Blue Owl’s unwise BDC merger rekindles liquidity risk worries
A bungled attempt by Blue Owl to merge two of its credit funds highlights the risks wealthy investors in non-listed debt vehicles run in trading off the promise of consistent returns for limited liquidity

AGL and Blue Owl issue new US CLOs
As issuance slows for the year, the managers priced deals via BNP Paribas and Bank of America

Leverage constraints, dividend potential was a driver in Blue Owl’s failed BDC merger
EXCLUSIVE: Investors in the nontraded BDC may have taken a hit to the share price as part of the original merger plan, but merging with the more leveraged listed BDC would have improved dividend yield

Florida, New Mexico systems commit hundreds of millions to direct lending
Florida commits USD 1bn to European direct lending; New Mexico allocates USD 450m at November meeting; Illinois, San Diego pensions also disclose recent commitments

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

Blue Owl BDC M&A termination highlights the cost of market timing
ANALYSIS: BDC mergers are a common tactic to provide immediate liquidity to investors in less liquid private credit funds, but Blue Owl’s attempt came after a tumble in listed BDC share prices

Blue Owl calls off BDC merger
The firm previously planned to merge its listed BDC, OBDC, with the nontraded BDC, Blue Owl Capital Corporation II

Watch out for the cockroaches
After the collapse of First Brands, some of the biggest hitters in global finance have been quick to argue that any bugs in the system won’t affect them — but are bad news for everyone else

Blue Owl completes Dyal IV strip sale, raises USD 2.7bn for GP stakes strategy
EXCLUSIVE: USD 2.5bn strip sale made up bulk of capital raised for GP stakes strategy; Dyal Capital Partners VI is now 35% deployed
 

First Brands bankruptcy seems to be a problem separate from private credit - Blue Owl
CEO Marc Lipschultz is not seeing an uptick in private credit defaults and says concerns around the asset class are misplaced

Blue Owl launches alternative credit fund for individual investors
The new product is structured as an interval fund and launched with USD 850m

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

Mid-market CLOs reduce premium over BSL spreads back to narrowest margin of 2025
ANALYSIS: Private credit CLO spreads are seeing rapid tightening, with the difference between BSL and mid-market triple A benchmarks having narrowed back to its tightest level seen this year

Blue Owl lowers private credit CLO spreads with USD 1bn new issue
Blue Owl has set new post-Liberation Day spread tights for mid-market issues with its latest print, a week after setting the previous low for triple As

Blue Owl prints tightest triple As in new middle-market CLO since Liberation Day
It’s the first middle market new issue of 2025 from the manager

Blue Owl raises USD 850m from wealth channel for asset-backed debt fund
Following the close of this private offering, the alternative credit manager will be able to offer this fund to a broader investor base in a typical interval fund format  

Blue Owl, Voya partner to bring private assets to US retirement accounts
The new private market products will be offered on Voya’s retirement platform, which oversees USD 630bn in defined contribution assets for more than 9m plan participants

Seven managers make up 90% of private credit fundraising – Morningstar
Over the last five years, Apollo alone accounted for 29% of all capital raised for private credit

Blue Owl reprices four-year-old US BSL CLO
The USD 328m partial refi was the manager's first BSL repricing of 2025

Blue Owl issues third Wise CLO of 2025
The capital stack for Wise CLO 2025-3 consisted entirely of A-letter-rated debt, with the triple As clearing at SOFR plus 135bps

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

Kayne Anderson to debut private BDC to tap affluent investors
EXCLUSIVE: Private BDCs, pioneered by some of the largest direct lenders in the market, are becoming a common vehicle across the private credit manager industry

Private credit will grow to take as much as 50% of the leveraged finance market: Blue Owl’s Craig Packer
PODCAST: The co-president of Blue Owl joined Creditflux managing editor Lisa Lee on the latest edition of the Credit Exchange podcast

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 prices new Wise CLO
The new-issue US BSL deal was the sixth in the manager’s ‘Wise’ series, and its second such print of the year