Fundraising

Managing partner Rich Gammill says more than half of commitments came from repeat investors and the strategy no longer uses a placement agent.

The $1.3trn manager said that it has recorded record fundraising YTD as of 30 September.

The first vintage fund fell short of its target, but the latest fund doubled its $1.5bn target and hit its hard-cap.

But revenue plunged 52% and earnings swung to a loss as higher interest rates weighed on its retirement services business.

Higher fees from diversification to Europe and alternative credit help boost platform and drive rise in fee-paying assets in Q3.

The firm’s bet on financing AI and its focus on investment-grade and ABF helped pick up the slack, however.

The suggested move has much prelude, both amongst other private credit concerns and in Blue Owl’s own recent history.

Oaktree’s inaugural, closed-end asset-based finance fund will focus on capital solutions to a broad spectrum of originators, including equipment leasing, consumer and infrastructure.