Blue Owl shares drop nearly 6% as market faces nontraded BDC “confusion”
Investors in the nontraded BDC OBDC II should be getting more money back after the announced portfolio sale yesterday, indicating that there might be “some confusion” in the market, KBRA said

Blue Owl saw strong demand for USD 1.4bn of direct loans sold to investors
Blue Owl expanded the number of BDCs that sold private credit positions, including internet and software loans, to North American institutional investors at 99.7% of par value 

Inflows for nontraded BDCs slow while redemptions rise – Fitch
The negative investor sentiment seen last year for listed BDCs now hits perpetual, non-traded BDCs

Blue Owl’s blunder and risk of retail investment dominate discussions at SuperReturn Private Credit
Blue Owl abandons OBDC and OBDC II merger plan due to market conditions; Retail investors pose risk to private credit, with potential for forced selling in downturn

Asset-based lending increasingly acts as private debt diversifier
Direct lender Bow River is the latest manager to acquire a lower middle market asset-based financing firm as investors seek to diversify existing private debt portfolios

Clearlake seals largest new direct lending deal for Dun & Bradstreet
Ares leads deal, taking USD 1.5bn; Morgan Stanley, Clearlake Capital Markets, Golub and Blue Owl also helped arrange the largest new unitranche ever

JPMorgan enters private credit big leagues with USD 4bn Boeing unit financing
EXCLUSIVE: The bank takes down the third-largest piece of the giant unitranche, lending shoulder-to-shoulder with direct-lending giants

Blue Owl raises more than USD 2bn for evergreen direct lending strategy
Blue Owl has raised more than USD 2bn for its sophomore direct lending fund that focuses on senior, first-lien loans

Blue Owl moves to launch direct lending business in Europe
US-based asset manager Blue Owl is looking to launch a direct lending business in Europe and is interviewing deal-markers in the regions

Blue Owl scoops up Atalaya Capital for USD 450m
Private credit manager Blue Owl Capital is raising the stakes on its place in the USD 1.7trn global market with the purchase of asset-based credit specialist Atalaya Capital

Texas-based pension system commits USD 90m to direct lending fund
The City of Austin City Employees' Retirement System, or COAERS, has committed USD 90m to the Blue Owl Diversified Lending Fund

Florida-based pension commits USD 20 million to direct lending fund
The Jacksonville, Fla. Police and Fire Pension Fund approved a USD 20m commitment to a diversified lending fund

Direct lending firm hires partner from Blue Owl
The newest addition to the team will focus on product and business development

Abu Dhabi-based sovereign investors put $1 billion into tech-focused credit platform
Abu Dhabi-based sovereign investor forms strategic partnership with US asset manager as it focuses on technology lending strategy

Calpers allocates $2.75 billion to two credit managers
US pension heavyweight California Public Employees Retirement System earmarked $3 billion to credit funds in the third quarter of 2022, according to recent board materials 

Credit funds at a glance (October 2022)
A round up of fundraising and people moves in credit
 

   

LP round up: $2.7bn flows to 20 credit managers as investors battle PE overallocation
Investors faced huge headwinds in September with inflation, rising interest rates, and geopolitical turmoil, alongside the UK gilts sell-off at month end

Michigan pension pledges over $1 billion to three US credit managers
Michigan Retirement System has pledged just over $1 billion to three credit managers

LP round up: Oak Hill wins $3bn mandate as credit allocations near $10bn in March
Institutional investors revealed over $9.5 billion of allocations to credit funds in March. Oak Hill Advisors walked away with the largest mandate, as US heavyweight pension Calpers allocated a whopping $3 billion across several of its funds

US pensions assign $1.5 billion to 16 credit managers in December
US public pensions rounded off 2021 by gifting credit managers around $1.5 billion in commitments, according to documents seen by Creditflux

Blue Owl hires BlackRock veteran for private wealth role
Blue Owl Capital has hired a managing director and head of North American distribution from BlackRock

LP round up: no Stoptober as investors allocate $5 billion to credit
US institutional investors allocated $5 billion to credit funds in October, with Oak Hill and Pimco among the biggest mandates    

Credit Fundraising: Blue Owl and WhiteHorse gain from improving animal spirits
Fundraising perked up in July as managers raised $14.9 billion for credit funds - the third highest monthly amount this year

Blue Owl closes $2 billion debut opportunistic credit fund
Blue Owl has closed its inaugural credit opportunities fund, Owl Rock Opportunistic Fund at its $2 billion target

Golub follows Sixth Street by suing Dyal over Owl Rock merger
Dyal Capital’s merger with Owl Rock faces growing opposition with Golub Capital filing a lawsuit