# Blue Owl Capital Corp

Summary updated: 2026-10-02T16:32:30.578465Z
Canonical: https://finbar.com/research/companies/blue-owl-capital-corp

## Overview

Blue Owl Capital Corporation (OBDC) is a publicly traded, externally managed business development company focused on direct lending to U.S. middle-market businesses. Its investment objective is to generate current income and, to a lesser extent, capital appreciation. [1](https://www.blueowlcapitalcorporation.com/investors/company-info) The portfolio consists primarily of private-credit investments, especially senior-secured, first-lien loans, alongside other debt and equity investments. [2](https://app.finbar.com/go?id=P147174120)

As of June 30, 2026, OBDC held investments in 229 portfolio companies with a total fair value of $15.0 billion; investment income for the second quarter of 2026 was $401 million. [3](https://www.blueowlcapitalcorporation.com/investors/news-events/press-releases/detail/94/blue-owl-capital-corporation-announces-june-30-2026) The company is externally managed, so Blue Owl platform-wide employee and global-presence figures should not be treated as OBDC-specific. OBDC’s predecessor was formed in 2015, and the company adopted its current name in 2023. [4](https://www.blueowlcapitalcorporation.com/investors/news-events/press-releases/detail/59/owl-rock-capital-corporation-renamed-to-blue-owl-capital)
[2](https://app.finbar.com/go?id=P147174120)[1](https://www.blueowlcapitalcorporation.com/investors/company-info)[3](https://www.blueowlcapitalcorporation.com/investors/news-events/press-releases/detail/94/blue-owl-capital-corporation-announces-june-30-2026)[4](https://www.blueowlcapitalcorporation.com/investors/news-events/press-releases/detail/59/owl-rock-capital-corporation-renamed-to-blue-owl-capital)

## Products & services

Blue Owl Capital Corp is a business development company whose investment products are debt and, to a lesser extent, equity investments in U.S. middle-market businesses. Its stated objective is to generate current income and, secondarily, capital appreciation. It focuses particularly on institutionally backed upper-middle-market companies with more than $50 million in annual EBITDA. [5](https://app.finbar.com/go?id=P147174117)[6](https://app.finbar.com/go?id=P147174139)

Its debt investments include first-lien senior-secured and unsecured loans, subordinated and mezzanine loans, and broadly syndicated loans. Loan structures disclosed include term loans, revolving and delayed-draw facilities, and multi-currency revolving facilities; investments may include cash-pay and payment-in-kind interest. The company also makes occasional equity-related investments, including warrants and preferred stock. These details are reported in its filing for the quarter ended June 30, 2026. [7](https://app.finbar.com/go?id=P147172867)[8](https://app.finbar.com/go?id=P147172938)[9](https://app.finbar.com/go?id=P147172954)[6](https://app.finbar.com/go?id=P147174139)
[5](https://app.finbar.com/go?id=P147174117)[6](https://app.finbar.com/go?id=P147174139)[7](https://app.finbar.com/go?id=P147172867)[8](https://app.finbar.com/go?id=P147172938)[9](https://app.finbar.com/go?id=P147172954)

## Geographic presence

Blue Owl Capital Corp’s investment focus is U.S. middle-market companies; no country-by-country portfolio allocation or geographic revenue percentages are specified in the available information. [10](https://ir.blueowl.com/Investors/news/news-details/2023/Owl-Rock-Capital-Corporation-Renamed-to-Blue-Owl-Capital-Corporation/default.aspx)

A disclosed investment group included Greater Toronto Custom Windows Corp., valued at $10.0 million as of December 31, 2025; this was one of seven underlying investments in the group and is not a measure of the company’s overall Canadian exposure. [11](https://app.finbar.com/go?id=P147173313) The company’s principal executive office is at 399 Park Avenue, New York, New York 10022. [12](https://app.finbar.com/go?id=P147172620)
[11](https://app.finbar.com/go?id=P147173313)[12](https://app.finbar.com/go?id=P147172620)[10](https://ir.blueowl.com/Investors/news/news-details/2023/Owl-Rock-Capital-Corporation-Renamed-to-Blue-Owl-Capital-Corporation/default.aspx)

## Business segments

Blue Owl Capital Corp reports one operating and reportable segment, focused on generating current income and, to a lesser extent, capital appreciation through debt and equity investments. The company’s chief operating decision maker assesses performance and allocates resources on a consolidated basis. This single segment represents 100% of reportable operations; the company does not disclose separate segment-level revenue or investment-income contributions. Portfolio categories by industry or investment type are not additional operating segments. [13](https://app.finbar.com/go?id=P147173420)[14](https://app.finbar.com/go?id=P147173421)
[13](https://app.finbar.com/go?id=P147173420)[14](https://app.finbar.com/go?id=P147173421)[15](https://www.sec.gov/Archives/edgar/data/1655888/000165588826000056/obdc-20260630.htm)[16](https://www.blueowlcapitalcorporation.com/investors/financial-results/financial-results)

## Company history

Blue Owl Capital Corporation was formed in Maryland as Owl Rock Capital Corporation on October 15, 2015. [17](https://www.sec.gov/Archives/edgar/data/1655888/000156459017003602/owl-10k_20161231.htm) Its shares began trading on the New York Stock Exchange in July 2019 following an initial public offering. [18](https://app.finbar.com/go?id=P176947436)[19](https://www.blueowlcapitalcorporation.com/_assets/_0079901b27744e201d6d9adb113c8a19/blueowlcapitalcorporation/db/2218/22423/presentation/ORCC-Investor-Presentation-May-2021_vF.pdf)

In May 2021, Owl Rock and Dyal completed a business combination with Altimar to form Blue Owl Capital Inc., the broader investment manager. [20](https://ir.blueowl.com/Investors/news/news-details/2021/Owl-Rock-and-Dyal-Complete-Business-Combination-Newly-Formed-Blue-Owl-Commences-Trading-on-NYSE/default.aspx) In July 2023, Owl Rock Capital Corporation changed its name to Blue Owl Capital Corporation and its ticker from ORCC to OBDC. [4](https://www.blueowlcapitalcorporation.com/investors/news-events/press-releases/detail/59/owl-rock-capital-corporation-renamed-to-blue-owl-capital)

In August 2024, the company agreed to acquire Blue Owl Capital Corporation III; the merger was completed in January 2025, with Blue Owl Capital Corporation as the surviving company. [21](https://app.finbar.com/go?id=P18023403)[22](https://app.finbar.com/go?id=P37802650)[23](https://www.blueowlcapitalcorporation.com/investors/news-events/press-releases/detail/76/blue-owl-capital-corporation-completes-merger-with-blue-owl)

## Sources

1. [www.blueowlcapitalcorporation.com](https://www.blueowlcapitalcorporation.com/investors/company-info)
2. [Blue Owl Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P147174120)
3. [www.blueowlcapitalcorporation.com](https://www.blueowlcapitalcorporation.com/investors/news-events/press-releases/detail/94/blue-owl-capital-corporation-announces-june-30-2026)
4. [www.blueowlcapitalcorporation.com](https://www.blueowlcapitalcorporation.com/investors/news-events/press-releases/detail/59/owl-rock-capital-corporation-renamed-to-blue-owl-capital)
5. [Blue Owl Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P147174117)
6. [Blue Owl Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P147174139)
7. [Blue Owl Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P147172867)
8. [Blue Owl Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P147172938)
9. [Blue Owl Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P147172954)
10. [ir.blueowl.com](https://ir.blueowl.com/Investors/news/news-details/2023/Owl-Rock-Capital-Corporation-Renamed-to-Blue-Owl-Capital-Corporation/default.aspx)
11. [Blue Owl Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P147173313)
12. [Blue Owl Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P147172620)
13. [Blue Owl Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P147173420)
14. [Blue Owl Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P147173421)
15. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1655888/000165588826000056/obdc-20260630.htm)
16. [www.blueowlcapitalcorporation.com](https://www.blueowlcapitalcorporation.com/investors/financial-results/financial-results)
17. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1655888/000156459017003602/owl-10k_20161231.htm)
18. [Blue Owl Capital Corp — Full financial report (2020 Y)](https://app.finbar.com/go?id=P176947436)
19. [www.blueowlcapitalcorporation.com](https://www.blueowlcapitalcorporation.com/_assets/_0079901b27744e201d6d9adb113c8a19/blueowlcapitalcorporation/db/2218/22423/presentation/ORCC-Investor-Presentation-May-2021_vF.pdf)
20. [ir.blueowl.com](https://ir.blueowl.com/Investors/news/news-details/2021/Owl-Rock-and-Dyal-Complete-Business-Combination-Newly-Formed-Blue-Owl-Commences-Trading-on-NYSE/default.aspx)
21. [Blue Owl Capital Corp — Full financial report (2024 Q 3)](https://app.finbar.com/go?id=P18023403)
22. [Blue Owl Capital Corp — Full financial report (2025 Q 1)](https://app.finbar.com/go?id=P37802650)
23. [www.blueowlcapitalcorporation.com](https://www.blueowlcapitalcorporation.com/investors/news-events/press-releases/detail/76/blue-owl-capital-corporation-completes-merger-with-blue-owl)

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