Blue Owl seeing ‘overreaction’ to ‘misleading’ FT headline, says Raymond James

Raymond James thinks the Financial Times headline published today, “Blue Owl permanently halts redemptions,” is leading to a 9% decline in the stock price and is “misleading” since OBDC II redemptions have been halted since November. Blue Owl Capital (OWL) is planning make the OBDC II fund investors whole over time, and thus it would not make sense to reopen the redemption window, according to the analyst, who also says that OBDC II is “a relatively small piece” of Blue Owl’s roughly $307B of AUM. The firm, which calls the move in the stock an “overreaction,” keeps a Strong Buy rating on the shares.