A leading BDC focused on lending to U.S. middle-market companies
Blue Owl Capital Corporation (NYSE: OBDC) is a specialty finance company and business development company (BDC) focused on providing direct lending solutions to U.S. middle-market companies. We seek to generate current income and, to a lesser extent, capital appreciation by targeting investment opportunities with favorable risk-adjusted returns, including senior secured, subordinated, or mezzanine loans and equity-related instruments. Our investment strategy is intended to generate favorable returns across credit cycles with an emphasis on preserving capital. Subject to board approval, we intend to pay a quarterly dividend and shareholders can learn more about our dividend history here.
OBDC is externally managed by Blue Owl Credit Advisors LLC, an indirect affiliate of Blue Owl Capital Inc. (NYSE: OWL) and a part of Blue Owl's Credit platform. Blue Owl's Credit platform, is a New York-based direct lending platform with approximately $84.6 billion of assets under management as of December 31, 2023. Blue Owl Credit’s team of investment professionals works with borrowers across industries and sectors with a focus on serving as the capital partner of choice for leading private companies. The relationship-oriented approach of Blue Owl's Credit platform 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.
Our investment approach
- We originate, execute, and manage debt and equity investments in predominantly U.S. middle-market companies
- We invest in senior secured or unsecured loans, subordinated loans or mezzanine loans and, to a lesser extent, equity-related securities and warrants
- We focus on first lien, unitranche, and second lien term loans
- We focus on long-term credit performance and principal protection
- We are long-term investors with the ability to provide sizeable commitments to facilitate transactions and support the growth-related needs of our borrowers
- We seek to provide certainty, speed, and transparency throughout the entire investment process
- We have the ability to lead or anchor debt financings of up to $1 billion across the Credit platform
Our investment criteria1
- Companies with earnings before interest expense, income tax expense, depreciation, and amortization, or “EBITDA,” between $10 million and $250 million annually and/or annual revenue of $50 million to $2.5 billion at the time of investment
- Established companies with positive cash flow
- Companies with strong competitive positioning in their industries
- Companies with experienced management teams
- Companies with diverse customer and supplier bases
- Investments with maturities typically between three and ten years
- Investments generally ranging in size between $20 million and $250 million
What do our portfolio companies use our capital for?
- Growth
- Acquisitions
- Market or product expansion
- Refinancings
- Recapitalizations
1. Not all of these criteria will be met or will be equally important in connection with each of our investments.