(Bloomberg) — Blue Owl Capital Inc. lately dedicated funding to its tenth $1 billion-sized financing of 2021, the newest signal of fast development in non-public lending, co-president Mark Lipschultz stated Tuesday.
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“The shift that’s occurring when it comes to the quantity of market accessible to the non-public credit score facet is much exceeding the availability of capital,” Lipschultz stated in an interview on Bloomberg TV on the Greenwich Financial Discussion board, the place he was scheduled to talk Tuesday afternoon.
When he began Owl Rock Capital Corp., the predecessor to Blue Owl, the non-public lending markets hadn’t but seen a $1 billion financing, he stated.
Learn extra: Why Unitranche Loans Grew From Area of interest to Billions: QuickTake
In the meantime rising rates of interest aren’t a fear for Blue Owl, which will get its income from mounted charges, Lipschultz stated. “We’re within the floating-rate mortgage enterprise, so really rising charges are a direct beneficiary to the those who spend money on our funds,” he stated.
Owl Rock Capital accomplished a merger with Dyal Capital Companions in August, creating an asset supervisor with greater than $50 billion beneath administration.
Learn extra: Dyal, Owl Rock to Merge Into Behemoth Asset Supervisor through SPAC (1)
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