Capital Allocators – Inside the Institutional Investment Industry Private Equity Masters 6 – Doug Ostrover – Blue Owl Capital (Capital Allocators, EP.205)
Jul 26, 2021
Doug Ostrover, Co-Founder and CEO of Blue Owl Capital, shares his extensive experience in leveraged finance and private equity. He reflects on his journey from New Jersey to the founding of GSO, highlighting the importance of culture and relationships in finance. The conversation dives into the significance of direct lending and the unique attributes of permanent capital vehicles. Doug also discusses navigating the competitive landscape post-2008 financial crisis, emphasizing the need for resilience and continuous learning in investment strategies.
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Accidental Entry into Leveraged Finance
- Doug Ostrover's entry into leveraged finance was accidental.
- After a tax code change eliminated his job in municipal finance, he was placed in the junk bond group.
Choosing DLJ over Bear Stearns
- Doug Ostrover prioritizes personal connections when choosing employers.
- He chose DLJ over Bear Stearns, despite a lower offer, and considers it one of his best decisions.
Breakfast with Ace Greenberg
- Ace Greenberg, a legendary figure, unexpectedly invited Doug to breakfast after he resigned.
- This highlights Ostrover's growing reputation and the importance of networking.