About Owl Rock Capital Group

A Scaled Direct Lending Platform and Leading BDC Franchise

Owl Rock is the direct lending division of Blue Owl Capital Inc. (NYSE: OWL), a publicly traded alternative asset management firm. Owl Rock has over $68.6 billion of assets under management as of December 31, 2022 and is comprised of a team of seasoned investment professionals with significant and diverse experience from some of the world’s leading firms and financial institutions.

Owl Rock seeks to provide investors with attractive risk-adjusted returns by originating, executing, and managing investments, which include senior secured, subordinated, or mezzanine loans and equity-related instruments. The team works with borrowers across industries and sectors with a focus on serving as the capital partner of choice for leading private companies. Owl Rock’s relationship-oriented approach to investing can provide companies with sizeable commitments to facilitate transactions and support their growth needs with certainty, speed, and transparency throughout the entire investment process.

Owl Rock Capital Group

Indirect Subsidiary of Blue Owl Capital Inc. (NYSE: OWL)

Direct Lending Business | AUM: $68.6bn as of 12/31/22

Owl Rock Capital Advisors, LLC

External Manager of Owl Rock Capital Corporation

Owl Rock Capital Corporation

Publicly Traded BDC

NYSE/Bonds: ORCC

Advisory Agreement

Owl Rock By the Numbers

$68.6BN
Assets Under Management
95+
Investment Professionals
475+
Deals Closed
650+
Sponsor Relationships

As of Dec. 31, 2022 • 10-K

Approach & Capabilities

Investment Approach

Investment Approach

Our investment strategy focuses primarily on originating and making loans to, as well as making debt and equity investments in, U.S. middle-market companies.

We will invest in senior secured or unsecured loans, subordinated loans or mezzanine loans and, to a lesser extent, equity-related securities and warrants, prioritizing downside protection.

A Differentiated Experience

A Differentiated Experience

We are long-term investors with the ability to provide sizeable commitments to facilitate transactions and support the needs of our borrowers across industries. We have the ability to lead or anchor debt financings of up to $1 billion.

Investment Process

Deal Sourcing

An independent origination process with extensive network of industry contacts and portfolio company relationships

Deal Origination

Exhaustive review of financial information while working closely with private equity sponsors

Structuring & Diligence

Thorough review process focused on identifying and mitigating risk, including onsite visits and company management meetings

Investment Committee Review

Analysis of downside protection and preservation of capital with focus on asset coverage and collateral

Deal Approval

Review of business growth, deal terms and all credit agreements

Ongoing Monitoring

Proactive review process and regular contact with portfolio company management teams

Key Advantages to the Owl Rock Platform

Scale

  • $68.6 billion in assets under management as of December 31, 2022
  • Robust proprietary deal flow driven by an extensive network of private equity sponsors
  • Significant backing from highly sophisticated investors
  • Deep bench of experienced investment professionals

Alignment

  • Founder-led
  • Not affiliated with a controlling equity sponsor
  • Entire Owl Rock investment team is focused on direct lending
  • Relationship-oriented approach at all levels
  • Approximately $600 million committed to Owl Rock products by executives and employees

Track Record

  • Demonstrated ability to source proprietary investment opportunities
  • Exceptional credit performance across the platform
  • Manages four diversified lending BDCs and three technology-focused BDCs, including the third largest publicly traded BDC, Owl Rock Capital Corporation (NYSE: ORCC)

Experience

  • Founded in 2016 by Douglas Ostrover, Marc Lipschultz, and Craig Parker who previously held senior executive roles at GSO/Blackstone, KKR, and Goldman Sachs, respectively
  • Leadership has extensive experience building and managing investment businesses

Owl Rock’s Investment Strategies

Owl Rock has five complementary strategies that leverage existing origination and underwriting functions and primarily focus on private equity-sponsored deals and other corporate solutions.

Structure

  • Publicly Traded BDC
  • Private BDCs
  • Non-Traded BDCs
  • Limited Partnerships
  • Managed Accounts

Focus

  • Private equity sponsored companies and other corporate solutions
  • Directly originated senior secured, floating rate loans (first lien, second lien, unitranche) in U.S. companies

Structure

  • Private BDCs
  • Non-Traded BDC

Focus

  • Private equity and late-stage venture capital sponsored companies and other corporate solutions
  • Directly originated debt and equity investments in U.S. companies in the technology sector

Structure

  • Limited Partnership
  • Managed Accounts

Focus

  • Private equity sponsored companies and other corporate solutions
  • Directly originated senior secured, floating rate first lien in U.S. companies

Structure

  • Limited Partnership
  • Managed Accounts

Focus

  • Private equity sponsored companies and other corporate solutions
  • Directly originated debt and equity investments in U.S. companies facing challenges

Structure

  • CLOs
  • Managed Accounts

Focus

  • Private equity sponsored companies and other corporate solutions
  • Liquid market senior secured, floating rate first lien loans

Recent Transactions1

Tivity Health

STONE POINT

Access

HG CAPITAL, TA ASSOCIATES, GIC

ImperialDade

BAIN CAPITAL, ADVENT INTERNATIONAL

Kaseya

INSIGHT PARTNERS

Anaplan

THOMA BRAVO

Unified Women's Healthcare

ALTAS PARTNERS, ARES

PCF

PRIVATELY HELD

Appfire

TA ASSOCIATES, SILVERSMITH CAPITAL PARTNERS

Rubrik

PRIVATELY HELD

Associa

PRIVATELY HELD

1. Not every Owl Rock BDC participates in every deal.

Discover More About Blue Owl & Owl Rock’s Other BDCs

Visit the Blue Owl website for more information about Blue Owl and Owl Rock’s other BDCs.

Learn More About Blue Owl

Learn More About Owl Rock’s Other BDCs