Revenue

Blue Owl Capital·Products & Services·18 segments·Rolls up to Total Revenue

Breakdown

Segment	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Direct lending	—	$296.97M	$303.01M	$299.09M	$314.73M	$348.06M	$346.27M	$337.47M
GP minority stakes	$139.49M	$152.63M	$157.34M	$148.44M	$154.27M	$157.49M	$154.98M	$150.34M
Net lease	$40.85M	$41.25M	$45.16M	$46.84M	$47.51M	$50.96M	$56.79M	$65.38M
Administrative, transaction and other fees	$83.91M	$77.29M	$69.68M	$51.61M	$78.76M	$82.15M	$87.58M	$56.64M
Digital infrastructure	—	—	—	$52.23M	$48.23M	$30.42M	$33.73M	$34.81M
Alternative credit	—	$671K	$19.16M	$21.19M	$19.32M	$19.76M	$30.15M	$30.37M
Investment grade credit	—	$13.26M	$14.63M	$16.69M	$16.2M	$17.62M	$17.1M	$17.8M
Other	$6.33M	$6.56M	$7.01M	$9.93M	$12.21M	$10.81M	$9.03M	$16.06M
Real estate credit	—	$8.46M	$9.35M	$10.38M	$9.69M	$10.46M	$11.76M	$11.94M
Strategic Revenue-Share Purchase consideration amortization	-$10.66M	-$11.12M	-$11.12M	-$11.12M	-$11.12M	-$11.04M	-$11.04M	-$11.04M
Fee offsets	—	—	—	—	—	—	—	-$7.36M
Performance revenues	$188K	$280K	$4.58M	$6.31M	$979K	$188K	$19.29M	$6.07M
GP debt financing	$5.67M	$6.12M	$5.43M	$2.39M	$5.83M	$4.5M	$4.79M	$4.8M
Liquid credit	$6.74M	$7.75M	$6.47M	$7.48M	$5.56M	$5.36M	$4.75M	$4.75M
Professional sports minority stakes	$732K	$757K	$674K	$643K	$941K	$1.27M	$1.33M	$1.17M
Total	$549.85M	$600.88M	$631.36M	$683.49M	$703.11M	$727.99M	$755.6M	$753.81M

Amortization of deferred incentives paid to customers is derived from annual filings.

Total Management and Other Fees, NetView metric

Performance revenuesView metric

Direct lendingView metric

Alternative creditView metric

Investment grade creditView metric

Liquid creditView metric

Management feesView metric

Administrative, transaction and other feesView metric

Real estate creditView metric

Digital infrastructureView metric

GP minority stakesView metric

GP debt financingView metric

Professional sports minority stakesView metric

Strategic Revenue-Share Purchase consideration amortizationView metric

Amortization of deferred incentives paid to customersView metric