Blue Owl Capital to launch Lien Fund II

The New York-based fund manager launches Lien Fund II with a $2 billion target size

Fund: Owl Rock First Lien Fund II
Target size: $2 billion
Predecessor fund: Owl Rock First Lien Fund I ($1.2 billion)

Blue Owl Capital has announced the launch of Owl Rock First Lien Fund II following the success of its predecessor vehicle.

The fund will follow the same investment strategy as its predecessor. targeting the corporate senior debt market through the deployment of a defensive, income-oriented investment approach focusing on long-term credit performance, diversified sector exposure and principal preservation.

The predecessor fund was launched in 2018, with a target size of $1.0 billion. The fund collected $1.2 billion in committed capital; 80 percent of the capital has already been called and the vehicle has generated a net IRR of 9.9 percent.