Blue Owl Capital (OWL) Investor presentation summary

Business overview and growth

• Manages $315 billion in assets across Credit, Real Assets, and GP Strategic Capital platforms, with a permanent capital base and global team of over 1,390 professionals.

• Achieved a 41% CAGR in AUM since public listing, growing from $62B in 2Q21 to $315B in 1Q26.

• Diversified strategies include direct lending, net lease, investment grade credit, digital infrastructure, and GP minority stakes.

• Embedded earnings power with $29.9B of AUM not yet paying fees, expected to drive ~$350M in future management fees.

Financial performance and stability

• AUM and FPAUM have grown over 4x since listing, with AUM rising from $62B to $315B and FPAUM from $43B to $188B.

• Fee-related earnings, management fees, and revenues have all grown at ~30% CAGR since listing.

• 100% of earnings are fee-related, with ~85% of management fees from permanent capital vehicles.

• Maintains a balance sheet light model with $1.3B in available liquidity and investment grade credit ratings (BBB/Baa2).

Credit platform

• Credit AUM reached $159.2B, with direct lending, alternative credit, investment grade credit, and liquid credit strategies.

• Over $195B in gross direct lending originations since inception, with 825+ deals closed and 160+ unique sponsors.

• Alternative Credit platform has a 20+ year track record and ~$30B invested capital, focusing on asset-based finance.