Owl Rock Capital
Venture debtNew York · Growth–Late Stage · 4 people tracked
Investment thesis
OBDC is a business development company focused on direct lending to U.S. middle-market companies, targeting current income and, secondarily, capital appreciation through senior secured, unitranche, subordinated, and mezzanine loans plus equity-related instruments. It emphasizes long-term credit performance, capital preservation, and favorable risk-adjusted returns across credit cycles. Target borrowers have EBITDA between $25M and $500M and/or annual revenue of $125M to $5B, with strong competitive positioning, positive cash flow, and experienced management. Investments typically range from $20M to $250M with maturities of three to ten years, funding growth, acquisitions, expansion, refinancings, and recapitalizations. ESG factors are integrated into the investment process.
Source: firm website, verified Aug 2, 2026.
Team · 4 people
from the firm's websiteCo-founder of Blue Owl Capital Corporation who leads the Credit platform's BDCs including OBDC and serves as Co-President; a member of the Credit investment committee.
Co-founder of Blue Owl Capital Corporation (2016) with decades of experience in credit, underwriting, and alternative investments; serves as Co-CEO and Co-President and sits on the Credit investment committee.
Co-founder of Blue Owl Capital Corporation with a background in alternative investments; serves as Co-CEO and Co-President and is a member of the Credit investment committee.
Investments · 8 tracked
founders shown can be your intro pathFund performance · per public LP disclosures · 11
as of Mar 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Owl Rock Capital Diversified Holdings LLC | 2021 | — | — | 0.42x | 0.42x |
| Owl Rock Diversified Lending 2020 Fund, LP | 2021 | — | — | 1.14x | 0.60x |
| Owl Rock First Lien II | 2021 | — | 2.4% | — | — |
| Owl Rock Capital Corporation III | 2020 | — | 9.4% | 1.00x | 0.14x |
| Owl Rock Capital Corporation III AC | 2020 | — | — | 1.04x | 0.02x |
| Owl Rock Diversified Holdings | 2020 | — | 0.0% | 1.00x | — |
| Owl Rock Capital Corporation | 2018 | — | 9.4% | 1.49x | 0.49x |
| Owl Rock First Lien Fund | 2018 | — | 7.3% | — | — |
| Owl Rock Technology Finance Corp | 2018 | — | 6.9% | — | — |
| Owl Rock Technology Holdings LLC | 2018 | — | 410.1% | — | — |
| Owl Rock Capital Corporation AC | 2017 | — | 6.0% | 1.17x | 0.11x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What stage does Owl Rock Capital invest at?
- Owl Rock Capital invests at the Growth, Late Stage stages.
- What is Owl Rock Capital's typical check size?
- Owl Rock Capital typically writes checks of $20M – $250M.
- What sectors does Owl Rock Capital focus on?
- Owl Rock Capital focuses on AI & Machine Learning, Biotech, Enterprise Software, Fintech, Healthtech, Medical Devices, Sector Agnostic.
- Where is Owl Rock Capital located?
- Owl Rock Capital is headquartered in New York, US.
- Does Owl Rock Capital lead rounds?
- Yes, Owl Rock Capital leads investment rounds.
Media · Podcasts & interviews
featuring the teamThe Enduring Benefit of Running Permanent Capital Vehicles with Craig Packer, Owl Rock Capital - YouTube
Planet MicroCap · Craig Packer
NYSE Floor Talk: Owl Rock Capital CEO Craig Packer - YouTube
New York Stock Exchange · Craig Packer
Images
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