Blue Owl Capital Corporation (OBDC) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Blue Owl Capital's third quarter 2025 earnings call. During the presentation, your lines will remain on listen only. After the presentation, there will be a question and answer session. To ask a question, please press star one on your telephone keypad. I'd like to advise all parties that this conference call is being recorded. I will now turn the call over to Anne Dye, Head of Investor Relations for Blue Owl. Thanks, Operator, and good morning to everyone. Joining me today are Mark Lipschultz, our Co-Chief Executive Officer, and Alan Kirshenbaum, our Chief Financial Officer. I'd like to remind our listeners that remarks made during the calls may contain forward-looking statements which are not a guarantee of future performance or results and involve a number of risks and uncertainties that are outside the company's control. Actual results may differ materially from those in forward-looking statements as a result of a number of factors, including those described from time to time in Blue Owl Capital's filings with the Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statements. We'd also like to remind everyone that we'll refer to non-GAAP measures on the call, which are reconciled to GAAP figures in our earnings presentation, available on the shareholders section of our website at blueowl.com. Please note that nothing on this call constitutes an offer to sell or a solicitation of an offer to purchase an interest in any Blue Owl funds. This morning, we issued our financial results for the third quarter of 2025, reporting fee-related earnings, or FRE, of 24 cents per share and distributable earnings, or DE, of 22 cents per share. We declared a dividend of 22.5 cents per share for the third q...