Blue Owl Capital Inc. - 2026年季度报告

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No☒ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. Class A common stock, par value $0.0001Class B common stock, par value $0.0001Class C common stock, par value $0.0001Class D common stock, par value $0.0001 TABLE OF CONTENTS Item 1.Financial StatementsItem 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and Procedures PART IIOTHER INFORMATIONItem 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignaturesIndex to Financial Statements DEFINED TERMS Refers to our annual report for the year ended December31, 2025, filed with the SEC on Form 10-K onFebruary19, 2026. Assets Under Management orAUM Atalaya Acquisition our BDCs Refers collectively to Blue Owl Capital GP Holdings LLC, Blue Owl Capital GP LLC, and certain otherdirectly or indirectly wholly owned subsidiaries of the Registrant that hold the Registrant’s interests inBlue Owl Holdings. Blue Owl GP Blue Owl HoldingsBlue Owl Operating Group Refers to Blue Owl Capital Holdings LP. Refers collectively to Blue Owl Holdings and its consolidated subsidiaries. Refers to the transactions contemplated by the business combination agreement dated as of December 23,2020 (as the same has been or may be amended, modified, supplemented or waived from time to time), byand among Altimar Acquisition Corporation, Owl Rock Capital Group LLC, Owl Rock Capital FeederLLC, Owl Rock Capital Partners LP and Neuberger Berman Group LLC, which transactions werecompleted on May 19, 2021. Class A SharesClass B Shares Refers to the Class B common stock, par value $0.0001 per share, of the Registrant. Refers to the Class D common stock, par value $0.0001 per share, of the Registrant. Refers to the AUM on which management fees and/or FRE performance revenues are earned. For ourRegulated Products, FPAUM is generally equal to total assets (including assets acquired with debt butexcluding cash). For our other Credit products, excluding CLOs, FPAUM is generally equal to NAV,investment cost, market value or statutory book value. FPAUM also includes uncalled committed capitalfor products where we earn management fees thereon. For CLOs and other securitizations, FPAUM isgenerally equal to the par value of collateral. For Real Assets, FPAUM is generally equal to a combinationof capital commitments, the cost of unrealized investments during the investment period and the cost ofunrealized investments after the investment period; however, for certain Real Assets products, FPAUM isbased on NAV, market value or statutory book value. For our GP Strategic Capital products, FPAUM for Financial StatementsGAAP Refers to our consolidated financial statements included in this report.Refers to U.S. generally accepted accounting principles. AVAILABLE INFORMATION We file annual, quarterly and current reports, proxy statements and other information required by the Securities Exchange Act of 1934, asamended (the “Exchange Act”), with the SEC. We make available free of charge on our website(www.blueowl.com)our annual reports onForm 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, proxy statements and other filings as soon as reasonably practicableafter such material is electronically filed with or furnished to the SEC. We also use our website, our corporate X account (@BlueOwlCapital or www.x.com/BlueOwlCapital) and our corporate LinkedIn account (www.linkedin.com/company/blue-owl-capital) to distribute companyinformation, including assets under management and performance information, and such information may be deemed material. Accordingly,investors should monitor our website, any alerts and social media channels, in addition to our press releases, SEC filings and public conference Also posted on our website in the “Shareholders—Governance” section is the charter for our Audit Committee, as well as our CorporateGovernance Guidelines and Code of Business Conduct governing our directors, officers and employees. Information on or accessible throughour website, any alerts and social med