Blue Owl's second quarter distributable EPS beat estimates while assets under management grew 12% to $319 billion.

Blue Owl reported second quarter 2026 distributable earnings of $0.22 per share on fee-related revenues of $693.6 million. Total assets under management grew 12% year-over-year to $319.0 billion, driven by fundraising across its platforms.

Key Highlights

• Fee-Related Earnings (FRE) increased 9% year-over-year to $392.2 million, resulting in an FRE margin of 58.5% that met guidance.
• Assets Under Management (AUM) reached $319.0 billion, a 12% increase from the prior year, with permanent capital growing 10% to $225.0 billion.
• The company raised $7.8 billion in new capital commitments during the quarter and noted $31.1 billion in AUM not yet paying fees, which is expected to generate approximately $380 million in future annual management fees.