Blue Owl Q3 fee-related earnings rise 14% on record institutional fundraising

Blue Owl Capital Inc. (OWL) said on Oct. 29, 2026 that its fee-related earnings rose 14% to $427.5 million in the third quarter ended Sept. 30, as it raised more institutional capital.

The company said it raised $12.6 billion of new capital commitments in the quarter, including $10.2 billion of new equity capital. Assets under management reached $329.9 billion, up 12% from Sept. 30, 2025, according to its earnings presentation.

Here's how the company did:

• GAAP revenues: $806.5 million vs. $728.0 million a year earlier
• GAAP diluted earnings: 3 cents per share vs. 1 cent a year earlier
• Fee-related earnings: $427.5 million, up 14% from a year earlier
• Distributable earnings: $385.5 million, up 13% from a year earlier

The company's co-chief executives, Doug Ostrover and Marc Lipschultz, said in the release: “Blue Owl demonstrated durability, resilience and an acceleration of growth during the third quarter.”

The co-CEOs also said the company had “a record institutional capital raising quarter” with growth coming from a broader set of strategies, investors and geographies.

Fundraising and assets

The company said $36.3 billion of its assets under management were not yet paying fees, which it expects to generate approximately $402 million of annual management fees once deployed.

In October, the company increased the capacity of its revolving credit facility by $725 million to $3.225 billion and extended its maturity to 2031, according to the release.

Dividend

Blue Owl declared a quarterly dividend of 23 cents per Class A share. The dividend is payable on Nov. 23, 2026 to shareholders of record at the close of business on Nov. 10, 2026. The company said it announced an annual dividend of $0.92 per Class A share for 2026.

The company will host its third-quarter investor call by public webcast on Oct. 29, 2026 at 10:00 a.m. ET, according to the release.