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Stock impact report

More investors flee Blue Owl funds as private credit fears deepen [CNN]

Ares Management Corporation Class A (ARES) 
Last ares management corporation class a earnings: 2/13 06:00 am Check Earnings Report
US:NYSE Investor Relations: ares-ir.com
Company Research Source: CNN
New York — Blue Owl has shed 40% of its market value this year, and its stock ( OWL ) sank again on Thursday after it revealed a massive surge in requests from investors wanting to yank their money, forcing the firm to cap withdrawals. Blue Owl said in a letter that it received requests to pay out 41% of its $6 billion tech-focused fund (up from 15.4% the previous quarter) and 22% of its $36 billion flagship fund (up from just 5%). The lender is honoring just a fraction of those requests, paying out 5% from each fund. Blue Owl shares fell 9% early Thursday before recovering and ending the day down 1.5%. Shares of other big players in private credit, such as Apollo Global and Ares Management, also fell. Blue Owl executives said in investor letters seen by CNN on Thursday that they believed “market perception” had driven the surge of redemption requests but stressed that “underlying credit fundamentals across our portfolio have remained resilient.” They also blamed “heightened Show less Read more
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