Blue Owl Capital reported first-quarter distributable earnings of $292.5 million, an 11% increase that surpassed analyst expectations.
Total assets under management grew 15% year-over-year to $314.9 billion.
Strong fundraising in real assets and GP strategic capital offset a slowdown in the flagship private credit unit.
The firm limited April withdrawals for two direct lending funds following a surge in redemption requests.
Blue Owl raised $11 billion in new capital during the quarter.
Management attributed the redemption activity to market headlines rather than fund fundamentals.