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