Blue Owl Capital Inc. · NYSE:OWL
Blue Owl Capital — Owl Rock Core Income — Investor Presentation (September 2021)
23 slides from Blue Owl Capital's investor presentation, September 2021
Slide 1: Owl Rock Core Income Corp.
Owl Rock Core Income Corp. September 2021 This is neither an offer to sell nor a solicitation of an offer to buy the securities described herein. Only a prospectus for Owl Rock Core Income Corp. can make such an offer. This material is authorized only when it is accompanied or preceded by the Owl Ro
Slide 2: Owl Rock Core Income Corp. Overview
Owl Rock | A Division of Blue Owl Owl Rock Core Income Corp. Overview Owl Rock Core Income Corp. • Leverages Owl Rock’s leading direct lending platform to seek attractive current income and provide portfolio diversification • Invests alongside Owl Rock’s existing diversified direct lending funds, re
Slide 3: About Owl Rock
Owl Rock | A Division of Blue Owl About Owl Rock Owl Rock is a leading direct lending platform managed by a seasoned executive team 25+ • Founders: Douglas Ostrover, Marc Lipschultz and Craig Packer Experience Each Co-Founder’s Years • Senior executive roles at GSO/Blackstone, KKR and Goldman Sachs
Slide 4: Owl Rock Is A Market Leader in Direct Lending
Owl Rock | A Division of Blue Owl Owl Rock Is A Market Leader in Direct Lending Owl Rock by the Numbers $34B+ 5,800+ 570+ 65+ Originated Since Deals Reviewed Partnerships with Dedicated One Private Equity Investment Deal Funnel Inception Since Inception Sponsors Professionals Select Accolades1 2020
Slide 5: $31.2B In AUM Across Complementary Verticals
Owl Rock | A Division of Blue Owl $31.2B In AUM Across Complementary Verticals Owl Rock leverages existing origination & underwriting functions to provide solutions for borrowers Diversified Direct First Lien Technology Opportunistic Lending Lending Lending Lending AUM1 $19.8 billion1 $3.2 billion $
Slide 6: Investing in Today’s Market is Challenging
Investing in Today’s Market is Challenging
Slide 7: Equity Valuations are Well Above Historical Averages
Owl Rock | A Division of Blue Owl Equity Valuations are Well Above Historical Averages S&P 500 Price Since March 2008 P/E Ratios Today Vs. 20-Year Averages 27.0x 4000 3750 25.0x 3500 23.0x 3250 3000 21.0x 2750 19.0x 2500 2250 17.0x 2000 15.0x 1750 13.0x 1500 1250 11.0x 1000 9.0x 750 500 7.0x Dec-08
Slide 8: Traditional Fixed Income Has Become Unreliable
Owl Rock | A Division of Blue Owl Traditional Fixed Income Has Become Unreliable Interest rates are at or near historic lows, making it difficult for investors to pursue their income goals Fixed Income Yields Today vs. 20 Years Ago 14.00% 12.71% 12.00% 10.00% 8.00% 6.72% 6.09% 6.00% 5.34% 4.57% 3.75
Slide 9: Direct Lending Has Been a Consistent Source of Income
Owl Rock | A Division of Blue Owl Direct Lending Has Been a Consistent Source of Income Cliffwater Direct Lending Index Performance Annual Total Returns Since Inception Annual Income Return Since Inception 20% 20% 16% 14% 14% 14% 13% 13% 14% 12%12%12%13% 11% 12% 12% 10% 10% 10% 11%11% 11%11%11% 10%
Slide 10: Why Owl Rock?
Why Owl Rock?
Slide 11: Competitive Advantages
Owl Rock | A Division of Blue Owl Competitive Advantages As an extension of Owl Rock’s leading direct lending platform, ORCIC may possess a number of advantages • Dedicated sponsor coverage model distinguishes Owl Rock from other lenders Distinct Sponsor • Relationship-oriented approach at all level
Slide 12: A Track Record of Delivering Returns
Owl Rock | A Division of Blue Owl A Track Record of Delivering Returns Similar Fund Level Performance Net Returns1 Inception Date 1 -Year 3-Year 5-Year Since Inception Owl Rock Capital Corporation2 March 2016 12.7% 11.8% 9.1% 9.0% Owl Rock Capital Corporation II3 April 2017 11.8% 7.7% N/A 8.4% As of
Slide 13: Deep Sponsor Relationships Drive Deal Flow
Owl Rock | A Division of Blue Owl Deep Sponsor Relationships Drive Deal Flow Owl Rock has generated deal flow from more than 570 sponsors Select sponsors with whom we’ve transacted As of Report Date. Sponsors shown for educational purposes only and represent some of the more recognizable names to in
Slide 14: Strong Origination Activity and Disciplined Underwriting
Owl Rock | A Division of Blue Owl Strong Origination Activity and Disciplined Underwriting Robust pipeline with more than 5,800 deals reviewed since inception coupled with a rigorous screening process enables the team to pursue only the highest conviction investment opportunities Q2’21 Q1’21 Q4’20 S
Slide 15: Portfolio and Performance
Portfolio and Performance
Slide 16: ORCIC Portfolio Snapshot
Owl Rock | A Division of Blue Owl ORCIC Portfolio Snapshot Industry Diversification Breakdown by Asset Type 1% <1% 18% 23% 21% 11% 4% 5% 78% 6% 11% 6% 7% 9% Insurance Internet software and services First Lien Senior Secured Advertising and media Leisure and entertainment Second Lien Senior Secured M
Slide 17: Select Case Studies
Owl Rock | A Division of Blue Owl Select Case Studies Par Technology • Par Technology is a provider of point-of-sale (POS) solutions for restaurants and retailers with a focus on multi-unit and enterprise fast casual, quick service, and table service restaurants. The government • $180 million First
Slide 18: ORCIC Performance
Owl Rock | A Division of Blue Owl ORCIC Performance Total Returns (unannualized)1 ITD3 2021 Jan Feb Mar Apr May Jun Jul Aug ITD2 (Max Sales YTD Load) Class S - - - 0.49% 0.70% 0.70% 0.48% 0.48% 2.88% 2.88% -0.56% Class D - - 0.53% 0.43% 0.75% 0.75% 0.53% 0.53% 3.58% 3.58% 2.04% Class I4 - - 0.56% 0.
Slide 19: ORCIC Summary of Key Terms
Owl Rock | A Division of Blue Owl ORCIC Summary of Key Terms Blue Owl Commitment $100 million in the form of equity and debt Perpetually non-traded business development company; ORCIC does not intend to seek a Structure liquidity event Fund Leverage Target 0.9x – 1.25x debt-to-equity with regulatory
Slide 20: ORCIC Risk Factors
ORCIC Risk Factors An investment in Owl Rock Core Income Corp. (“ORCIC”) is speculative and involves a high degree of risk, including the risk of a substantial loss of investment, as well as substantial fees and costs, all of which can impact an investor's return. The following are some of the risks
Slide 21: Important Information
Important Information Unless otherwise indicated, the Report Date reference is 6/30/2021. Past performance is not a guide to future results and is not indicative of expected realized returns. Assets Under Management (“AUM”) refers to the assets that we manage and are generally equal to the sum of (i
Slide 22: Important Information Continued
Important Information Continued Performance Information: Where performance returns have been included in this presentation, Blue Owl has included herein important information relating to the calculation of these returns as well as other pertinent performance related definitions. All investments are
Slide 23: Owl Rock | A Division of Blue Owl
Owl Rock | A Division of Blue Owl ORCIC-DECK-9-21
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