Loading ...- Redemptions at Blue Owl Capital Corp II to be permanently halted
- Proceeds to return capital to shareholders, pay down debt
- Blue Owl shares fall 7%; Apollo, KKR, Carlyle fall
Blue Owl halts redemptions at one of its funds, deepening selloff in private equity shares
NEW YORK, Feb 19 (Reuters) – Private capital firm Blue Owl Capital (OWL.N), opens new tab is selling $1.4 billion in assets from three of its credit funds so it can return capital to investors and pay down debt, and permanently halting redemptions at one of the funds, the company said, as direct lending and software stocks come under pressure.
The sale comes just over three months after Blue Owl abandoned a plan to merge two of the three funds into one and to temporarily halt redemptions in the smallest of the funds, which were scheduled to resume this quarter.
Credit spreads should be through the roof. This is the bubble pin prick identifier. Expect many more such announcements forthcoming.
Definitely not trading freely.
Mornin all