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Owl Rock Capital Group sells minority stake to Neuberger Berman unit

Nov. 11, 2019 8:18 AM ETBlue Owl Capital Corporation (OBDC)OBDCBy: Liz Kiesche, SA News Editor5 Comments
  • Owl Rocks Capital Group sells a passive, non-voting minority stake to Dyal Capital Partners, a division of Neuberger Berman.
  • Terms of the deal weren't disclosed.
  • Owl Rock plans to use all proceeds from the transaction to invest in Owl Rock products, which are expected to include complementary product launches and strategies in 2020.
  • There will be no changes in the management, strategy, investment process, or day-to-day operations of Owl Rock or any Owl Rock managed product, including Owl Rock Capital Corporation (NYSE:ORCC), a publicly-traded business development company that is externally managed by an affiliate of Owl Rock.

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