Blue Owl Alternative Credit Advisors II LLC

Blue Owl Alternative Credit Advisors II LLC

Blue Owl Capital, the broader group under which Blue Owl Alternative Credit Advisors II LLC operates, was formed through the merger of Dyal Capital Partners, Owl Rock Capital, and Neuberger Berman's direct lending business in 2021. Blue Owl Alternative Credit Advisors is one of its registered investment adviser entities. The firm's wealth origin is tied to the institutional capital of Blue Owl Capital's investors, which includes pension funds, endowments, and insurance companies. Blue Owl Alternative Credit Advisors targets direct lending and structured credit opportunities. Its typical investments include senior secured loans, unitranche facilities, and specialty credit to middle-market companies. The firm has deployed capital through both separately managed accounts and commingled funds. Notable portfolio companies include those supported by Owl Rock Capital's direct lending investments, though specific holdings for this entity are not widely disclosed. The geographic footprint spans North America, with some European exposure via Blue Owl's broader platform. The firm is part of a larger asset manager that reported roughly $180 billion in assets under management as of early 2025 (per public record). Its professional headcount is not separately disclosed, but Blue Owl Capital employed over 1,000 people as of 2024. Recent activity includes Blue Owl Capital's acquisition of KKR's asset management division in 2024, though this entity's specific role is unclear. Blue Owl Alternative Credit Advisors II LLC operates as a registered investment adviser under the Blue Owl Capital umbrella. Its structural differentiator is being part of a publicly traded alternative asset manager (NYSE: OWL) that focuses exclusively on credit and GP stakes, giving it a permanent capital base and alignment with long-term institutional clients.