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00:02Blue Owl reported higher second quarter adjusted distributable earnings
00:06as assets under management climbed 12% year-over-year to $319 billion, according to Reuters.
00:13The alternative asset manager is seeking to move past the private credit turmoil from earlier this year
00:18by emphasizing its investments beyond direct lending and its reduced reliance on any single asset class.
00:25Adjusted distributable earnings rose to $0.22 per share from $0.21 a year earlier,
00:30while fee-related earnings increased to $0.25 per adjusted share from $0.23.
00:35Blue Owl's second quarter growth was driven by strong investment performance and diversification
00:39across strategies, platforms, and geographies.
00:42New capital commitments fell to $7.8 billion from $13.9 billion a year earlier,
00:49while private wealth inflows declined to $1.7 billion from $4.4 billion,
00:54shares were down about 1% in pre-market trading.
00:57For all things money, visit Benzinga.com.
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