All data as of May 31, 2026 unless otherwise noted. Past performance is not a guarantee of future results.
Endnotes
1. Blue Owl Alternative Credit was ranked by Private Debt Investor as the “2024 Specialty Finance Lender of the Year, Americas”. Private Debt Investor ("PDI") is an independent organisation that is not affiliated with Blue Owl Alternative Credit (fka Atalaya Capital Management). PDI's selection process involved an initial fee-free application where managers were nominated for award categories and subsequently subject to an online reader poll that prompts readers to vote for a particular firm in one or more of multiple enumerated categories, including Lender of the Year. The nomination criteria are inherently subjective and account for a mixture of qualitative and quantitative criteria, including non-financial considerations. Blue Owl Alternative Credit has provided compensation to Private Debt Investor in connection with sponsorship in other publications but not in connection with the consideration for or receipt of these awards. Award recipients were announced by PDI in March of 2025. Blue Owl Alternative Credit is unaware of any factor that could call into question the validity of its selection as PDI's 2024 Lender of the Year, and the award is not indication of Blue Owl Alternative Credit’s future performance. There can be no assurance that another organisation or different sampling process would achieve similar results.
2. TAM is defined as Total Addressable Market. Asset-based finance TAM, growth of private ABF, and the 2030E estimate reflects market sizing developed by Blue Owl, based on assumptions derived by third-party sources, including Federal Reserve Z.1 Financial Accounts of the United States Q3 2025, FRB NY Quarterly Report on Household Debt and Credit November 2025, SIFMA statistics Q3 2025, Secured Finance Foundation 2024, Global Litigation Funding Investment Market Analysis and Forecast, Secured Finance Market Sizing and Impact Study, 2024 Equipment Leasing & Finance Industry Horizon Report, CFPB Fact Sheet January, 2025, Preqin Private Debt 2025 data, Global Market Insights – Aircraft Leasing Market Size & Share 2025, Ginnie Mae Global Markets Analysis Report December 2025, PRNewswire Railcar Report, imarc Group Shipping Container Market Report 2025. Assumptions of the underlying include reported and/or estimated growth rates and product trends derived from the cited industry sources. Actual outcomes may vary materially.
3. CIML has discretion to accept lower amounts.
4. The Alternative Credit platform’s inception date is March 2006 with the foundation of Atalaya Capital Management LLC ("Atalaya"). Atalaya was acquired by Blue Owl in September 2024.
5. The Fund’s ability to pay a distribution is contingent on the income it receives from its investment in the Underlying Fund and may mean that there is no distribution for a period. The Fund, as a shareholder of Underlying Fund, is allocated distributing shares, where it is the intention of the Underlying Fund to issue cash distributions with respect to such shares on a monthly basis. There is no guarantee that the Underlying Fund will make distributions, and any distributions will be made at the discretion of the Underlying Fund, taking into consideration such factors as it deems appropriate, including earnings, cash flow, capital needs and general financial condition and the requirements of any applicable laws. As a result, the Underlying Fund’s distribution rates and payment frequency are expected to vary from month-to-month. Furthermore, the Fund may use distributions received from the Underlying Fund to cover losses incurred in the Fund’s FX hedging program or to increase hedging reserve balances. Therefore, there can be no guarantee that any distributions will be made in respect of any given month.
6. The returns stated are based on the month-end unit prices expressed in AUD. Net return of the Fund has been calculated after the deduction of management fees and operating costs. Please note that these figures do not factor in the potential tax obligations at an individual investor level. This is historical performance data. The value of an investment can rise and fall and past performance is not indicative of future performance. Investors are reminded to seek independent financial advice before making investment decisions based on this performance data.
7. "Total Investments" include all transactions, which can be defined as multiple transactions, or "investments", with the same counterparty and underlying assets.
Important information
This information has been prepared for use only by wholesale clients (as defined under the Corporations Act 2001 (Cth)) and is issued by Channel Investment Management Limited ACN 163 234 240 AFSL 439007 (‘CIML’).
CIML is the responsible entity for the Blue Owl Alternative Credit Fund AUT ARSN 691 541 474 (‘OWLCX-A’). Neither CIML, Blue Owl Alternative Credit Advisors II LLC (‘Blue Owl’), nor any of their respective related entities, associates, officers, employees or agents make any representations or warranties, express or implied as to the accuracy, reliability or completeness of the information contained on this website and nothing contained on this website is or shall be relied upon as a promise or representation, whether as to the past or the future. Past performance is not indicative of future performance. This information is given in summary form and does not purport to be complete. Information on this website should not be considered advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling units in the OWLCX-A and does not take into account an investor’s particular investment objectives, financial situation or needs. Before acting on any information investors should consider the appropriateness of the information having regard to these matters, any relevant product disclosure statement (‘PDS’) and in particular, they should seek independent financial advice. For further information and before investing, please read the PDS and target market determination (‘TMD’) available on this website.
Any interests expressed is taken as an indicative intention only and is not binding on the investor, CIML or Blue Owl.
Views and opinions expressed are for informational purposes only and do not constitute a recommendation by CIML, Blue Owl or any related entity of Blue Owl to buy, sell, or hold any security. Views and opinions are current as of publishing and may be subject to change, they should not be construed as investment advice. This material on OWLCX-A and OWLCX is provided for educational purposes, in the context of the distribution of the OWLCX-A only and should not be construed as investment advice or an offer or solicitation to participate in OWLCX-A or OWLCX.
Blue Owl Alternative Credit Advisors II LLC is a representative of Blue Owl Technology Credit Advisors LLC. Blue Owl Technology Credit Advisors LLC has obtained exemptive relief from the requirement to hold an Australian financial services licence under the Corporations Act in respect of financial services it may provide to Wholesale Clients in Australia, including advice and dealings in relation OWLCX-A, and is a body regulated by the U.S. Securities and Exchange Commission (‘SEC’) under U.S. laws, which differ from Australian laws.
OWLCX Risk Factors
Assets Under Management ("AUM") refers to the managed assets and is generally equal to the sum of (i) net asset value ("NAV"); (ii) drawn and undrawn debt; (iii) uncalled capital commitments; (iv) total managed assets for certain Credit and Real Assets products; and (v) par value of collateral for collateralised loan obligations ("CLOs") and other securitisations.
The material is issued by CIML and includes proprietary information regarding Blue Owl Capital Inc. ("Blue Owl Capital"), its affiliates and investment programme, funds sponsored by Blue Owl Capital as well as investments held by funds sponsored by Blue Owl Capital.
An investment in OWLCX or other investment vehicle entails a high degree of risk. Prospective investors should consider all of the risk factors set forth in the "Risk Factors and Special Considerations" and "Conflicts of Interest" sections of the prospectus, each of which could have an adverse effect on OWLCX or other investment vehicle and on the value of Interests.
An investment in OWLCX or other investment vehicle is suitable only for sophisticated investors and requires the financial ability and willingness to accept the high risks and lack of liquidity associated with an investment in OWLCX or other investment vehicle. Investors in OWLCX or other investment vehicle must be prepared to bear such risks for an indefinite period of time. There will be restrictions on transferring interests in OWLCX or other investment vehicle, and the investment performance of OWLCX or other investment vehicle may be volatile. Investors must be prepared to hold their interests in OWLCX or other investment vehicle until its dissolution and should have the financial ability and willingness to accept the risk characteristics of OWLCX’s or other investment vehicle’s investments.
There can be no assurances or guarantees that OWLCX’s or other investment vehicles investment objectives will be realised, that OWLCX’s or other investment vehicle investment strategy will prove successful or that investors will not lose all or a portion of their investment in OWLCX.
Furthermore, investors should not construe the performance of any predecessor funds or other investment vehicle as providing any assurances or predictive value regarding future performance of OWLCX.
The views expressed and, except as otherwise indicated, the information provided is subject to change, update, revision, verification, and amendment, materially or otherwise, without notice, as market or other conditions change. Since these conditions can change frequently, there can be no assurance that the trends described herein will continue or that any forecasts are accurate. In addition, certain of the statements contained in this material may be statements of future expectations and other forward-looking statements that are based on the current views and assumptions of CIML and involve known and unknown risks and uncertainties (including those discussed below) that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements. These statements may be forward-looking by reason of context or identified by words such as "may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential or continue" and other similar expressions. Neither CIML, Blue Owl, nor any of their respective related entities, associates, officers, employees or agents or any other person (collectively the "Relevant Entities") is under any obligation to update or keep current the information contained in the OWLCX risk factors section.
This material contains information from third party sources which has not been verified. No representation or warranty, express or implied, is given by or on behalf of the Relevant Entities as to the accuracy, fairness, correctness or completeness of the information or opinions contained in this material and no liability whatsoever (in negligence or otherwise) is accepted by the Relevant Entities for any loss howsoever arising, directly or indirectly, from any use of this material or its contents, or otherwise arising in connection therewith.
All investments are subject to risk, including the loss of the principal amount invested. These risks may include limited operating history, uncertain distributions, inconsistent valuation of the portfolio, changing interest rates, leveraging of assets, reliance on the investment adviser, potential conflicts of interest, payment of substantial fees to the investment adviser and the dealer manager, potential illiquidity, and liquidation at more or less than the original amount invested. Diversification will not guarantee profitability or protection against loss. Performance may be volatile, and the NAV may fluctuate.
Performance Information:
Where performance returns have been included in this material, refer to the important information relating to the calculation of these returns as well as other pertinent performance related definitions.
This material is for informational purposes only and is not an offer or a solicitation to sell or subscribe for any fund or other investment vehicle and does not constitute investment, legal, regulatory, business, tax, financial, accounting, or other advice or a recommendation regarding any securities of Blue Owl, of any fund or investment vehicle managed by CIML or any related entity of Blue Owl, or of any other issuer of securities. Only a definitive offering document (i.e.: Prospectus or Private Placement Memorandum or other offering material) can make such an offer. Neither the Securities and Exchange Commission, the Attorney General of the State of New York nor any state securities commission has approved or disapproved of these securities or determined if the Prospectus, Private Placement Memorandum or other offering material is truthful or complete. Any representation to the contrary is a criminal offence. Within the United States and Canada, securities in OWLCX are offered through Blue Owl Securities LLC, member of FINRA/SIPC, as Dealer Manager.
