Private investment firm Blue Owl Capital clarified Thursday that it's not cutting off investor access to cash from one of its debt funds. The statement came after the company's stock price fell following news of changes to how investors can withdraw money from the fund.
NEW YORK – Investment management company Blue Owl Capital issued a clarification Thursday, stating it has not suspended investor access to funds from one of its private debt investment vehicles, following a decline in the firm’s stock price after announcing changes to withdrawal procedures.
The company emphasized in its Thursday statement that it is “not halting investor liquidity in” its non-traded debt fund Blue Owl Capital Corp II. This clarification came one day after Blue Owl announced it would distribute 30% of the fund’s net asset value back to investors while discontinuing its quarterly withdrawal options.
Rather than continuing its previous tender offer system that allowed investors to withdraw up to 5% of their investment capital, Blue Owl explained its revised approach would deliver greater returns. “We are returning six times as much capital and returning it to all shareholders over the next 45 days. In the coming quarters we will continue to pursue this plan to return capital to OBDC II investors,” the company stated.
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