Blue Owl Capital Corporation (OBDC) Fireside chat summary

Introduction and agenda

• Discussion focused on the recent merger, preliminary Q4 results, and the evolution of the direct lending business.

• Participants included the CEO and CFO/COO, covering both strategic and operational perspectives.

Background and experience of the speaker

• The CEO has led the firm since its inception, overseeing significant growth in direct lending and BDCs.

• The firm was founded nearly a decade ago, with a vision to scale direct lending beyond middle market companies.

Current industry trends

• Direct lending has shifted toward larger companies and sponsors, with increasing capital and higher quality assets.

• Scale is now critical in private credit, with larger managers gaining market share and driving industry consolidation.

• Alternative credit and asset-based finance are expected to be major growth drivers over the next 5-10 years.