Thu, Aug 1, 9:10 PM (226 days ago)
Blue Owl Capital Inc.'s Form 10-Q for the quarter ended June 30, 2024, highlights significant growth and strategic acquisitions, alongside a robust financial performance. Key financial metrics include a net income attributable to Blue Owl Capital Inc. of $33.9 million for Q2 2024, up from $12.9 million in Q2 2023. Fee-Related Earnings (FRE) increased to $296.5 million from $244.6 million, and Distributable Earnings rose to $273.0 million from $227.0 million year-over-year. The company’s assets under management (AUM) reached $192.2 billion, with fee-paying AUM (FPAUM) at $121.5 billion. Recent acquisitions, including Prima Capital Advisors for $173 million and KAM for $750 million, are expected to bolster future revenue streams. The business environment remains resilient despite market uncertainties, supported by a management-fee-centric model and substantial permanent capital. Future uncertainties include macroeconomic factors that could affect fundraising and capital deployment, potentially impacting management fees. Blue Owl maintains a strong liquidity position with $436.8 million in cash and cash equivalents and $1.5 billion available under its revolving credit facility.