Our Adviser is committed to the consideration of material1 environmental, social and governance (“ESG”) issues in connection with its business operations and investment activities. We believe that incorporating material ESG factors into our Adviser’s corporate and investment practices has the potential to meaningfully contribute to our financial returns and shareholder value of the firm and of the organizations in which we invest.

Our Adviser’s Underlying Principles to Responsible Investing*


Responsible corporate behavior will have a positive influence on financial performance.


Our shareholders are focused on how our Adviser’s investment decisions create shareholder value while meeting their investment goals.


Our Adviser will seek to consider material ESG risks, mitigating factors and opportunities, that are likely to impact an investment from initial diligence; to ongoing portfolio management and construction; and ultimately, where relevant, exit.


Our Adviser encourages transparency and constructive dialogue within its investment process to uphold a responsible investment framework.


Our Adviser believes it is important to align with partners who invest responsibly, provide appropriate disclosure to our stakeholders, and offer support to our portfolio companies regarding responsible management practices when relevant.


Our Adviser is committed to working together as a firm to refine our responsible investing practices in an effort to continuously enhance our effectiveness over time and navigate the evolving landscape.


*Investment decisions are made by Owl Rock Capital Advisors LLC, our external adviser (our "Adviser"). The Adviser is an indirect subsidiary of Blue Owl Capital Inc. The ESG policies described herein are those of our Adviser and ultimate parent. The same information about those ESG policies can be found here:

[1] As used herein, “material” should not be equated to or taken as a representation about the “materiality” of any ESG issues or factors under the federal securities or other applicable laws.

ESG Investing Risk – Environmental, Social and Governance factors may inhibit a portfolio manager’s ability to participate in certain investment opportunities that otherwise would be consistent with its investment objective and other principal investment strategies. Underlying companies in a particular fund may not necessarily meet exemplary standards in all aspects of ESG performance; nor is any company perfect when it comes to corporate responsibility or sustainability.

The objective of funds raised by Blue Owl is to seek to maximize risk-adjusted returns consistent with the investment objective of the relevant Fund as set forth in the Partnership Agreement and Memorandum for such fund. ESG activities will generally be aimed at identifying or enhancing value opportunities or sought out in furtherance of pursuing favorable investment outcomes, in line with the investment objective of the relevant Fund.

This website should not be viewed in isolation; Blue Owl’s ESG Policy further describes important details and considerations regarding its ESG investing approach.

All investments are subject to risk, including the loss of the principal amount invested. This is for informational purposes only and is not an offer or a solicitation to sell or subscribe for any fund and does not constitute investment, legal, regulatory, business, tax, financial, accounting, or other advice or a recommendation regarding any securities of Owl Rock, of any fund or vehicle managed by Owl Rock, or of any other issuer of securities.

Past performance is not a guarantee of future results. The views expressed are Owl Rock’s views and may change without notice as market and other conditions change.

Transparency of Sustainability Risk Policy

Our Adviser is an indirect subsidiary of Blue Owl Capital Inc. (together with its affiliates “Blue Owl”) and observes the ESG and diversity, equity, and inclusion (DEI) policies of Blue Owl. Our Adviser integrates ESG factors into its investment process. When evaluating investment opportunities, our Adviser considers ESG risks associated with such opportunities as well as whether there are serious ESG or reputational concerns with regard to prospective portfolio companies or other assets. In particular, our Adviser evaluates material ESG risks, mitigating factors and opportunities applicable for the asset type (and the industry as a whole).

Based on each fund’s investment objective and investment strategy, our Adviser considers ESG risks to present a limited near-term impact on the returns of the funds that it manages, with greater impacts likely to be experienced over time. Our Adviser expects to implement mechanisms to identify material ESG issues in making investments in portfolio companies and to periodically evaluate whether such issues are likely to impact the returns of an investment and, consequently, the returns of the relevant fund. Please see our ESG Policy for more information.

No consideration of principal adverse sustainability impacts

Blue Owl has considered, and continues to consider, ESG factors in its investment process, but it does not consider adverse impacts of investment decisions on sustainability factors as specifically set out in Regulation 2019/2088 on sustainability-related disclosures in the financial services sector dated 27 November 2019 (SFDR). Blue Owl has chosen not to do so for the present time as it considers that its existing ESG policies and procedures are appropriate, proportional and tailored to the investment strategies of the funds that it manages. Blue Owl continues to closely monitor regulatory developments with respect to the SFDR and other applicable ESG-focused laws and regulations, including the implementation of related and secondary legislation and regulatory guidance, and will, where required or otherwise appropriate, make changes to its existing policies and procedures.

A Commitment to Corporate Governance

While we are managed by our Adviser on a day-to-day basis, overall responsibility for our oversight rests with our Board of Directors. Our Board is responsible for overseeing our Adviser and our other service providers in accordance with the provisions of the Investment Company Act of 1940, applicable provisions of state and other laws, and our charter. Our Board is currently composed of six members, five of whom are directors who are not “interested persons” of the Company or the Adviser as defined in the 1940 Act. Additional information about our directors may be found here.

Our Board has established an Audit Committee, a Nominating and Corporate Governance Committee, and a Compensation Committee, and may form additional committees in the future. Each committee is comprised solely of independent directors and the charters of the Audit, Nominating, Corporate Governance, and Compensation Committees can be found here.

We have adopted a Code of Business Conduct that applies to our executive officers, including our principal executive officer and principal financial officer, as well as every officer, director, and employee. Our Code of Business Conduct can be found here.

Our Board has also adopted Corporate Governance Guidelines which can be found here.

A Commitment to the Community

We and our Adviser are also committed to our community.

As an example, the Blue Owl Community Loan Program was established in June 2020 in response to the economic fallout from COVID-19. The mission was to provide interest free loans to small businesses, particularly minority-owned, upon observing the disparity in access to traditional financing methods. During the course of the two-year program, borrowers used this capital for a range of activities including growth initiatives, strategic acquisitions and funding working capital, experiencing average sales and employee growth of 42% and 29%, respectively.

A Commitment to Diversity & Inclusion

Our Adviser’s ESG efforts are further supported by a collective commitment to diversity, equity, and inclusion; read more about the firm’s approach in Blue Owl's latest DEI policy.