Private Equity Masters 6 Doug Ostrover Blue Owl Capital (Capital Allocators, EP.205)

Published: July 26, 2021, 8 a.m.

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Doug Ostrover is the Co-Founder and CEO of Blue Owl Capital, a public company borne out of a merger combining Owl Rock Capital and Dyal Capital. Doug is also the CEO and Co-CIO of Owl Rock Capital Partners, a direct lender to middle-market companies that he co-founded in 2016 and today manages $30 billion in permanent capital assets. The combined Blue Owl manages approximately $53 billion in assets, over 90% of which is in permanent capital vehicles.

Previously, Doug was one of the founders, and the O, in GSO Capital Partners, which today is Blackstone\\u2019s alternative credit platform. He has been involved in leveraged finance working with private equity sponsors for thirty years.

Our conversation covers Doug\\u2019s beginnings in leverage financed, the founding of GSO, and keys to his early success. We then turn to the importance of culture, sourcing investment opportunities, the underwriting process, and working with both GPs and LPs. We close with Doug\\u2019s perspective on the recent formation of Blue Owl and what the future holds for direct lending.

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