Various asset supervisor Blue Owl Capital has filed registration paperwork with the Securities and Change Fee (SEC) to launch its first interval fund.
In response to the submitting, the fund intends to cowl a variety of different credit score belongings and methods, together with asset-based finance investments. It additionally has a remit to put money into different credit score investments, with a concentrate on personal investments.
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The fund can be managed by Nicole Drapkin and Justin Burns. Drapkin is a senior managing director at Blue Owl and a member of the direct lending funding group, whereas Burns is a managing director at Blue Owl and a member of the choice credit score funding group.
Earlier than becoming a member of Blue Owl, Burns was a managing director at Atalaya Capital Administration, the predecessor agency to Blue Owl’s various credit score group, the place he was a senior member of the monetary asset funding group.
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Final 12 months, Blue Owl purchased Atalaya Capital Administration, in a $450m (£347.6m) deal meant to considerably increase its various credit score and asset-based finance capabilities.
The fund can have a 0.75 per cent administration charge, and presents entry to a variety of various kinds of buyers.
The minimal preliminary funding within the fund by any investor can be $25,000 with respect to class S shares and sophistication U shares, and $1m with respect to class I shares. The minimal further funding within the fund by any investor can be $5,000.
Blue Owl declined to touch upon the fund launch.
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