Blue Owl to launch debut interval fund
Alternative asset manager Blue Owl Capital has filed registration documents with the Securities and Exchange Commission (SEC) to launch its first interval fund.
According to the filing, the fund intends to cover a wide range of alternative credit assets and strategies, including asset-based finance investments. It also has a remit to invest in other credit investments, with a focus on private investments.
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The fund will be managed by Nicole Drapkin and Justin Burns. Drapkin is a senior managing director at Blue Owl and a member of the direct lending investment team, while Burns is a managing director at Blue Owl and a member of the alternative credit investment team.
Before joining Blue Owl, Burns was a managing director at Atalaya Capital Management, the predecessor firm to Blue Owl’s alternative credit team, where he was a senior member of the financial asset investment team.
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Last year, Blue Owl bought Atalaya Capital Management, in a $450m (£347.6m) deal intended to significantly expand its alternative credit and asset-based finance capabilities.
The fund will have a 0.75 per cent management fee, and offers access to a range of different types of investors.
The minimum initial investment in the fund by any investor will be $25,000 with respect to class S shares and class U shares, and $1m with respect to class I shares. The minimum additional investment in the fund by any investor will be $5,000.
Blue Owl declined to comment on the fund launch.
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