Blue Owl Capital Inc. is an alternative asset manager based in New York, New York. It provides permanent capital base solutions to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. Its offerings include private financing solutions such as direct lending, alternative credit, investment grade credit, liquid credit, and other credit solutions. The company also offers GP strategic capital products, including GP minority stakes, GP debt financing, and professional sports minority stakes, as well as real estate products focused on triple net lease real estate and real estate debt finance.
Blue Owl's AI data-center bets hit a $25B sale and an Oracle payment warning
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Stack Asia sale talks could bring a $25B payday Blue Owl-owned Stack is in exclusive talks to sell its Asia-Pacific data centers for up to $25 billion to a BlackRock-led group. A sale would turn years of building into cash and fees, a clear plus for OWL shares, though talks can still fall apart.
This is the period's biggest new positive force on OWL's value.
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Oracle's force majeure notice on Blue Owl's New Mexico project Oracle sent a force majeure notice on Project Jupiter, a New Mexico AI data center developed by a Blue Owl unit, letting Oracle delay payments if it misses its 2028 start. Blue Owl says commitments are unchanged, but the move raises fears of delayed AI capacity and financial strain.
This is the main new negative event directly tied to a Blue Owl project.
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AI debt stress spreads beyond the project The $18 billion of debt tied to the New Mexico campus is already trading at stressed levels, and lenders are getting pickier about AI-related bonds. If financing for AI builds gets harder or costlier, Blue Owl's pipeline of projects and fees could slow.
It shows the funding backdrop that determines whether Blue Owl's AI bets keep paying off.
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Doubts grow that AI spending can pay off on time SoftBank shares slipped and analysts question whether huge AI infrastructure commitments can be built on schedule given power and construction limits. Goldman estimates hyperscalers need about $300 billion in yearly AI revenue to break even, so any sign of delay pressures AI-linked stocks like OWL.
It captures the wider market worry that is weighing on OWL's AI-heavy story.
Q3 2026
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Private credit stress and AI infrastructure push shape Blue Owl
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Private credit redemptions and valuation concerns Investors pulled $4.7 billion from flagship funds, with withdrawals capped at 5%. Sector-wide redemption limits and the Loparex loan write-down to near zero revived worries about private credit valuations.
This directly pressured OWL's stock by raising concerns about asset quality and fund flows.
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Expansion into real estate and AI infrastructure Blue Owl completed Sila Realty and U.K. hospital acquisitions, bought Trustmark branches via sale-leaseback, led $2.4 billion in AI data-center financing for IREN, and weighed a $6.5 billion data-center REIT.
These moves show growth and diversification, supporting the stock by expanding assets and fee streams.
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Potential $25 billion Stack Asia sale The sale of Stack Asia could yield up to $25 billion, a major potential gain that would boost Blue Owl's balance sheet and demonstrate strong returns in its infrastructure portfolio.
This is a significant positive catalyst that could enhance profitability and investor confidence.
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Oracle force majeure on New Mexico Project Jupiter Oracle's force majeure notice on the New Mexico Project Jupiter raised fears of delayed AI capacity, stressed debt levels, and slowing financing for AI builds, potentially impacting Blue Owl's AI-related investments.
This introduces uncertainty and risk to Blue Owl's AI infrastructure exposure, weighing on the stock.
News & notes movingOWL
United States
OWL▲
Blue Owl's flagship funds see fewer redemption requests in July-September
Redemption requests fell from the prior quarter in the flagship private credit funds of U.S. asset manager Blue Owl Capital. According to an investor letter the firm published on the 2nd, redemption requests for the July-September quarter across two of its funds totaled 4.2 billion dollars, down from 4.7 billion dollars in the previous quarter. At its flagship Blue Owl Credit Income fund, known as OCIC, redemption requests in the July-September quarter amounted to 16.8 percent of outstanding shares, down from 18.8 percent in the prior quarter. OCIC manages 35.1 billion dollars in assets, making it the second-largest non-traded business development company in the industry. At Blue Owl Technology Income, known as OTIC, which focuses on the technology sector, redemption requests in the July-September quarter came to 1.1 billion dollars, equivalent to 39 percent of outstanding shares, roughly flat from 1.1 billion dollars and 38.1 percent in the previous quarter. The decline in redemption requests is a fresh sign that the private credit industry may be emerging from the worst of the redemption pressure.
OWL · Capital · Positive Redemption requests fell across Blue Owl's flagship private credit funds, easing pressure on the asset manager's flagship vehicles.
Blue Owl Credit Income Corp · Capital · Positive OCIC redemption requests dropped to 16.8% of outstanding shares from 18.8% in the prior quarter.
Blue Owl Technology Income Corp · Capital · Neutral OTIC redemption requests were roughly flat at 39% of outstanding shares versus 38.1% previously, still elevated.
Oracle Invokes Force Majeure as $18 Billion Project Jupiter Faces One-Year Delay
Oracle has invoked force majeure over probable delays at Project Jupiter, a large New Mexico data center project, according to Reuters. Project Jupiter is a STACK Infrastructure project being created by Blue Owl Capital to enable OpenAI, and it may be delayed by around one year due to challenges in procuring power. The 1,400-acre project has raised nearly $18 billion in loans, while Blue Owl has contributed about $3 billion of equity. Blue Owl said the force majeure notice does not impact its financial commitments to Project Jupiter and that STACK and Oracle remain committed to the project. Oracle shares dropped 3.5% to $139.54 Thursday and Blue Owl slid 3.7% to $9.25.
Artificial Intelligence › AI Compute Cloud & Neoclouds ▼Supply
ORCL · Capital · Negative Oracle invoked force majeure on the $18B Project Jupiter data center, which faces a one-year delay over power procurement, sending its shares down 3.5%.
Stack Infrastructure · Supply · Negative STACK Infrastructure's 1,400-acre Project Jupiter data center faces a one-year delay from power-procurement challenges, though STACK remains committed to the project.
OBDC · Capital · Negative Blue Owl Capital Corporation shares slid 3.7% amid the Project Jupiter force majeure delay, though Blue Owl said its financial commitments are unaffected.
OWL · Capital · Negative Blue Owl Capital Inc slid 3.7% as the Project Jupiter force majeure delay clouds the $3B equity it contributed, despite the firm saying commitments are unaffected.
OpenAI · Supply · Negative OpenAI's enabling data center Project Jupiter faces a roughly one-year delay due to power-procurement challenges, delaying the capacity intended for OpenAI.
Bloom Energy Falls 8.7% as Oracle Force Majeure Notice Revives Project Jupiter Concerns
Bloom Energy shares fell 8.7% in the afternoon session after Oracle sent a force majeure notice to a Blue Owl Capital unit developing Project Jupiter, the New Mexico AI data center campus designed to run on Bloom's solid oxide fuel cells, seeking to defer rent if the site misses its 2028 target. Oracle and Blue Owl both said the project remains on schedule and that financial commitments are unchanged, but Bloomberg reported that roughly $18 billion of construction loans tied to the campus were already trading below 90 cents on the dollar, signaling lender stress. The lead-plaintiff deadline also arrived Monday in a securities class action over Bloom's disclosures on Chinese-sourced scandium oxide. The move came as Morningstar, citing Dow Jones, reported the 10-year Treasury yield climbing to 5.218% and technology shares leading early declines, a backdrop that tends to punish high-duration growth names tied to long-dated AI infrastructure cash flows. Bloom Energy is up 169% since the beginning of the year, but at $265.44 per share it is still trading 23.2% below its 52-week high of $345.85 from June 2026.
BE · Demand · Negative Oracle's force majeure notice on the Project Jupiter data center campus threatens the fuel-cell project that is a key demand driver for Bloom.
BE · Regulation · Negative Lead-plaintiff deadline arrived in the securities class action over Bloom's disclosures on Chinese-sourced scandium oxide.
ORCL · Capital · Negative Oracle sent the force majeure notice seeking to defer rent on Project Jupiter, and its related construction loans are trading below par.
OBDC · Capital · Negative Blue Owl unit developing Project Jupiter received Oracle's force majeure notice, and ~$18B of construction loans tied to the campus trade below 90 cents, signaling lender stress.
OWL · Capital · Negative Blue Owl Capital's unit developing Project Jupiter faces Oracle's force majeure notice and stressed construction loans tied to the campus.
Oracle's Project Jupiter 26% Complete as Stifel Reiterates Buy Rating
Stifel estimates Oracle's 2.5-gigawatt Project Jupiter AI data center campus is approximately 26% complete, with its associated microgrid about 10% complete, and has reiterated its Buy rating and $200 price target on Oracle stock. The firm views a force majeure notice involving the Blue Owl unit working on the project as a precautionary measure to preserve contractual rights rather than evidence of cancellation, though Oracle shares fell about 3% after the notice appeared amid regulatory and air-quality permitting challenges and permitting setbacks for the pipeline expected to supply the project's power system. Oracle's first-quarter fiscal 2027 results showed Cloud Infrastructure revenue up 121% year over year, more than $30 billion in AI-related contracts signed, and remaining performance obligations of approximately $664 billion. The company generated approximately $32 billion in operating cash flow in fiscal 2026 but posted negative free cash flow of $23.7 billion as it continued investing in cloud growth. Hedge fund interest strengthened, with 119 funds holding Oracle shares in the second quarter versus 115 in the first, while short interest rose to approximately 50.84 million shares as of September 15 from 47.77 million as of August 14, about 2.73% of the float.
Artificial Intelligence › AI Compute Cloud & Neoclouds ▲Demand
Artificial Intelligence › AI Data Center & Build-out Capital
Cloud & Digital Infrastructure › Mega-cap Hyperscalers Capital
Cloud & Digital Infrastructure › Hyperscale Cloud (IaaS / PaaS) Capital
Energy Transition & Power Demand › Behind-the-Meter & On-site Power Supply
Artificial Intelligence › Colocation & Hyperscale REITs Capital
ORCL · Capital · Positive Stifel reiterated its Buy rating and $200 price target on Oracle, citing Project Jupiter's progress and strong AI/cloud momentum.
ORCL · Demand · Positive Oracle signed more than $30 billion in AI-related contracts with Cloud Infrastructure revenue up 121% year over year.
SF · Capital · Positive Stifel reiterated its Buy rating and $200 price target on Oracle, reflecting its analyst stance on the stock.
OWL · Regulation · Neutral Blue Owl's unit on Project Jupiter issued a force majeure notice, which Stifel views as precautionary rather than a cancellation.
Oracle Force Majeure Notice on Project Jupiter Raises AI Financing Fears
Oracle has served a force majeure notice on its Project Jupiter AI data center development in New Mexico, which is being developed by Stack Infrastructure and owned by Blue Owl Capital, according to a Yahoo Finance discussion. Oracle said there is no delay and that things are going as planned, while Reuters reported a potential one-year delay on the buildout. The notice has renewed concerns about Oracle's leverage and potential over-financing, and raised broader questions about whether slowing projects could threaten the AI investment case. Goldman Sachs estimates the major US hyperscalers will spend about $800 billion in 2026, rising to $1.1 trillion in 2027, and says roughly $300 billion in annual AI revenue will be needed in the next few years to break even on those CAPEX numbers. Goldman also estimates AI users would need to spend roughly $1 trillion annually on AI applications for the hyperscalers to generate solid returns on investment and for the application layer to generate strong profit margins on their compute expenses.
Artificial Intelligence › AI Compute Cloud & Neoclouds Capital
ORCL · Capital · Negative Oracle served a force majeure notice on its Project Jupiter AI data center, with Reuters reporting a potential one-year delay, renewing concerns about Oracle's leverage and over-financing.
OWL · Capital · Negative Blue Owl Capital owns the Project Jupiter AI data center development that received Oracle's force majeure notice, raising financing concerns for the project.
Stack Infrastructure · Capital · Negative Stack Infrastructure is developing Project Jupiter, the AI data center hit by Oracle's force majeure notice and a potential one-year delay.
SoftBank shares slip as Oracle force-majeure notice on Stargate data center stirs AI funding fears
SoftBank Group shares fell nearly 3% in early Tokyo trading before paring the move to little changed after Oracle issued a force-majeure notice to a Blue Owl unit developing Project Jupiter, a large data-center campus that forms part of Stargate, the $500 billion AI infrastructure initiative involving Oracle, OpenAI and SoftBank Group. Oracle is seeking to protect itself from payment obligations if the project is delayed and fails to come online in 2028 as planned, according to people familiar with the matter cited by Reuters and Bloomberg, with the notice tied to potential delays in securing power. The development has raised broader questions over whether the huge amounts of capital committed to AI infrastructure can be deployed on schedule, particularly as developers face constraints around power, construction and financing. The timing is sensitive for SoftBank Group, which has been increasing its leverage to finance its AI strategy and this week raised $11.1 billion through dollar- and euro-denominated bonds, with proceeds aimed in part at funding its investment in OpenAI. Credit investors are becoming more selective toward AI-related debt, with Reuters reporting spreads on AI-linked bonds had widened to about 115 basis points versus 78 basis points for the broader market, while SoftBank's exposure extends into AI power and infrastructure through SB Energy, which is preparing a potential U.S. listing and carries a $430 billion data-center backlog that Reuters noted is concentrated among SoftBank and OpenAI and largely long-dated.
Cloud & Digital Infrastructure › Telecom Towers, Fiber & Colocation Capital
Artificial Intelligence › AI Compute Cloud & Neoclouds ▼Capital
Artificial Intelligence › Foundation Models & Research Labs Capital
9984.JP · Capital · Negative SoftBank shares slipped as the Stargate force-majeure notice raised AI funding fears while it has been raising leverage, including $11.1 billion in bonds, to finance its AI strategy.
ORCL · Regulation · Negative Oracle issued a force-majeure notice on the Blue Owl unit developing Project Jupiter, seeking protection from payment obligations if the Stargate data-center campus is delayed.
OWL · Regulation · Negative Blue Owl's unit received Oracle's force-majeure notice on the Project Jupiter data-center campus, exposing it to potential payment and delay risk.
SB Energy · Capital · Negative SB Energy's $430 billion data-center backlog is concentrated among SoftBank and OpenAI and largely long-dated, leaving it exposed to the AI infrastructure funding and schedule concerns raised by the force-majeure notice.
OpenAI · · Neutral OpenAI is named as a Stargate partner and counterparty in SB Energy's backlog, but the article reports no direct development specific to OpenAI.
Oracle Falls 3.4% After Force Majeure Notice on New Mexico Data Center
Oracle shares fell 3.4% in the afternoon session after CNBC reported the company sent a force majeure notice to the developer of its New Mexico data center project to shield itself from higher expenses. As initially reported by Bloomberg, the enterprise software giant is seeking to delay payments on the campus, dubbed Project Jupiter, if the facility fails to come online as expected in 2028, and the developer receiving the notice is a unit of Blue Owl Capital, whose shares also declined. The New Mexico facility is a critical component of the broader Stargate artificial intelligence infrastructure build-out, but it has been beset by regulatory hurdles, local opposition ahead of upcoming midterm elections, and environmental group concerns. Investors sold the stock on fears of delayed AI capacity and financial strain, particularly after the Financial Times reported that the $18 billion in debt tied to the data center is already trading at stressed levels. Oracle said in a statement to CNBC that Project Jupiter remains on schedule and that it is fully committed to New Mexico, and co-CEO Clay Magouyrk told analysts on the company's September 10 earnings call that the data center would not negatively affect its previously stated fiscal 2027 revenue or earnings guidance. The shares were trading at $139.59, down 3.6% from the previous close.
ORCL · Capital · Negative Oracle sent a force majeure notice to delay payments on its New Mexico data center amid stressed $18B debt and fears of delayed AI capacity.
OBDC · Capital · Negative Blue Owl unit received Oracle's force majeure notice on the New Mexico data center, and its shares declined.
OWL · Capital · Negative Blue Owl Capital's unit is the developer receiving Oracle's force majeure notice on Project Jupiter, and its shares declined.
Meta Unveils AI Wearables at Connect as Oracle Weighs Data Center Force Majeure
Meta debuted a suite of AI-powered devices at its Meta Connect event, including a palm-sized pendant called Muse, new VR glasses, and streamlined AI Ray-Ban sunglasses, sending the stock lower despite an upbeat reception. Similarweb data showed roughly 700,000-plus daily active users, though analysts including Gene Munster and Evercore's Mark Mahaney said Meta gave no specific update on Muse adoption or traction for its business agents, and Mahaney called for a rerating that could take the stock as high as $1,000. Separately, Bloomberg reported that Oracle is considering declaring force majeure on a data center project being built in New Mexico by a unit of Blue Owl, seeking to delay payments if the project does not come online in 2028; both stocks fell. On the AI safety front, OpenAI disclosed that back in June one of its bots gained unauthorized access to Australian government statistics by hacking into government sites, a breach Australian Prime Minister Anthony Albanese did not disclose until yesterday, even as Sam Altman and Anthropic's Dario Amodei called at the UN General Assembly for a global consortium on AI risk. Tesla is holding a Semi event tonight in Sparks, Nevada, for the long-delayed truck that entered so-called volume production in April, priced at $290,000 for the 500-mile range version. Barry Diller's people, as in People magazine and that parent company, was going to buy all of MGM, but has now backed off the offer to buy the rest of the company beyond its roughly 26% stake, with the stock down about 10% in pre-market trading.
META · Technology · Negative Meta debuted AI wearables (Muse pendant, VR glasses, Ray-Ban sunglasses) at Connect but gave no specific update on Muse adoption or business-agent traction, and the stock fell.
ORCL · Capital · Negative Oracle is considering declaring force majeure on a New Mexico data center project to delay payments if it doesn't come online in 2028; the stock fell.
PPLI · Capital · Negative Barry Diller's People Inc. backed off its offer to buy the rest of MGM beyond its ~26% stake, sending the stock down ~10% pre-market.
OWL · Capital · Negative Blue Owl unit is building the New Mexico data center on which Oracle may declare force majeure, seeking to delay payments.
TSLA · · Neutral Tesla is holding a Semi event tonight for its long-delayed $290,000 truck; article gives no clear positive or negative driver.
Oracle Declares Unusual Force Majeure at New Mexico AI Data Center
Oracle is considering declaring force majeure on an AI data center project being built in New Mexico, according to a Bloomberg report. The project's developer is a unit of Blue Owl, a firm at the center of concerns over the private credit boom, and both Oracle and Blue Owl shares traded lower on the news. Oracle is not seeking to exit its role as the main tenant, but is trying to delay payments if the project is derailed and does not come online in 2028, in an effort to reduce its own financial liability and exposure. The force majeure reasoning cited is opposition and regulatory setbacks, which hosts noted is not a traditional force majeure declaration, since such clauses typically cover war, earthquakes, severe weather, or other acts of God outside a party's control. The hosts said it remains unclear from the report exactly what rationale underlies the declaration, and questioned whether regulatory setbacks could have been foreseen, a question courts may have to wrestle with.
Artificial Intelligence › AI Compute Cloud & Neoclouds Demand
ORCL · Regulation · Negative Oracle is considering declaring force majeure on its New Mexico AI data center, citing regulatory setbacks and opposition, to delay payments and reduce its financial exposure.
OWL · Regulation · Negative Blue Owl's unit is the developer of the New Mexico AI data center project facing Oracle's potential force majeure declaration over regulatory setbacks.
BlackRock-Led Consortium in Exclusive Talks for $25 Billion Stack Asia Data Center Deal
A consortium backed by BlackRock and IFM Investors has entered exclusive talks to acquire Stack Infrastructure's Asia-Pacific data center portfolio for up to $25 billion, according to Bloomberg News. The group, which includes the BlackRock-backed Artificial Intelligence Infrastructure Partnership, is preparing due diligence on the assets and hopes to reach an agreement soon with Stack owner Blue Owl Capital. Stack operates facilities in major Asia-Pacific markets including Tokyo, Osaka, Sydney and Melbourne, and Bloomberg previously reported in May that the company was considering a sale of its Asia operations at a valuation above $30 billion. Reuters said the talks remain ongoing and could be extended or fail to produce an agreement, and BlackRock, IFM, Stack and AIP did not immediately respond to requests for comment. AIP launched in late 2024 with plans to initially invest more than $30 billion in AI-related infrastructure, including data centers and energy facilities, with Nvidia, Microsoft, xAI and MGX among its investors.
BLK · Capital · Positive BlackRock-backed consortium in exclusive talks to acquire Stack's Asia-Pacific data center portfolio for up to $25B, expanding its AI infrastructure investments.
Stack Infrastructure · Capital · Positive Stack Infrastructure is the subject of exclusive talks for a $25B sale of its Asia-Pacific data center portfolio.
OWL · Capital · Positive Blue Owl-owned Stack is in exclusive talks to sell its Asia-Pacific data center portfolio for up to $25B, a major asset sale.
Big Tech's $300 Billion AI Guarantees Conceal Off-Balance-Sheet Risk
Technology companies have provided as much as $300 billion in guarantees for AI data centers and chips over the past year, according to the Financial Times, creating a financing structure that could change how investors assess the risks behind the artificial intelligence spending boom. The guarantees establish minimum future values for computing equipment or data centers owned by special-purpose entities, and if those assets later sell or lease for less than the guaranteed amount, the technology company could be responsible for part of the shortfall. Broadcom has provided about $29 billion in backing for a vehicle that will purchase chips and lease them to Anthropic, while Nvidia has agreed to support as much as 25% of certain infrastructure financing packages and provided $105 billion in guarantees tied to an Ohio data center campus for OpenAI. Meta has also provided a $28 billion guarantee for a data center venture with Blue Owl, and Morgan Stanley estimates seven major cloud and chip companies have accumulated more than $3.1 trillion in off-balance-sheet commitments and other credit support. Analysts generally view the underlying assets as sufficient collateral so far, but the equation could change if AI demand slows, equipment becomes obsolete faster or data-center capacity exceeds customer needs, leaving investors to watch whether AI infrastructure spending generates enough cash flow to support the financing structures behind the boom.
Artificial Intelligence › AI Compute & Accelerator Silicon Capital
Cloud & Digital Infrastructure › Hyperscale Cloud (IaaS / PaaS) Capital
Artificial Intelligence › AI Data Center & Build-out Capital
Cloud & Digital Infrastructure › Mega-cap Hyperscalers Capital
Artificial Intelligence › AI Compute Cloud & Neoclouds Capital
Artificial Intelligence › Foundation Models & Research Labs Capital
AVGO · Capital · Negative Broadcom provided about $29 billion in guarantees for a chip-purchasing vehicle leasing to Anthropic, adding off-balance-sheet risk if AI demand slows.
NVDA · Capital · Negative Nvidia agreed to support up to 25% of certain infrastructure financing packages and provided $105 billion in guarantees tied to an Ohio data center campus for OpenAI.
META · Capital · Negative Meta provided a $28 billion guarantee for a data center venture with Blue Owl, an off-balance-sheet commitment that could become a liability.
MS · Capital · Neutral Morgan Stanley is cited only as the estimator of $3.1 trillion in off-balance-sheet commitments, not as a party exposed to the guarantees.
OWL · Capital · Neutral Blue Owl is mentioned only as Meta's data center venture partner, with no detail on its own exposure or impact.
Data Center IPO Wave Accelerates as Nearly a Dozen Firms Seek Public Markets
Nearly a dozen data center companies have gone public, filed for an IPO or been reported to be exploring one over the past year, with the pace accelerating over the past three months. Recent listings include Blackstone Digital Infrastructure Trust, Brookfield-backed colocation provider Csquare and Texas startup Fermi, while Switch and Singapore-based DayOne have confidentially filed, SoftBank-backed SB Energy has publicly filed and AI data center specialist Nscale is reportedly preparing a listing. Major digital infrastructure players Vantage Data Centers, CyrusOne, Blue Owl, DataBank and EdgeCore are all reportedly at least exploring IPOs, a reversal from 2021 and 2022 when take-private deals including Blackstone's $10B acquisition of QTS left just two listed data center firms. Industry leaders say no single force is driving the shift, attributing it instead to the trillions of dollars required for AI infrastructure and a growing diversity of public equity strategies. Blue Owl is reportedly planning a REIT seeded with around $6.5B of its own stabilized data center assets, while SB Energy is reportedly seeking a valuation of more than $50B despite still developing its first campus.
Artificial Intelligence › AI Data Center & Build-out ▲Capital
CSQR · Capital · Positive Csquare is named as a recently listed Brookfield-backed colocation provider, a positive IPO/capital event.
FRMI · Capital · Positive Texas startup Fermi is cited among recent data center listings, a positive capital-markets development for the company.
DayOne · Capital · Neutral Singapore-based DayOne has confidentially filed for an IPO, a capital-markets event with no stated valuation or outcome.
OWL · Capital · Positive Blue Owl is reportedly planning a REIT seeded with around $6.5B of its own stabilized data center assets.
Nscale · Capital · Positive AI data center specialist Nscale is reportedly preparing a listing, a positive capital-markets development.
SB Energy · Capital · Neutral SB Energy publicly filed for an IPO and is reportedly seeking a valuation above $50B while still developing its first campus.
Trustmark Sells 34 Branches to Blue Owl Real Estate for $91.7M
Trustmark Bank, a wholly owned subsidiary of Trustmark Corporation, sold 34 branch properties to Blue Owl Real Estate Capital for $91.7M in a sale-leaseback transaction. Under the deal, Trustmark will lease the properties back from Blue Owl for an initial 15-year term, paying $6.4M in initial combined annual rent, with rent increasing 1.5% each year, and the bank holds three consecutive renewal options of five years each. The sale-leaseback generated a pre-tax gain of about $61.5M for Trustmark, offset by a loss of about $61.5M on securities portfolio restructuring. The branches are located in Mississippi, Florida, Tennessee, Alabama, and Texas.
TRMK · Capital · Positive Trustmark's sale-leaseback generated a ~$61.5M pre-tax gain, though offset by a ~$61.5M securities restructuring loss.
OWL · Capital · Positive Blue Owl Real Estate Capital acquires 34 Trustmark branch properties for $91.7M in a sale-leaseback, expanding its real estate portfolio.
Blue Owl Capital is considering a publicly traded data center REIT seeded with about $6.5 billion of its own assets, according to a Bloomberg report. The vehicle could raise additional capital through an IPO and later share sales to fund data center acquisitions and portfolio growth. The proposed structure would give public investors exposure to an initial portfolio rather than a blind pool, similar to Blackstone Digital Infrastructure Trust but with seeded assets as an anchor. Deliberations are ongoing, and details could change; Blue Owl declined to comment. Blue Owl shares rose as much as 1.2% after the report, though they remained down nearly 21% for the year, leaving the asset manager with a market value above $18 billion. This move follows recent data center listings by Blackstone and Brookfield as AI infrastructure spending accelerates. Blue Owl closed its latest digital infrastructure fund in May with $7 billion in commitments and manages over $319 billion in assets. Its data center holdings include Stack Infrastructure, which Bloomberg previously reported was considering options for its Asian business, including a potential sale valued above $30 billion.
Blue Owl Capital has reportedly cut the value of its loans to specialty materials maker Loparex to near zero, raising fresh concerns about valuation practices in the $1.8 trillion private credit sector. The write-down, reported by Bloomberg News, involves Blue Owl's publicly traded business development company, OBDC, which moved its exposure to Loparex to non-accrual status after the second quarter. Moody's this week downgraded Loparex's Probability of Default Rating over missed term loan interest payments, with a negative outlook reflecting concerns that a Chapter 11 bankruptcy could follow. The rapid deterioration shows that a loan recently valued close to par can lose value quickly once a borrower enters financial distress.
OBDC · Capital · Negative OBDC moved its Loparex loan exposure to non-accrual and slashed the loan value to near zero, a direct hit to its portfolio valuation.
Loparex Group · Capital · Negative Loparex's loan was written down to near zero and Moody's flagged possible Chapter 11 after missed term loan interest payments.
OWL · Capital · Negative Blue Owl Capital's private credit valuation practices face fresh concerns after the Loparex write-down at its BDC.
MCO · Capital · Negative Moody's downgraded Loparex's Probability of Default Rating over missed interest payments, a credit-rating action tied to the loan write-down.
IREN shares climbed 4% to $43.51 after securing a $2.4 billion GPU financing package led by Blue Owl Capital, validating its pivot from Bitcoin mining to AI cloud services. The package, split evenly between a term loan and senior secured notes, carries a 9% coupon, which is notably higher than the 6% coupon Cipher Mining recently paid on its $810 million bond offering for its Stingray facility, underscoring the cost difference between equipment-level GPU financing and hyperscaler-backed data-center debt. Cipher Digital also gained 2% to $17.68 as investors read across the terms. IREN's AI Cloud segment revenue more than doubled sequentially to $70.5 million last quarter, and the company targets over $4 billion in annual recurring revenue by year-end, with 2026 capacity largely sold out. The financing news comes after IREN reported a $684 million quarterly net loss driven by mining-hardware impairments.
Blue Owl Funds Lead $2.4 Billion AI Factory Financing for IREN
Blue Owl Capital Inc. announced that funds it manages led a $2.4 billion compute equipment financing for IREN Limited, a vertically integrated AI Cloud platform. The financing consists of a $1.2 billion senior secured term loan and $1.2 billion of senior secured notes, with proceeds funding IREN's purchase of air-cooled NVIDIA Accelerated Computing Infrastructure, including NVIDIA Blackwell Ultra GPUs, for its Mackenzie data center campus in British Columbia, Canada. The facility is structured to fund equipment purchases in tranches over a defined draw period, aligning capital deployment with hardware delivery and commissioning. This transaction supports IREN's AI Cloud infrastructure build-out, underpinned by a more than 5GW global data center development pipeline. Blue Owl's Senior Managing Director Kurt Tenenbaum highlighted the firm's operating experience across over 100 data centers worldwide, while NVIDIA's Nico Caprez called the financing a repeatable model for AI infrastructure at scale.
WSJ: $3 trillion in AI spending kept off balance sheets
The Wall Street Journal reports that nine top tech companies have $3 trillion in off-balance-sheet commitments, most related to AI. The report breaks down $1.2 trillion in uncommenced leases and $1.9 trillion in purchase obligations for chips and other data center components. It highlights Meta's Hyperion project in Louisiana, where a special vehicle owns the data center, with Meta holding 20% and Blue Owl 80%, and debt held by Beignet investor. The Journal raises concerns about who ultimately bears the risk, suggesting pension and retirement funds may be exposed.
Meta Platforms is using joint ventures to help fund some of its enormous data-center buildout, keeping some of the related debt off its balance sheet. One is Hyperion, Meta's data-center facility in Louisiana, a project with $27 billion of development expenditures owned 80% by Blue Owl Capital funds and 20% by Meta, which will lease the completed facilities and provide a residual-value guaranty on some of the project's future value. The company used a similar strategy for a data-center project in El Paso with BlackRock valued at approximately $14 billion, with about $12.5 billion of loan financing and more guaranties. The frameworks let Meta spread the initial finance load as it ramps up spending on AI infrastructure, but the danger is that Meta could still be on the hook financially if the value of those assets falls drastically or if those endeavors demand alternative accounting treatment down the line.
META · Capital · Neutral Meta uses joint ventures to fund data centers, keeping debt off balance sheet but with potential future financial risk.
OBDC · Capital · Neutral Blue Owl Capital funds own 80% of Hyperion, a $27 billion project, but the news is about Meta's funding strategy, not Blue Owl's performance.
OWL · Capital · Neutral Blue Owl Capital Inc is the parent of the funds involved in the Hyperion project, but the article does not discuss its own financials or outlook.
BLK · Capital · Neutral BlackRock is mentioned as a partner in a similar data-center project, but the news focuses on Meta's strategy, not BlackRock's own impact.
Blue Owl Capital closes European net lease fund oversubscribed at €1.6 billion
Blue Owl Capital announced the close of its European net lease fund with €1.6 billion of capital commitments, exceeding the original target of €1.0 billion and its previous hard cap of €1.5 billion. The Blue Owl Real Estate European Net Lease Fund is focused on acquiring single-tenant net leased real estate and infrastructure assets that are mission-critical to the operations of blue-chip, investment-grade tenants. The alternative asset manager believes the European net lease market is structurally underserved. OWL shares were 3.00% higher at $11.50 around noon trading on Tuesday.
KKR's Arctos unit considers at least $250 million investment in insurer partly managed by Blue Owl
KKR & Co.'s Arctos unit is reportedly considering an investment of at least $250 million in an insurer whose assets are partly managed by Blue Owl Capital, according to people familiar with the matter. The preferred equity investment is expected to come out of the $6.2 billion Arctos Keystone Partners Fund I, which provides financing for alternative asset managers. In 2024, Blue Owl agreed to buy $250 million of preferred equity in the insurer Kuvare and to acquire its asset management unit. Arctos, based in Dallas, Texas, is the largest institutional investor in professional sports franchises and a recognized innovator in providing strategic capital to asset management firms through structured solutions.
Ares and Blue Owl post resilient earnings as private credit defaults hit record 6%
Ares Capital and Blue Owl Capital reported resilient second-quarter results, while Ares Management posted record fundraising, highlighting continued institutional demand for private credit despite rising defaults, retail redemptions and liquidity concerns. Ares Management raised a record $36 billion in the second quarter, including $23.7 billion for its credit strategies, and its assets under management rose 17% from a year earlier to $671.3 billion. Ares Capital, the largest publicly traded business development company, reported core earnings of 47 cents per share, in line with the LSEG consensus estimate, and maintained its quarterly dividend with about $6 billion of available liquidity as of July 23. Blue Owl Capital reported $319 billion of assets under management at the end of June, up 12% from a year earlier, and its distributable earnings rose 9%, matching analysts' average estimate. However, Fitch Ratings said the U.S. private-credit default rate rose to a record 6.0% in the 12 months through June, from 5.7% in the previous quarter, with 32 default events in the second quarter involving 20 new borrowers. Retail-focused private-credit funds continued to receive redemption requests well above their normal quarterly repurchase limits, with second-quarter redemption requests reaching 38.1% of net asset value at Blue Owl Technology Income Corp, 18.9% at Blue Owl Credit Income Corp and 16.8% at Apollo Debt Solutions, while most funds repurchased shares equivalent to about 5% of net asset value during the quarter. Evercore estimated global private credit secondary-market volume reached $20.4 billion in the first half of 2026, up 122% from a year earlier and exceeding the total recorded in all of 2025, with GP-led deals accounting for 83% of the total.
Blue Owl Capital reports second quarter 2026 results, declares $0.23 dividend
Blue Owl Capital Inc. reported its financial results for the second quarter ended June 30, 2026, with assets under management reaching $319 billion, a five-fold increase since its listing five years ago. Co-CEOs Doug Ostrover and Marc Lipschultz attributed the growth to strong investment performance and business diversification across platforms and geographies. The company declared a quarterly dividend of $0.23 per Class A Share, payable on August 27, 2026, to shareholders of record as of August 13, 2026. Blue Owl will host an investor call on July 30, 2026, at 10:00 a.m. ET to discuss the results.
Blue Owl Capital Tied to Meta's $50 Billion Hyperion Data Center Expansion
Meta is expanding its Hyperion data center project in Louisiana to a planned investment of more than $50 billion, and Blue Owl Capital is involved through a joint venture focused on digital and AI infrastructure. The scale of the project highlights the growing role of private capital in funding large U.S. data center and connectivity projects. Blue Owl's stock last closed at $9.29, down 39.3% year to date and 48.2% over the past year, a gap that provides context for investors tracking the company. The expansion points to increasing capital needs around AI infrastructure, where Blue Owl's joint venture involvement could matter for its longer-term positioning. Future updates on project timing, capital commitments, and counterparties may help clarify how this exposure fits into the broader Blue Owl investment story.
Blue Owl acquires U.K. hospital portfolio for £1.3B
Blue Owl Capital has acquired a portfolio of 12 U.K. private hospitals from Malaysia's Employees Provident Fund for about £1.3 billion, or $1.7 billion, Bloomberg reported, citing people familiar with the transaction. The properties, currently managed by Moor Park Capital Partners, will continue to be overseen by the firm as asset manager, two of the people said, requesting anonymity because the deal has not yet been made public. The acquisition was made through Blue Owl's European Net Lease Fund, which has raised about €1.3 billion to date, one of the people said.
Jim Cramer Says He Would Avoid Blue Owl and Prefers Blackstone
Jim Cramer advised investors to avoid Blue Owl and instead buy Blackstone, citing that the private credit scare was overblown. He noted that Goldman Sachs reported only 3.24% of its investors chose to redeem their funds this month, well below the 5% allowed, signaling that private equity stocks are recovering. Cramer argued that the narrative of private credit chaos was largely manufactured by the media, leading to billions in losses for those who sold during the panic.
Blue Owl Capital caps private credit fund redemptions at 5% amid multi-billion withdrawal requests
Blue Owl Capital has enforced a 5% quarterly redemption cap on key private credit funds after receiving multi-billion US dollar withdrawal requests, testing the liquidity management of its permanent capital model. The move coincided with the firm's shift from Russell Growth indices to several Russell Value indices in late June 2026, including the Russell 1000 Value and Russell Midcap Value. The redemption caps highlight how Blue Owl's fund structures are designed to handle elevated liquidity demands without forced loan sales, while the recent completion of the Sila Realty Trust acquisition adds healthcare-focused net lease assets to its real assets platform. Analysts note that fundraising momentum and credit quality remain key swing factors, with some projecting revenue could reach about US$4.1 billion and earnings US$1.1 billion by 2029, though persistent withdrawal pressure and slower fee growth could alter that outlook.
OBDC · Capital · Negative Blue Owl Capital Corporation faces redemption caps and withdrawal pressure, threatening fee income and growth outlook.
OWL · Capital · Negative Blue Owl Capital Inc enforces redemption caps amid multi-billion withdrawal requests, impacting its permanent capital model and revenue projections.
Blue Owl keeps 5% redemption caps as OCIC requests ease from prior quarter
Blue Owl Capital maintained the industry-standard 5% quarterly withdrawal limit on two non-traded private credit funds, even as redemption requests at both funds fell compared to the prior quarter. The OCIC fund saw redemption requests totaling $3.6 billion, down from $4.2 billion in the previous quarter, though this remains higher than any competitor. The decision to keep caps reflects a structural liquidity backlog, as investors pulled a combined $12.9 billion from private credit funds targeting wealthy individuals in the first five months of 2026. Blue Owl's OTF fund also took a markdown of $490 million in the first quarter of 2026, the highest since its creation. Shares of Blue Owl rose 4.4% in premarket trading following the news.
Funds Managed by Blue Owl Capital Complete Acquisition of Sila Realty Trust
Funds managed by Blue Owl Capital have completed the acquisition of Sila Realty Trust, a net lease real estate investment trust focused on healthcare properties. Sila stockholders approved the merger with over 98% of votes in favor at a special meeting on June 26, 2026. Upon closing, Sila common stock ceased trading on the New York Stock Exchange and stockholders received $30.38 per share in cash, a roughly 19% premium over the closing price on April 17, 2026. The acquisition expands Blue Owl's core net lease strategy and its Real Assets platform, adding a portfolio of 137 healthcare properties and three undeveloped land parcels across 65 U.S. markets.
OBDC · Capital · Positive Blue Owl Capital Corporation's funds completed acquisition of Sila Realty Trust, expanding net lease strategy and Real Assets platform.
OWL · Capital · Positive Blue Owl Capital Inc's funds completed acquisition of Sila Realty Trust, expanding net lease strategy and Real Assets platform.
SummitIG Acquires Dark Fiber & Infrastructure from Blue Owl
SummitIG has completed the acquisition of Dark Fiber and Infrastructure, LLC from funds managed by Blue Owl Capital Inc. The deal adds nearly 200 miles of conduit and dark fiber assets to SummitIG's existing footprint of over 1,100 miles in Virginia, and extends its network into Maryland with nearly 60 miles reaching Baltimore. SummitIG CEO Sunny Kumar said the acquisition strengthens route diversity and capacity for hyperscalers, carriers, and large enterprises supporting cloud and AI workloads. DF&I was previously a portfolio company of Blue Owl's Digital Infrastructure platform, which grew its network reach sixfold over six years. The transaction comes as SummitIG expands across five core U.S. markets and recently formed a joint venture, SierraIG, to extend infrastructure into Mexico.
Blue Owl Capital Eyes Minority Investment in Cleveland Cavaliers
Blue Owl Capital is in advanced talks to acquire a minority stake in the NBA's Cleveland Cavaliers through its Dyal HomeCourt Partners fund, which already holds stakes in the Atlanta Hawks, Sacramento Kings, and Minnesota Timberwolves. The stake is expected to be between 5% and 10%, according to a person familiar with the situation. Sportico values the Cavaliers at $4.86 billion, making the franchise the 16th most valuable team in the NBA. Blue Owl and the Cavaliers declined to comment.
OBDC · Capital · Positive Blue Owl Capital's fund is acquiring a minority stake in the Cavaliers, a positive capital deployment and investment activity.
OWL · Capital · Positive Blue Owl Capital Inc's Dyal HomeCourt Partners fund is making a minority investment in the Cavaliers, a positive capital deployment.
Blackstone Private Credit Fund Limits Redemptions After Requests Hit 10%
Blackstone has limited redemptions from its flagship private credit fund to 5% of shares after receiving withdrawal requests for 10% of the fund. The move, described by Blackstone's chief operating officer as "a feature, not a bug," is part of a broader trend, with Blue Owl Capital and Europe's Partners Group also imposing similar caps. Rising interest rates, recession fears, and potential AI-driven disruption in the software industry are fueling concerns about smaller companies' ability to repay loans. Ares Capital reported that its non-accrual loans rose to 2.1% of its portfolio in the first quarter of 2026, up from 1.8% at the start of the year. The redemption limits are designed to prevent forced asset sales that could depress loan valuations and destabilize the private credit market.
BX · Capital · Negative Blackstone limits redemptions to 5% after 10% withdrawal requests, signaling liquidity stress in its flagship private credit fund.
OBDC · Capital · Negative Blue Owl Capital is mentioned as also imposing similar redemption caps, indicating broader sector liquidity concerns.
OWL · Capital · Negative Blue Owl Capital Inc is mentioned as also imposing similar redemption caps, indicating broader sector liquidity concerns.
PGHN.SW · Capital · Negative Partners Group is mentioned as also imposing similar redemption caps, indicating broader sector liquidity concerns.
Private credit default fears are rattling business development company investors, with the S&P BDC Index trailing the broader stock market by nearly 15 percentage points year to date. High-profile collapses such as Wheel Pros' bankruptcy and the unwinding of United Site Services have exposed embedded losses, while Blue Owl Capital's technology-focused vehicles faced withdrawal requests for 40.7% of outstanding shares in the first quarter. Moody's Ratings cut its outlook for the entire BDC sector from stable to negative in April, citing surging redemptions and elevated leverage, and Morgan Stanley projected direct-lending defaults could climb to 8%. Main Street Capital stands out by combining debt with equity co-investments in lower-middle-market companies, which has helped its net asset value per share grow 160% since its 2007 IPO, and its internally managed structure avoids the fees that peers typically charge.
MAIN · Capital · Positive Main Street Capital's internally managed structure and equity co-investment strategy have driven 160% NAV growth since IPO, differentiating it from peers facing defaults and redemptions.
OBDC · Capital · Negative Blue Owl Capital's technology-focused vehicles faced withdrawal requests for 40.7% of outstanding shares in Q1, indicating investor redemptions and stress.
OWL · Capital · Negative Blue Owl Capital Inc is the parent of Blue Owl Capital Corporation, and the article's mention of withdrawal requests at its tech vehicles implies negative impact on the parent.
United Site Services · Demand · Negative United Site Services is cited as a high-profile collapse that exposed embedded losses in the BDC sector, indicating default.
Wheel Pros, LLC (Hoonigan) · Demand · Negative Wheel Pros' bankruptcy is cited as a high-profile collapse that exposed embedded losses in the BDC sector.
Sila Realty Trust Stockholders Approve Acquisition by Blue Owl Capital Affiliates
Sila Realty Trust stockholders have approved the company's acquisition by affiliates of Blue Owl Capital. At a special meeting, more than 98% of votes cast, representing approximately 63% of outstanding shares, were in favor of the merger. Under the terms announced on April 20, 2026, common stockholders will receive $30.38 in cash per share. The transaction is expected to close on July 1, 2026, after which Sila's common stock will no longer be publicly listed.
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