Blue Owl Capital Inc. (OWL) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Blue Owl Capital's second quarter 2025 earnings call. During the presentation, our lines will remain on listen only. 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 Lipschel, our Co-Chief Executive Officer, and Alan Kirshenbaum, our Chief Financial Officer. I'd like to remind our listeners that remarks made during the call 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 shareholder 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 fund. This morning, we issued our financial results for the second quarter of 2025, reporting fee-related earnings or FRE of 23 cents per share and distributable earnings or DE of 21 cents per share. We declared a dividend of 22.5 cents per share for the second quarter, table on August 28th to holders of record as of August 14th. During the call today, we'll be referring to the earnings presentation which...