Financial Performance - Net income attributable to Blue Owl Capital Inc. for Q1 2025 was $7.43 million, a decrease of 70.5% from $25.09 million in Q1 2024[23]. - Total revenues for the three months ended March 31, 2025, increased to $683.5 million, up $170.1 million or 33.1% from $513.3 million in the same period of 2024[80]. - Consolidated net income attributable to Blue Owl Capital Inc. was $7.4 million, a decrease of $17.7 million or 70.5% from $25.1 million in the same quarter of 2024[80]. - Total stockholders' equity attributable to Blue Owl Capital Inc. increased to $2.3 billion, compared to $2.1 billion at the end of 2024[170]. - The company reported comprehensive income of $29,240,000 for the three months ended March 31, 2025, down from $86,922,000 in the same period of 2024, a decrease of 66.38%[179]. Revenue and Earnings - Fee-related earnings increased to $345.39 million in Q1 2025, up 19.2% from $289.70 million in Q1 2024[23]. - Distributable Earnings (DE) for Q1 2025 reached $262,516,000, compared to $240,099,000 in Q1 2024, marking an increase of about 9.3%[93]. - Total FRE revenues for Q1 2025 were $620,192,000, a significant rise from $486,548,000 in Q1 2024, representing a growth of approximately 27.5%[94]. - Management fees increased by $156.3 million, driven by growth in Credit products ($83.6 million) and Real Assets products ($68.1 million), including $52.2 million from the IPI Acquisition[81]. - Management fees, net, increased to $604.2 million, up 34.9% from $447.9 million year-over-year[173]. Assets and Capital Management - Assets under management (AUM) reached $273.3 billion as of March 31, 2025, with fee-paying AUM (FPAUM) at $174.6 billion[26][27]. - The company raised $10.7 billion in capital during Q1 2025, contributing to a total of $48.6 billion raised over the last twelve months[30]. - The company has $23.4 billion in AUM not yet paying fees, which could generate an additional $289 million in annualized management fees once deployed[27][41]. - The total assets as of March 31, 2025, were $12.3 billion, an increase from $11.0 billion at the end of 2024[170]. - The total net debt commitments increased by $1.4 billion, primarily in direct lending, reflecting the company's strategic leverage management[53]. Expenses and Costs - Total expenses rose to $606.2 million, an increase of $248.5 million or 69.5% compared to $357.7 million in the prior year[80]. - Compensation and benefits expenses increased by $101.1 million, primarily due to higher employee compensation and increased headcount[87]. - The increase in FRE general, administrative, and other expenses was attributed to higher operating expenses due to continued growth[97]. - Compensation and benefits expenses increased to $325.9 million, up 45.0% from $224.8 million year-over-year[173]. Acquisitions and Strategic Initiatives - The IPI Acquisition completed on January 3, 2025, added $14.2 billion to AUM and enhanced Blue Owl's digital infrastructure strategy[24][49]. - The company plans to pursue strategic acquisitions to accelerate growth and broaden product offerings, focusing on enhancing existing capabilities[37]. - The company completed a merger on January 13, 2025, which is expected to enhance its market position, although the financial impact is presented on a quarter lag[58]. - The total consideration for the IPI Acquisition amounted to $1,305.7 million, which includes $922.2 million in equity consideration and $243.4 million in cash consideration[216]. Cash Flow and Liquidity - Net cash provided by operating activities decreased by $29.7 million to $17.6 million for the three months ended March 31, 2025, compared to $47.2 million in the prior year[126]. - Cash flows from investing activities for the three months ended March 31, 2025, were primarily related to cash consideration paid for the IPI Acquisition, totaling $197 million[129]. - The company ended Q1 2025 with $97.6 million in cash and cash equivalents and approximately $1.0 billion available under its Revolving Credit Facility[103]. - The company anticipates that its current liquidity position will be sufficient to meet working capital needs for at least the next 12 months[103]. Market Conditions and Risks - Adverse market conditions, including inflation and interest rate increases, may negatively impact the company's liquidity and cash flows from management fees[125]. - There have been no material changes to the risk factors previously disclosed in the Annual Report as of the date of this report[156]. Shareholder Returns - For the first quarter of 2025, the company declared a dividend of $0.225 per Class A Share, with a target annual dividend of $0.90 per Class A Share for fiscal year 2025[118]. - Cash dividends paid per Class A share increased to $0.18 in 2025 from $0.14 in 2024, representing a 28.57% increase[179]. - The company authorized a share repurchase program of up to $150 million for Class A Shares, which may be executed through various transaction methods until February 28, 2027[113].

Financial Data and Key Metrics Changes - The company reported fee-related earnings (FRE) of $0.23 per share and distributable earnings (DE) of $0.21 per share for Q4 2024, with full-year FRE at $0.86 and DE at $0.77 per share [8][9] - For the last twelve months, management fees increased by 31%, FRE grew by 23%, and DE rose by 20% [36][23] - The company raised $6.7 billion in equity in Q1 2025 and $29.4 billion over the last twelve months, marking a 76% increase from the prior year [37][23] Business Line Data and Key Metrics Changes - In direct lending, gross origination was nearly $13 billion, with net origination over $4.5 billion for the quarter, more than double the previous quarter's net origination [26][27] - The net lease strategy saw a record quarter of commitments totaling $3.8 billion, with commitments over the last twelve months reaching $8 billion at an average cap rate of roughly 8% [46][32] - The alternative credit portfolio generated gross returns of 6.1% in Q1 and 15.2% over the last twelve months [44] Market Data and Key Metrics Changes - The company raised over $6.5 billion in the first quarter, with $4 billion raised in private wealth, primarily across perpetually distributed products and GP stakes [25][37] - The company noted a significant increase in fundraising from institutional channels, with expectations for stronger fundraising in Q2, Q3, and Q4 due to flagship fund launches [76][78] Company Strategy and Development Direction - The company is focused on innovation, diversification, and scale, with a strategy aimed at downside protection, income generation, and inflation protection [11][19] - The merger of OTF and OTF2 is expected to drive approximately $135 million of incremental annual management fees, enhancing revenue visibility [21] - The company is actively pursuing opportunities in alternative credit and digital infrastructure, anticipating increased market share as traditional markets face challenges [30][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience amid economic uncertainties, highlighting the defensive nature of its business model [18][50] - The company expects to see increased demand for private credit solutions as traditional markets face volatility, with a focus on maintaining strong credit quality [27][92] - Management anticipates a narrowing gap between FRE growth and FRE per share growth, projecting 20% growth in FRE per share over the next five years [58] Other Important Information - The company declared an annual fixed dividend of $0.90 for 2025, a 25% increase from the prior year [9] - The company has over $23 billion of assets under management (AUM) that will begin to pay management fees once capital is deployed, driving an incremental $290 million of revenue [21] Q&A Session Summary Question: How to bridge the gap from stable growth to better earnings per share growth? - Management acknowledged a gap between FRE growth and FRE per share growth due to acquisitions, expecting this gap to narrow as they progress [56][58] Question: Evolution of retail investors' behavior during volatility? - Management noted that retail investors are increasingly recognizing the benefits of stable, income-oriented products during volatile periods, leading to optimism about future adoption [61][65] Question: Drivers behind expected acceleration in institutional business? - Management highlighted the launch of flagship funds and new products as key drivers for expected acceleration in institutional fundraising [76][78] Question: Decline in GP stakes fees relative to AUM growth? - Management explained that the decline was due to a fee step down and catch-up fees from the previous quarter, indicating a clean quarter for management fees [82][84] Question: Spread and pricing dynamics in the market? - Management indicated that dislocated environments are beneficial for the company, with expectations for spreads to widen as competition in the public market decreases [88][92]

Financial Data and Key Metrics Changes - The company reported a 31% increase in management fees, with approximately 90% derived from permanent capital vehicles [35] - Fee-related earnings (FRE) grew by 23%, while distributable earnings (DE) increased by 20% on a last twelve months (LTM) basis [35][23] - The company raised $6.7 billion in equity during the first quarter and $29.4 billion over the last twelve months, marking a 76% increase from the prior year [36] Business Line Data and Key Metrics Changes - In direct lending, gross origination reached nearly $13 billion, with net origination over $4.5 billion for the quarter, more than double the previous quarter's net origination [26] - The direct lending portfolio gross returns were 3.1% in the first quarter and 13.3% over the last twelve months [39] - The net lease strategy saw a record quarter of commitments totaling $3.8 billion, with commitments over the last twelve months reaching $8 billion at an average cap rate of roughly 8% [46] Market Data and Key Metrics Changes - The company raised over $6.5 billion in the first quarter, with $4 billion raised in private wealth, primarily across perpetually distributed products and GP stakes [25] - The company noted a significant increase in investor interest in alternative credit solutions, particularly as traditional securitization markets face challenges [22] Company Strategy and Development Direction - The company is focused on innovation, diversification, and scale, aligning with the ongoing evolution of the alternatives industry [11] - The strategy emphasizes downside protection, income generation, and inflation protection, which are particularly valuable in volatile markets [18] - The company aims to leverage its permanent capital model to provide stability and predictability in uncertain economic environments [49] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate current market volatility, citing a strong track record of performance during previous disruptions [16] - The company anticipates continued growth in FRE per share, expecting to narrow the gap between FRE growth and FRE per share growth over the next few years [56] - Management highlighted the defensive nature of their business model, which is expected to perform well even in challenging economic conditions [50] Other Important Information - The company completed the merger of OTF and OTF2, positioning OTF as the largest technology-focused BDC in the public market, which is expected to drive additional management fees [20] - The company has over $23 billion of assets under management (AUM) that will begin to pay management fees once capital is deployed, potentially driving an incremental $290 million in revenue [19] Q&A Session Summary Question: How to bridge the gap from stable growth to better earnings per share growth? - Management acknowledged a gap between FRE growth and FRE per share growth due to acquisitions and expects this gap to narrow in the coming years, targeting 20% growth in FRE per share over the next five years [55][56] Question: Evolution of retail investors' behavior during volatility? - Management noted that retail investors are increasingly recognizing the benefits of stability and predictability offered by Blue Owl products, especially during volatile periods [60][64] Question: Drivers for expected acceleration in institutional business? - Management highlighted the launch of flagship funds and new products as key drivers for anticipated growth in institutional fundraising throughout the year [68][76] Question: Dynamics of GP stakes fees and future run rate? - Management explained that the decline in GP stakes fees was due to a fee step down and catch-up fees from the previous quarter, indicating a clean quarter for management fees [84][86] Question: Spread and pricing dynamics in the market? - Management indicated that dislocated environments are beneficial for the company, with expectations for spreads to widen as competition in the public market diminishes [90][95]

Core Insights - Blue Owl Capital Inc. reported quarterly earnings of $0.17 per share, missing the Zacks Consensus Estimate of $0.19 per share, representing an earnings surprise of -10.53% [1] - The company posted revenues of $620.19 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 3.03%, compared to year-ago revenues of $486.55 million [2] - Blue Owl Capital shares have declined approximately 20.3% since the beginning of the year, contrasting with the S&P 500's decline of -5.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.21 on revenues of $666 million, and for the current fiscal year, it is $0.89 on revenues of $2.77 billion [7] - The estimate revisions trend for Blue Owl Capital is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Financial - Investment Management industry, to which Blue Owl Capital belongs, is currently in the bottom 13% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact investor sentiment [5]

Financial Highlights - Blue Owl's AUM reached $273.3 billion as of March 31, 2025, a 57% increase since March 31, 2024[3,24] - Fee-Paying AUM (FPAUM) totaled $174.6 billion, up 66% since March 31, 2024[24] - Permanent Capital reached $196.1 billion, a 42% increase since March 31, 2024, generating 89% of management fees over the last twelve months[24,37] - GAAP Net Income attributable to Blue Owl Capital Inc was $7.4 million, or $0.01 per basic Class A Share[24,25] - Fee-Related Earnings (FRE) were $345.4 million, or $0.22 per Adjusted Share[24] - Distributable Earnings (DE) were $262.5 million, or $0.17 per Adjusted Share[24] Revenue Growth - GAAP Management Fees for the last twelve months were $2150.4 million, a 33% increase compared to the prior year[25,28] - FRE Management Fees for the last twelve months were $2175.0 million, a 31% increase compared to the prior year[31,34] - FRE Revenues for the last twelve months were $2304.2 million, a 30% increase compared to the prior year[30,31] Fundraising - New Capital Commitments Raised totaled $10.7 billion in the quarter and $48.6 billion over the last twelve months[24,40] - Total Equity Fundraise was $6.7 billion in the quarter, driven by Credit ($4.0 billion), Real Assets ($2.2 billion), and GP Strategic Capital ($0.6 billion)[24,40]

[Blue Owl Overview](index=7&type=section&id=Blue%20Owl%20Overview) [Company and Platform Overview](index=7&type=section&id=Blue%20Owl%20Overview) As of March 31, 2025, Blue Owl is a leading alternative asset manager with $273 billion in assets under management, operating across three primary multi-strategy platforms - Blue Owl operates three main investment platforms: Credit, GP Strategic Capital, and Real Assets[22](index=22&type=chunk) Platform Assets Under Management (As of March 31, 2025) | Platform | Assets Under Management (AUM) (in billions) | | :--- | :--- | | Credit | $139.2 | | GP Strategic Capital | $67.0 | | Real Assets | $67.1 | - The company's strategic focus includes providing private capital solutions for long-term growth, with each platform having a distinct investment approach, such as direct lending in Credit, minority equity solutions in GP Strategic Capital, and net lease investments in Real Assets[24](index=24&type=chunk) [First Quarter 2025 Highlights](index=9&type=section&id=First%20Quarter%202025%20Highlights) [Q1 2025 Performance Summary](index=11&type=section&id=First%20Quarter%202025%20Highlights) In Q1 2025, Blue Owl reported Fee-Related Earnings of $345.4 million and Distributable Earnings of $262.5 million, with AUM reaching $273.3 billion, a 57% year-over-year increase Q1 2025 Financial & Capital Metrics | Metric | Value | YoY Change | | :--- | :--- | :--- | | **Financial Results** | | | | Fee-Related Earnings | $345.4 million | - | | Distributable Earnings | $262.5 million | - | | FRE per Adjusted Share | $0.22 | - | | DE per Adjusted Share | $0.17 | - | | **Capital Metrics** | | | | Assets Under Management (AUM) | $273.3 billion | +57% | | Fee-Paying AUM (FPAUM) | $174.6 billion | +66% | | Permanent Capital | $196.1 billion | +42% | | New Capital Commitments Raised | $10.7 billion | - | - The company has **$23.4 billion** in AUM not yet paying fees, which is expected to generate **$289 million** in annual management fees once deployed[30](index=30&type=chunk) - Corporate developments include the closure of the IPI Acquisition on January 3, 2025, which added approximately **$14.2 billion** in AUM, and a **25% increase** in the annual dividend for 2025 to **$0.90 per Class A Share**[30](index=30&type=chunk) [Financial Performance](index=13&type=section&id=Financial%20Performance) [GAAP Financial Results](index=13&type=section&id=GAAP%20Financial%20Results) For Q1 2025, Blue Owl's GAAP revenues increased 33% year-over-year to $683.5 million, while GAAP Net Income attributable to Blue Owl Capital Inc. declined by 70% to $7.4 million GAAP Results (Quarter Ended) | (dollars in thousands) | 1Q'25 | 1Q'24 | % Change | | :--- | :--- | :--- | :--- | | Management Fees, Net | $604,186 | $447,898 | 35% | | **Total GAAP Revenues** | **$683,486** | **$513,340** | **33%** | | **Total GAAP Expenses** | **$606,192** | **$357,734** | **69%** | | **GAAP Net Income Attributable to Blue Owl** | **$7,430** | **$25,091** | **(70%)** | | Basic Earnings per Class A Share | $0.01 | $0.05 | - | GAAP Results (Last Twelve Months) | (dollars in thousands) | LTM 1Q'25 | LTM 1Q'24 | % Change | | :--- | :--- | :--- | :--- | | **Total GAAP Revenues** | **$2,465,573** | **$1,853,962** | **33%** | | **GAAP Net Income Attributable to Blue Owl** | **$91,923** | **$71,117** | **29%** | - For the last twelve months ending Q1 2025, GAAP management fees increased **33%** to **$2.15 billion**, and GAAP Consolidated Net Income was **$345.1 million**[37](index=37&type=chunk) [Non-GAAP Financial Results](index=17&type=section&id=Non-GAAP%20Financial%20Results) Blue Owl achieved its 16th consecutive quarter of sequential growth in both FRE management fees and Fee-Related Earnings (FRE), with Q1 2025 FRE rising 19% year-over-year to $345.4 million - The company has recorded its **16th consecutive quarter** of sequential growth for both FRE management fees and Fee-Related Earnings (FRE)[39](index=39&type=chunk) Non-GAAP Results (Quarter Ended) | (dollars in thousands) | 1Q'25 | 1Q'24 | % Change | | :--- | :--- | :--- | :--- | | FRE Revenues | $620,192 | $486,548 | 27% | | **Fee-Related Earnings (FRE)** | **$345,391** | **$289,698** | **19%** | | **Distributable Earnings (DE)** | **$262,516** | **$240,099** | **9%** | | FRE per Adjusted Share | $0.22 | $0.20 | - | | DE per Adjusted Share | $0.17 | $0.17 | - | Non-GAAP Results (Last Twelve Months) | (dollars in millions) | LTM 1Q'25 | LTM 1Q'24 | % Change | | :--- | :--- | :--- | :--- | | FRE Revenues | $2,304.2 | $1,769.6 | 30% | | **Fee-Related Earnings (FRE)** | **$1,309.1** | **$1,061.5** | **23%** | | **Distributable Earnings (DE)** | **$1,151.7** | **$958.9** | **20%** | [Key Business Metrics](index=23&type=section&id=Key%20Business%20Metrics) [Assets Under Management (AUM)](index=23&type=section&id=Assets%20Under%20Management) As of March 31, 2025, Blue Owl's Assets Under Management (AUM) grew 57% year-over-year to $273.3 billion, driven by strategic acquisitions and strong capital raising AUM, FPAUM, and Permanent Capital Growth (YoY) | (dollars in billions) | 1Q'25 | 1Q'24 | % Change | | :--- | :--- | :--- | :--- | | Assets Under Management (AUM) | $273.3 | $174.3 | 57% | | Fee-Paying AUM (FPAUM) | $174.6 | $105.4 | 66% | | Permanent Capital | $196.1 | $138.1 | 42% | - Growth was primarily driven by the Kuvare, IPI, Prima, and Atalaya acquisitions, as well as capital raised and deployment, particularly in the Credit platform[52](index=52&type=chunk) - AUM Not Yet Paying Fees totaled **$23.4 billion**, which is expected to generate **$289 million** in annual FRE management fees once deployed[52](index=52&type=chunk) - Permanent capital constituted **89%** of management fees over the last twelve months[52](index=52&type=chunk) [Fundraising](index=25&type=section&id=Fundraising) Blue Owl demonstrated robust fundraising capabilities in Q1 2025, raising $10.7 billion in new capital commitments, with significant contributions from private wealth and institutional channels - Raised **$10.7 billion** in new capital commitments in Q1 2025 and **$48.6 billion** over the last twelve months[57](index=57&type=chunk) Total Equity Fundraise by Platform (Q1 2025) | Platform | Equity Raised (in billions) | | :--- | :--- | | Credit | $4.0 | | Real Assets | $2.2 | | GP Strategic Capital | $0.6 | | **Total** | **$6.7** | - Private Wealth channels contributed **$3.7 billion** in equity fundraising during the quarter, while Institutional channels contributed **$3.0 billion**[57](index=57&type=chunk) [Credit Platform](index=27&type=section&id=Credit%20Platform) The Credit platform's AUM reached $139.2 billion, a 53% year-over-year increase, driven by acquisitions and strong capital raising in direct lending Credit Platform AUM & FPAUM (YoY) | (dollars in billions) | 1Q'25 | 1Q'24 | % Change | | :--- | :--- | :--- | :--- | | AUM | $139.2 | $91.3 | 53% | | FPAUM | $92.9 | $58.8 | 58% | - Direct Lending Originations were **$12.8 billion** for the quarter and **$55.8 billion** for the last twelve months, with net deployment of **$4.5 billion** and **$18.2 billion**, respectively[62](index=62&type=chunk) Strategy Gross Returns (Q1 2025) | Strategy | Q1'25 Gross Return | LTM Gross Return | | :--- | :--- | :--- | | Direct Lending | 3.1% | 13.3% | | Alternative Credit | 6.1% | 15.2% | [GP Strategic Capital Platform](index=29&type=section&id=GP%20Strategic%20Capital%20Platform) The GP Strategic Capital platform's AUM grew 20% year-over-year to $67.0 billion, primarily fueled by capital raised for its sixth flagship minority equity stakes product and appreciation GP Strategic Capital AUM & FPAUM (YoY) | (dollars in billions) | 1Q'25 | 1Q'24 | % Change | | :--- | :--- | :--- | :--- | | AUM | $67.0 | $55.8 | 20% | | FPAUM | $37.8 | $31.8 | 19% | - AUM Not Yet Paying Fees totaled **$1.6 billion**, reflecting expected annual management fees of **$14 million** once deployed[66](index=66&type=chunk) Flagship Fund Gross IRR Since Inception (as of 3/31/25) | Fund | Gross IRR | | :--- | :--- | | Blue Owl GP Stakes III | 29.0% | | Blue Owl GP Stakes IV | 57.2% | | Blue Owl GP Stakes V | 31.2% | [Real Assets Platform](index=31&type=section&id=Real%20Assets%20Platform) The Real Assets platform experienced explosive growth, with AUM increasing 146% year-over-year to $67.1 billion, driven by strategic acquisitions and capital raising Real Assets AUM & FPAUM (YoY) | (dollars in billions) | 1Q'25 | 1Q'24 | % Change | | :--- | :--- | :--- | :--- | | AUM | $67.1 | $27.2 | 146% | | FPAUM | $43.9 | $14.9 | 195% | - The significant increase in AUM and FPAUM was primarily driven by the IPI, Prima, and Kuvare Acquisitions[71](index=71&type=chunk) - The Net Lease strategy delivered gross returns of **1.2%** for Q1 2025 and **3.1%** over the last twelve months[71](index=71&type=chunk) [Supplemental Information & Appendix](index=33&type=section&id=Supplemental%20Information%20%26%20Appendix) [Supplemental Liquidity and AUM Details](index=35&type=section&id=Supplemental%20Liquidity%20and%20AUM%20Details) As of March 31, 2025, Blue Owl reported a strong liquidity position with $730 million in available liquidity and total debt of $3.24 billion, holding investment-grade ratings Liquidity and Debt Profile (as of 3/31/25) | Metric | Value | | :--- | :--- | | Available Liquidity | $730 million | | Total Debt | $3.24 billion | | Average Debt Maturity | ~10 years | | Cost of Debt (after-tax) | 3.8% | - The company holds investment-grade credit ratings: Fitch (BBB+), Moody's (Baa2), and S&P (BBB)[77](index=77&type=chunk) AUM Rollforward Summary (Twelve Months Ended 3/31/25) | (dollars in millions) | Total | | :--- | :--- | | Beginning Balance AUM | $174,320 | | Acquisitions | $57,183 | | New capital raised | $29,447 | | Change in debt | $16,098 | | Distributions | ($13,279) | | Change in value / other | $9,500 | | **Ending Balance AUM** | **$273,269** | [GAAP & Non-GAAP Reconciliations](index=41&type=section&id=GAAP%20%26%20Non-GAAP%20Reconciliations) This section provides detailed reconciliations of GAAP financial measures to non-GAAP measures like Fee-Related Earnings (FRE) and Distributable Earnings (DE) - Detailed tables reconcile GAAP Net Income to Fee-Related Earnings (FRE) and Distributable Earnings (DE)[100](index=100&type=chunk) - Key adjustments include removing equity-based compensation, amortization of intangible assets, transaction expenses, and changes in liability values from GAAP earnings to arrive at non-GAAP metrics[100](index=100&type=chunk) - A historical reconciliation of GAAP Management Fees to FRE Management Fees is provided, showing quarterly figures from 2Q'21 to 1Q'25[107](index=107&type=chunk)[108](index=108&type=chunk) [Defined Terms](index=59&type=section&id=Defined%20Terms) The appendix provides definitions for key financial and operational terms used in the report, including AUM, FPAUM, Permanent Capital, FRE, and DE - Defines Assets Under Management (AUM) as the sum of NAV, debt, uncalled capital, and other managed assets[109](index=109&type=chunk) - Defines Fee-Related Earnings (FRE) as a non-GAAP measure of core operating performance, excluding items like equity-based compensation, amortization, and net investment gains/losses[96](index=96&type=chunk) - Defines Distributable Earnings (DE) as FRE adjusted for performance revenues, interest income/expense, and taxes, representing earnings available for distribution[97](index=97&type=chunk)

Throughout my writings on Seeking Alpha, I have demonstrated my bullishness in alternative asset managers, especially private credit. I believe the industry is set to benefit from secular trends due to the rise in alternative investment allocationsHey there! My focus here is to provide you with insightful rating analysis on the world's leading financial firms to help you navigate and comprehend the latest investment opportunities while identifying potential pitfalls. My favorite picks are those that are til ...

Company Overview - Blue Owl Capital Inc. (OWL) shares increased by 14.3% to close at $18.20, following a significant trading volume compared to normal sessions [1] - The stock had previously experienced a 15.5% decline over the past four weeks [1] Market Influence - The rise in Blue Owl Capital's stock was influenced by a broader market surge, particularly due to President Donald Trump's announcement of a 90-day tariff pause for non-retaliating nations, which positively impacted investor sentiment [2] Earnings Expectations - Blue Owl Capital is projected to report quarterly earnings of $0.20 per share, reflecting a year-over-year increase of 17.7% [2] - Expected revenues for the upcoming report are $645.56 million, representing a 32.7% increase from the same quarter last year [2] Earnings Estimate Trends - The consensus EPS estimate for Blue Owl Capital has remained unchanged over the last 30 days, indicating a lack of upward revisions which typically correlate with stock price movements [4] - The stock currently holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook [4] Industry Comparison - Blue Owl Capital is part of the Zacks Financial - Investment Management industry, where another company, Franklin Resources (BEN), saw an 11.5% increase in its stock price, closing at $18.58 [4] - Franklin Resources has experienced a -15.1% return over the past month, with its EPS estimate for the upcoming report revised down by 5.3% to $0.48, a 14.3% decrease from the previous year [5]

Group 1 - The primary goal of the Cash Flow Kingdom Income Portfolio is to achieve an overall yield in the range of 7% to 10% by combining various income streams to create a steady portfolio payout [1] - Blue Owl Capital Corporation (OBDC) is identified as a solid Business Development Company that has experienced a decline in its share price due to a broader market downturn, resulting in an increased dividend yield [1] - The Cash Flow Club, which includes contributions from analysts focusing on company cash flows and capital access, offers features such as a personal income portfolio targeting over 6% yield and coverage of various sectors including energy midstream and commercial mREITs [1]

Core Viewpoint - Blue Owl Capital Inc. will release its financial results for Q1 2025 on May 1, 2025, before market open, and will host a conference call to discuss these results [1]. Group 1: Financial Results Announcement - Blue Owl Capital Inc. is set to announce its financial results for the first quarter ended March 31, 2025, on May 1, 2025 [1]. - A webcast and conference call will be held at 10 a.m. Eastern Time to discuss the results [1]. Group 2: Conference Call Information - The conference call will be accessible via the Shareholders section of Blue Owl's website and through specific dial-in numbers for domestic and international participants [2]. - Callers are encouraged to join 10-15 minutes early and will need to enter a Conference ID to connect [2]. Group 3: Company Overview - Blue Owl Capital Inc. is a leading asset manager with over $250 billion in assets under management as of December 31, 2024 [5]. - The company operates across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Assets, providing private capital solutions for long-term growth [5]. - Blue Owl aims to deliver strong performance, risk-adjusted returns, and capital preservation for its investors [5].