Blue Owl CFO says inflows to funds for wealthy individuals have "troughed"
OWL•
OWL•NEW YORK, July 30 (Reuters) - Blue Owl thinks flows into its funds for wealthy individuals will not get any lower after a harsh pullback among those investors, who had been a key driver of their growth, its chief financial officer said on Thursday.
"With wealth overall, we think we've troughed by way of inflows," Alan Kirshenbaum said on a conference call with analysts. He added the company was "cautiously optimistic" that requests to withdraw from its wealth-focused private credit funds would keep coming down, although he was not expecting a "V-shaped recovery" in sentiment around private credit.
Kirshenbaum said the company expected to beat consensus expectations for full-year earnings compiled by data provider Visible Alpha.
(Reporting by Isla Binnie in New York and Manya Saini in Bengaluru)