Blue Owl Capital said its assets under management reached a record $330bn in the third quarter, while stronger fee-related earnings helped the alternative asset manager beat profit expectations, according to Private Equity Wire. The firm reported adjusted distributable earnings of $0.24 per share for the three months to 30 September, compared with $0.22 a year earlier and above the $0.23 forecast by analysts, according to Private Equity Wire.
Q3 AUM and earnings
Blue Owl’s record $330bn AUM figure was reported for the third quarter, according to Private Equity Wire. The report said stronger fee-related earnings contributed to the company beating profit expectations. The firm’s shares rose nearly 5% in premarket trading following the results.
Fundraising and capital commitments
Blue Owl secured $12.6bn in new capital commitments during the quarter, bringing its trailing 12-month total to $48.8bn. The company said equity fundraising accounted for $10.2bn. Within that $10.2bn equity fundraising figure, the company reported $5.6bn from credit and $4bn from real assets. Co-CEOs Doug Ostrover and Marc Lipschultz said institutional fundraising reached a quarterly record and attributed that to a broader mix of strategies, investors and geographies.
Origination and deployment
The company reported direct lending originations totaling $5.2bn during the quarter. Blue Owl also said deployment fell by $300m.
Market backdrop and share performance
The report said the results came amid continued scrutiny of private credit exposure to technology borrowers and AI infrastructure. The report also stated that Blue Owl’s shares are down around 35% this year.
