Blue Owl Capital (OWL) Goldman Sachs 2024 U.S. Financial Services Conference summary

Strategic priorities for 2025 and beyond

• Focus on diversification, scaling, and innovation to drive the next phase of growth.

• Scaling core businesses in real estate, direct lending, and GP Stakes, with real estate growing fastest.

• Diversification and innovation pursued both organically and through acquisitions, targeting future growth areas like alternative credit and digital infrastructure.

• Emphasis on building layers of permanent capital, with 91% of revenue from permanent capital sources.

• Business model designed for durability and predictability, leveraging market-leading positions.

Integration and acquisition strategy

• Recent integrations focus on entrepreneurial teams joining to scale their businesses within the platform.

• Successful full integration of Prima (real estate credit) and Atalaya (alternative credit) teams.

• Current capabilities are sufficient for outsized growth; no immediate need for further acquisitions.

• Digital infrastructure, especially hyperscale data centers, seen as a major growth area.

• Strategy targets markets with favorable capital supply-demand imbalances.

Fundraising and product development

• Raised over $24 billion in the past year, balanced between wealth and institutional channels.

• Strong track record in direct lending, real estate, and GP Stakes supports fundraising success.

• Continuously offered products and flagship funds drive growth; new products in alternative credit and digital infrastructure planned.

• Real Estate Fund VI doubled in size over V; IPI III expected to close at $6–$7 billion.

• Ongoing expansion of product lines and international offerings, including currency-hedged products.