Blue Owl Capital earnings rise 14% as real assets offset direct lending slump
Blue Owl Capital reported a 14% increase in fee-related earnings for the first quarter of 2026, reaching $393.6 million, while assets under management grew to $315 billion. However, the firm's direct lending segment posted a net loss of 1.1%, underscoring a divergence in performance across asset classes. The gains were driven by real assets, which helped counterbalance weakness in direct lending. The results highlight ongoing challenges in the private credit market amid shifting economic conditions.
Key facts
- Fee-related earnings rose to $393.6 million, up 14%.
- Assets under management climbed to $315 billion.
- Direct lending posted a net loss of 1.1%.
- Real assets offset the direct lending slump.
- Earnings gain reflects growth in fee-related income.
- First quarter 2026 results reported by Blue Owl Capital.
Entities
Institutions
- Blue Owl Capital
Sources
- Quartz —