Direct Lender Owl Rock, Flush With IPO Cash, Ready to Spend

Business development company is now one of industry’s largest
Investments are mainly in recession resistant first-lien debt

Jason Kelly talks to Owl Rock Capital executives at the NYSE.Markets: European Close." (Source: Bloomberg)

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By Kelsey Butler

July 18, 2019 at 2:06 PM UTC

Updated on

July 18, 2019 at 3:24 PM UTC

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Owl Rock Capital Corp., one of the largest lenders to small businesses in the U.S., is about to get even bigger.

The business development company, which has $7 billion in assets, plans to use the nearly $176 million proceeds from its initial public offering to grow its investment portfolio, CEO Craig Packer said. The BDC sits under the umbrella of Owl Rock Capital Partners LP, founded in 2016 by three Wall Street professionals with decades of experience.