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Investments (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Investments [Abstract]

Schedule of Investments

The table below presents the composition of investments at fair value and amortized cost as of the following periods:

						As of June 30, 2026												As of December 31, 2025
						Amortized Cost						Fair Value						Amortized Cost						Fair Value
First-lien senior secured debt investments						$	11,202,149					$	10,937,849					$	12,215,994					$	12,048,934
Second-lien senior secured debt investments						931,923						674,223						975,790						848,575
Unsecured debt investments						367,689						377,224						384,569						399,962
Specialty finance debt investments						170,984						171,254						157,004						157,297
Preferred equity investments						308,544						262,536						592,714						568,977
Common equity investments						460,949						714,693						473,881						644,304
Specialty finance equity investments						1,238,485						1,426,590						1,195,614						1,386,739
Joint ventures						432,793						390,680						422,213						416,105
Total Investments						$	15,113,516					$	14,955,049					$	16,417,779					$	16,470,893

The table below presents the industry composition of investments based on fair value as of the following periods:

						As of June 30, 2026						As of December 31, 2025
Advertising and media						2.6		%				2.4		%
Aerospace and defense						1.5						1.4
Asset based lending and fund finance(1)						7.4						6.5
Automotive services						2.1						3.3
Buildings and real estate(5)						4.4						4.6
Business services						2.9						2.7
Chemicals						3.7						3.3
Consumer products						2.5						2.3
Containers and packaging						3.0						2.8
Distribution						1.3						1.3
Education						0.2						0.3
Energy equipment and services						0.5						0.5
Financial services						3.7						3.8
Food and beverage						5.2						5.0
Healthcare equipment and services						4.8						4.4
Healthcare providers and services						8.5						9.0
Healthcare technology						5.8						6.3
Household products						1.8						1.7
Human resource support services						1.6						2.0
Infrastructure and environmental services						3.0						2.3
Insurance(3)						6.1						6.3
Internet software and services						11.6						11.1
Joint ventures(2)						2.6						2.5
Leisure and entertainment						2.3						2.0
Manufacturing						3.8						5.3
Pharmaceuticals(4)						1.9						1.3
Professional services						2.4						2.9
Specialty retail						2.3						2.1
Telecommunications						0.1						0.1
Transportation						0.4						0.5
Total						100.0		%				100.0		%

_______________

(1)Includes investments in Wingspire, BOCSO and Amergin AssetCo.

(2)Includes investment in Credit SLF and Blue Owl Leasing. See below, within Note 4, for more information about Credit SLF and Blue Owl Leasing.

(3)Includes investment in Fifth Season.

(4)Includes investments in LSI Financing DAC and LSI Financing LLC.

(5)Includes investments in Owl-HP Finance.

The table below presents the geographic composition of investments based on fair value as of the following periods:

						As of June 30, 2026						As of December 31, 2025
United States:
Midwest						21.2		%				20.6		%
Northeast						18.7						21.2
South						37.5						36.8
West						15.4						14.8
International						7.2						6.6
Total						100.0		%				100.0		%

Schedule of Capital Commitment and Economic Ownership

As of June 30, 2026, the capital commitment and economic ownership of each Credit SLF Member is as follows:

Members												Capital Commitment						Net Contributed Capital						Economic Ownership Interest(1)
Blue Owl Capital Corporation												$	446,460					$	431,928					64.4		%
Blue Owl Capital Corporation II(2)												244						244						0.0		%
Blue Owl Credit Income Corp.												136,419						99,482						14.8		%
Blue Owl Technology Finance Corp.												53,812						39,656						5.9		%
Blue Owl Technology Income Corp.												16,161						16,161						2.4		%
State Teachers Retirement System of Ohio												93,299						83,924						12.5		%
Total												$	746,395					$	671,395					100.0		%

_______________

(1)    This represents each equity holder’s ownership percentage at June 30, 2026 based on net contributed capital.

(2)    Economic ownership interest for Blue Owl Capital Corporation II is 0.04%.

As of June 30, 2026, the capital commitment, called capital and economic ownership of each Blue Owl Leasing Member is as follows:

Members												Capital Commitment						Net Contributed Capital						Economic Ownership Interest(1)
Blue Owl Capital Corporation												$	860					$	860					2.2		%
Blue Owl Capital Corporation II												90						90						0.2		%
Blue Owl Credit Income Corp.												30,952						1,900						4.7		%
Blue Owl Technology Finance Corp.												8,955						800						2.0		%
Blue Owl Technology Income Corp.												3,918						350						0.9		%
Blue Owl Alternative Credit Fund												31,000						31,000						77.5		%
California State Teachers Retirement System												10,825						5,000						12.5		%
Total												$	86,600					$	40,000					100.0		%

_______________

(1)     This represents each equity holder’s ownership percentage at June 30, 2026, based on net contributed capital.

Schedule of Financial Information

The table below sets forth Credit SLF’s consolidated financial data as of and for the following periods:

						As of June 30, 2026						As of December 31, 2025
Consolidated Balance Sheet Data
Cash						$	258,490					$	124,718
Investments at fair value						2,624,338						2,343,367
Total Assets						2,903,962						2,477,523
Total Debt (net of unamortized debt issuance costs)						2,069,196						1,728,363
Total Liabilities						2,296,807						1,863,454
Total Credit SLF Members’ Equity						$	607,155					$	614,069

						For the Three Months Ended June 30,												For the Six Months Ended June 30,
						2026						2025						2026						2025
Consolidated Statement of Operations Data
Income
Investment income						$	42,053					$	31,420					$	83,057					$	55,117
Expenses
Net operating expenses						26,186						18,482						51,216						32,139
Net investment income (loss)						$	15,867					$	12,938					$	31,841					$	22,978
Total net realized and unrealized gain (loss)						(7,626)						9,319						(59,616)						(6,785)
Net increase (decrease) in Credit SLF Members’ Equity resulting from operations						$	8,241					$	22,257					$	(27,775)					$	16,193

The Company’s proportional share of Credit SLF’s distributions for the following periods:

						For the Three Months Ended June 30,																								For the Six Months Ended June 30,
						2026						2025																		2026						2025
Dividend income						$	10,390					$	10,034																	$	19,253					$	18,687

The table below sets forth Blue Owl Leasing’s consolidated financial data as of and for the following periods:

						As of June 30, 2026						As of December 31, 2025(1)
Consolidated Balance Sheet Data
Cash						$	3,344					$	34,555
Investments at fair value						39,680						39,628
Total Assets						43,407						74,531
Total Debt (net of unamortized debt issuance costs)						2,512						9,754
Total Liabilities						3,486						10,076
Total Blue Owl Leasing Members’ Equity						$	39,921					$	64,455

_______________

(1)    Blue Owl Leasing’s date of inception was June 30, 2025.

						For the Three Months Ended June 30,									For the Six Months Ended June 30,
						2026															2026
Consolidated Statement of Operations Data
Income
Investment income						$	1,044														$	2,087
Expenses
Net operating expenses						785															1,656
Net investment income (loss)						$	259														$	431
Total net realized and unrealized gain (loss)						132															(107)
Net Increase (Decrease) in Blue Owl Leasing Members’ Equity Resulting From Operations						$	391														$	324

The Company’s proportional shares of Blue Owl Leasing’s distributions for the following periods:

						For the Three Months Ended June 30,																		For the Six Months Ended June 30,
						2026																								2026
Dividend income						$	4																							$	4

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
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-Section 50
-Paragraph 6
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
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-Section 50
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-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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