Redemption requests remained above the 5% quarterly cap but eased from the prior quarter, as Blue Owl said both funds had enough liquidity and did not need to sell private loans to meet tender offers.
Investors asked Blue Owl Capital to return $4.7 billion from two of its flagship private-credit funds in the second quarter, down from $5.4 billion in the prior quarter but still well above the 5% quarterly withdrawal limit applied to both vehicles. Blue Owl Credit Income Corp, the firm’s $33.8 billion flagship non-traded business development company, received redemption requests equal to 18.8% of shares outstanding, down from 21.9% in the previous quarter. Technology-focused Blue Owl Technology Income Corp, which manages $4.9 billion, saw requests fall to 38.1% from 40.7%, leaving its tender levels above broader industry ranges. The asset manager’s shares rose 6% after the update signaled easing pressure, even as wealthy investors continued to pull money from non-traded private-credit vehicles over concerns about lending standards and AI-related risks for software borrowers.