$OWL · BLUE OWL CAPITAL INC.
Blue Owl Capital filed its Q3 2026 10-Q, reporting total revenues of $806.5M (+10.8% YoY) and GAAP net income attributable to Blue Owl Capital Inc. of $20M ($0.03 per diluted Class A share). Total AUM grew to $329.9B, up from $295.6B a year ago, with $10.2B in new capital raised during the quarter. The quarter included a $24.6M net loss on investments versus a $9.7M gain in Q3 2025, driven by unrealized losses on Level III preferred equity holdings.
- Total AUM reached $329.9B at September 30, 2026, up from $295.6B a year earlier.
- Q3 revenue grew 10.8% YoY to $806.5M, driven by management fees including $142.1M in Part I Fees.
- GAAP net income attributable to Blue Owl Capital Inc. was $20M ($0.03/share) vs. $6.3M ($0.01/share) in Q3 2025.
- Net gains on investments swung to a $24.6M loss in Q3 2026 from a $9.7M gain a year ago.
- Nine-month new capital raised was $26.8B, down from $30.0B in the prior-year period.
Markets closed — no regular-session reaction yet; extended-hours move not captured here.
Blue Owl's AUM growth trajectory remains intact at $329.9B, but the combination of decelerating new capital raised and a sharp swing to investment losses warrants scrutiny.
Blue Owl's $329.9B AUM and 10.8% revenue growth reflect continued scaling in private credit and GP stakes, though new capital raised decelerated versus the prior year, consistent with a maturing fundraising cycle across alternative asset managers.
Redemptions rose to $1.27B in Q3 2026 from $936M in Q3 2025, and sustained elevated redemptions would reduce management fees and cash flows. Level III preferred equity holdings recorded $29.2M in unrealized losses during the quarter.