Logo of Owl Rock Capital Corporation BDC
Owl Rock Capital Corp. BDC logo
  • Management type: Externally managed BDC
  • Base management fee: 0.75% of average gross assets
  • Incentive fee (currently waived): 20% of income in excess of a 6% return from pre-incentive fee net investment income
  • Total assets: $1.89 billion
  • BDC type: Non-traded BDC

Owl Rock was co-founded by Douglas Ostrover (Co-CIO), Marc Lipschultz (Co-CIO), and Craig Packer (CEO). Between them, they have substantial experience in private lending for world-reknown managers including GSO Capital Partners, KKR, and Goldman Sachs.

Owl Rock Capital is a private BDC with institutional backing. George Soros, Michael Dell, and Joseph Tsai are all said to be investors. Maine Public Employees Retirement System, University of California Regents and other major pension funds have also backed the BDC. The company said it had uncalled commitments of $2.1 billion at the end of June 30, 2017, in addition to its $1.08 billion of equity capital at the end of June 2017.

From its filings:

Owl Rock Capital Corporation was formed primarily to originate and make loans to, and make debt and equity investments in, U.S. middle market companies. The Company may invest in senior secured or unsecured loans, subordinated loans or mezzanine loans and, to a lesser extent, equity-related securities including warrants, preferred stock and similar forms of senior equity, which may or may not be convertible into a portfolio company’s common equity. The Company’s investment objective is to generate current income and to a lesser extent, capital appreciation by targeting investment opportunities with favorable risk-adjusted returns.

In April 2016, the Company made its first portfolio company investment. On April 27, 2016, the Company formed a wholly-owned subsidiary, OR Lending LLC, a Delaware limited liability company, which holds a California finance lenders license and a Tennessee industrial loan and thrift certificate.

Link to its most recent SEC filing (period ended June 30, 2017): 10-Q