The Intrinsic Value Podcast - The Investor’s Podcast Network

TIVP009: Blue Owl Capital (OWL): The Next Blackstone? w/ Shawn O’Malley

29 snips
Mar 2, 2025
Discover the rapid rise of Blue Owl Capital, a contender in alternative asset management. Learn how this firm emerged from strategic mergers and now manages over $230 billion. Explore the fascinating dynamics of permanent capital and why investors are increasingly drawn to private credit. Dive into the challenges of valuing financial services businesses and the risks associated with rapid growth. Shawn O’Malley reveals insights on investment strategies and the unique position Blue Owl holds in today's financial landscape.
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ANECDOTE

Blue Owl's SPAC Origin

  • Blue Owl Capital's origin traces back to a SPAC called Ultimer Acquisition Corporation during the 2020 market exuberance.
  • It merged with Al Rock Capital and Dyal Capital, focusing on direct lending and GP capital solutions.
INSIGHT

Blue Owl's Business Model

  • Blue Owl focuses on direct lending to mid-market businesses, providing capital solutions to private equity firms.
  • It also invests in triple-net lease real estate, offering an alternative to traditional financing.
INSIGHT

Dyal Capital's Strategy

  • Dyal Capital, founded by ex-Lehman Brothers bankers, invests in top hedge funds, private equity firms, and even sports franchises.
  • It provides early liquidity to fund managers, offering a way to convert paper wealth into cash.
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