NEW YORK, Aug. 10, 2021 /PRNewswire/ -- Blue Owl Capital Inc. (NYSE:OWL) today reported its financial results for the second quarter ended June 30, 2021.
GAAP net loss attributable to Blue Owl Capital Inc. was $(397.2) million, or $(1.21) per basic and $(1.23) per diluted Class A Share, for the quarter ended June 30, 2021.
Adjusted Distributable Earnings were $108.4 million, or $0.09 per Adjusted Share, for the quarter ended June 30, 2021, and Adjusted Fee-related Earnings were $130.1 million, or $0.10 per Adjusted Share, for the quarter ended June 30, 2021.
Doug Ostrover, CEO of Blue Owl, said: "We are pleased to report Blue Owl's strong financial results for the second quarter of 2021. We continued to deliver differentiated investment performance to our fund investors and provided flexible capital solutions to our borrowers, sponsor partners and Partner Manager firms. Blue Owl reached $62.4 billion of assets under management during the quarter, reflecting an increase of 8% from the prior quarter, and notably, 97% of our management fees are from Permanent Capital. We continued to deploy capital at a robust pace, including a record $5.1 billion of gross deployment in Direct Lending during the quarter, and momentum remains high across the Blue Owl platform."
Blue Owl declared a quarterly dividend of $0.04 per Class A Share (which represents a half-quarter dividend for 2Q'21), payable on September 8, 2021 to shareholders of record at the close of business on August 24, 2021.
Quarterly Investor Call Details
Blue Owl will host its second quarter 2021 investor call via public webcast on August 10, 2021 at 8:30 a.m. ET. To register, please visit the Investor Resources section of Blue Owl's website at https://ir.blueowl.com. For those unable to listen to the live broadcast, there will be a webcast replay available on the Investor Resources section of Blue Owl's website.
About Blue Owl
Blue Owl is an alternative asset manager that provides investors access to Direct Lending and GP Capital Solutions strategies through a variety of products. The firm's breadth of offerings and permanent capital base enables it to offer a differentiated, holistic platform of capital solutions to participants throughout the private market ecosystem, including alternative asset managers and private middle market corporations. The firm had approximately $62.4 billion of assets under management as of June 30, 2021. Blue Owl's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. Blue Owl has approximately 250 employees across its Direct Lending and GP Capital Solutions divisions and has six offices globally. For more information, please visit us at www.blueowl.com.
Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "would," "should," "future," "propose," "target," "goal," "objective," "outlook" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blue Owl's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Any such forward-looking statements are made pursuant to the safe harbor provisions available under applicable securities laws and speak only as of the date of this presentation. Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law.
Important factors, among others, that may affect actual results or outcomes include the inability to recognize the anticipated benefits of the Business Combination; costs related to the recently completed business combination; Blue Owl's ability to manage growth; Blue Owl's ability to execute its business plan and meet its projections; potential litigation involving Blue Owl; changes in applicable laws or regulations; the possibility that Blue Owl may be adversely affected by other economic, business, and competitive factors; the impact of the continuing COVID-19 pandemic on Blue Owl's business as well as those factors described in the "Risk Factors" section of our filings with the Securities and Exchange Commission ("SEC").
The information contained in this presentation is summary information that is intended to be considered in the context of Blue Owl's SEC filings and other public announcements that Blue Owl may make, by press release or otherwise, from time to time. Blue Owl also uses its website to distribute company information, including assets under management and performance information, and such information may be deemed material. Accordingly, investors should monitor Blue Owl's website (www.blueowl.com). Blue Owl undertakes no duty or obligation to publicly update or revise the forward-looking statements or other information contained in this presentation. These materials contain information about Blue Owl and its affiliates and certain of their respective personnel and affiliates, information about their respective historical performance and general information about the market. You should not view information related to the past performance of Blue Owl or information about the market, as indicative of future results, the achievement of which cannot be assured.
Head of Investor Relations
David Wells / Josh Clarkson
SOURCE Blue Owl Capital