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May 3, 2022

Blue Owl Capital accelerates wealth push with $2bn private credit fund launch

Blue Owl Capital has launched a private-credit vehicle amid growing demand for investment opportunities amongst high-net-worth (HNW) individuals.

The fund, dubbed Owl Rock Technology Income Corp. (ORTIC), has raised approximately $534m and is launching with around $2bn in committed capital, including leverage.

Owl Rock, a division of Blue Owl, will oversee the fund.

According to the company, ORTIC will provide individual investors with “attractive current-income”.

Furthermore, it will seek to provide investors with the potential for capital appreciation by originating and making investments in technology-related companies based majorly in the US.

The fund will focus on debt as well as similar income producing securities in a bid to offer a differentiated opportunity for investors to invest in the technology space.

ORTIC is expected to capitalise on the strength of Owl Rock’s direct lending platform which has sourced proprietary investment opportunities with $51.2 bn in gross originations since its launch.

This is said to include more than $19bn in technology-related investments as of 31 December 2021.

Blue Owl CEO and co-founder Doug Ostrover and Blue Owl co-president and co-founder Marc Lipschultz said: “This access to the technology sector is especially important as we enter periods of increased market volatility.

“As the alternative asset management industry continues to broaden its reach beyond institutions, we look forward to leveraging our historical strength in the private wealth channels to remain a leader in providing institutional-quality solutions to meet the growing market demand for access to private investments.”

The launch comes as Blue Owl steps up its focus on retail investors after managing money for institutions for several years. Rivals Blackstone and Apollo Global Management also launched funds for individual investors recently.

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