC II, OTIC, OCIC) rather than the listed OBDC entity.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Blue Owl Capital Corporation social profiles
Digital presenceBlue Owl Capital Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
Blue Owl Capital Corporation leadership team
Management profileNumber of profiles
Profiles8 records
Blue Owl Capital Corporation subsidiaries and ownership
Company hierarchySubsidiaries5 records
Blue Owl Capital Corporation funding detail
Funding detailFunding overview
Funding rounds3 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Blue Owl Capital Corporation M&A and investment
M&A and investmentM&A2 records
Investments49 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Blue Owl Capital Corporation
What does Blue Owl Capital Corporation do?
Blue Owl Capital Corporation (NYSE: OBDC) is a specialty finance and business development company (BDC) that provides direct lending solutions to U.S. middle-market companies. The company's portfolio consists predominantly of senior secured loans directly originated by Blue Owl Credit's team of investment professionals, with $15.3 billion in fair value across 230 portfolio companies as of March 31, 2026.
Is Blue Owl Capital Corporation a public or private company?
Blue Owl Capital Corporation is a public company. It is classified as public and is currently operating.
When was Blue Owl Capital Corporation founded?
Blue Owl Capital Corporation was founded in 2015. It employs 51 to 100 people.
Where is Blue Owl Capital Corporation based?
Blue Owl Capital Corporation is headquartered in New York, United States, in the North America region.
How does Blue Owl Capital Corporation make money?
Four revenue lines are on record. Interest Income on Loan Portfolio is the primary driver. The others are bond Issuance, management and Advisory Fees and capital Return Programs.
Who are Blue Owl Capital Corporation's main competitors?
Direct peers on record are Ares Capital Corporation, Golub Capital BDC, FS KKR Capital Corp, Sixth Street Specialty Lending, Oaktree Specialty Lending, Main Street Capital, Bain Capital Specialty Finance, Hercules Capital and Carlyle Credit Income Fund. Blackstone Private Credit Fund is listed as a broad incumbent.
Does Blue Owl Capital Corporation have an API?
No public API is recorded for Blue Owl Capital Corporation.
What industry is Blue Owl Capital Corporation in?
Blue Owl Capital Corporation's product category is Business Development Company (BDC) / Direct Lending. Its primary akta.pro industry code is FSANAIAC, BDC / Public Vehicle Venture Debt Providers, with a secondary code of FSACABAK, Private Placements (144A/Reg S/MTN). Its NAICS code is 5221 and its SIC code is 6159.