Blue Owl flagship fund withdrawal requests slow as private credit turmoil eases
OWL•Investors sought to withdraw $4.2 billion from two Blue Owl funds in third-quarter tender offers, down from $4.7 billion in the prior quarter; the funds will repurchase 5% of shares. Withdrawal requests at flagship OCIC fell to 16.8% from 18.8%, while requests at OTIC were 39%.
1. Requests ease at OCIC
Withdrawal requests at Blue Owl Credit Income Corp, a $35.1 billion flagship fund, fell to 16.8% in the third quarter from 18.8% in the prior quarter. The fund said most requests reflected investors resubmitting previously unfulfilled tenders; it will repurchase 5% of shares, the customary threshold for such vehicles.
2. OTIC requests remain high
Investors in Blue Owl Technology Income Corp sought to withdraw $1.1 billion, or 39% of shares, compared with $1.1 billion, or 38.1%, in the prior quarter. The fund said most requests were resubmissions of previously unfulfilled tenders. Its requests were above the 10% to 17% reported by the largest non-traded BDC managers in third-quarter tender offers.
