Blue Owl Capital Reports Q4 NII of $0.38, NAV $14.81 and Co-Leads $385m Vestwell Series E
Blue Owl reported Q4 GAAP NII of $0.38, NAV of $14.81 and repurchased $148m of stock, as board approved a new $300m buyback and Moody’s upgraded its credit to Baa2. It also co-led Vestwell’s $385m Series E funding, valuing the platform at $2bn.
1. Strong Q4 Financial Performance
Blue Owl delivered GAAP net investment income per share of $0.38 and adjusted NII of $0.36 in Q4, compared with $0.36 in the prior quarter. Dividends of $0.37 per share yielded 10.0%, while NAV per share stood at $14.81, down from $14.89, driven by credit-related markdowns partially offset by share repurchases.
2. Expanded Stock Buyback and Credit Upgrade
The company repurchased $148 million of its common stock at 86% of book value in Q4—the largest quarterly repurchase in its history—and the board authorized a new $300 million buyback program. In January, Moody’s upgraded Blue Owl’s credit rating to Baa2, reflecting improved liability management and credit profile.
3. Strategic Investment in Vestwell
Blue Owl co-led a $385 million Series E funding round for Vestwell at a $2 billion valuation, bringing the platform’s total capital raised to $660 million. Vestwell now serves over 2 million active users, manages $50 billion in assets and has surpassed $200 million in annual recurring revenue.