Cox Capital Offers $90M for BDC Shares at 26% Discount Amid Private Credit Chill
OWL sits 47% above its 52-week low of $7.95 on light trading volume (0.4× avg).
Summary
Cox Capital Partners is offering up to $90 million for shares and assets of five BDCs, including vehicles managed by Blue Owl and Ares, at an average 26% discount to NAV. The offer closes Monday and targets liquidity-hungry investors stuck behind 5% quarterly redemption caps. This follows Blue Owl's July disclosure of maintaining withdrawal limits on two private credit funds and a February tender that drew less than 1% participation. The steep discount reflects persistent software-debt concerns and rising nonaccrual rates across the BDC sector. Watch whether Blue Owl or Ares funds see meaningful tender uptake, which would signal investor capitulation.
At the time of this announcement, OWL was trading at $11.68 on NYSE in the Finance sector, with a market capitalization of approximately $18.2B. The 52-week trading range was $7.95 to $19.29. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.