Blue Owl Capital has introduced the ultimate shut of its various credit score fund aimed on the wealth market, after securing $850m (£632.5m) in capital commitments.
The choice asset supervisor mentioned investments had come from a “numerous” shopper base throughout its world non-public wealth channel.
Learn extra: Blue Owl: Stability of personal credit score markets ‘amplified’ by market volatility
Blue Owl known as the ultimate shut a “milestone” for its non-public wealth platform, demonstrating its capability to ship “differentiated entry to a big and underpenetrated” various credit score market that meets the rising demand for institutional-grade non-public credit score options amongst particular person buyers.
The fund invests in various credit score methods with a concentrate on asset-based finance, reminiscent of financing based mostly on monetary or arduous asset collateral, with the intention to generate present revenue and capital appreciation, to a lesser extent.
“Asset-based financing presents a differentiated method to company credit score by anchoring investments to tangible collateral or stream of money circulate,” Ivan Zinn, head of other credit score at Blue Owl, mentioned.
“Taken collectively, these traits might contribute to a return profile that generates constant revenue and is much less correlated to each conventional company direct lending and broader public markets.”
Learn extra: Lending Membership and Blue Owl renew ahead circulate settlement for as much as $3.4bn
Zinn added that for personal wealth buyers, this has the potential to enrich portfolios by providing stability, revenue, and diversification in a single technique.
“Over the previous few years, now we have seen large progress in our non-public wealth enterprise, pushed by deepening relationships with advisors and increasing entry to our credit score methods throughout the Americas, EMEA and APAC,” mentioned Madeleine Sinclair, head of personal wealth, Americas at Blue Owl.
Blue Owl Capital has greater than $273bn in property below administration invested throughout three multi-strategy platforms – credit score, actual property and GP strategic capital.
Learn extra: Blue Owl to launch debut interval fund