Blue Owl Capital has responded to the challenges of the current fundraising environment by offering a special deal to investors who make an early commitment to its sixth fund aimed at investing in private equity firms, according to a report by Bloomberg.
The report cites unnamed sources with knowledge of the matter as revealing that investors who close before 15 June are being offered a discount of 100 basis points on the management fees for the first 12 months. Investors who commit and close at least $25m on or before that date will receive the same discount on future incremental commitments.
The New York-based firm is reportedly targeting around targeting about $13bn for the fund with a first close possibly being held sometime early next year, according to one of Bloomberg’s sources.
Blue Owl takes stakes in asset managers and offers direct lending to companies. It has backed firms including Robert F Smith’s Vista Equity Partners, CVC Capital Partners, ICONIQ Capital and financial services investor TowerBrook Capital Partners.
