Blue Owl Capital's flagship private credit arm raised $1.8bn in Q2, its slowest pace in three years and less than half the previous quarter. The New York-headquartered firm attributed the decline to a deluge of redemption requests from wealthy individuals weighing on the division.

Overall fundraising reached $7.6bn, the lowest level in over a year though slightly ahead of expectations. Real-assets strategies, investing in AI data centres and property credit, drove nearly 60% of inflows, raising $4.4bn and now representing over a quarter of the firm's $319bn assets under management.

Management fees rose 8% year-over-year to $673mn, while fee-related earnings increased 9% to $392mn, both exceeding Wall Street forecasts. Co-chief executives Doug Ostrover and Marc Lipschultz emphasized the resilience of their diversified business model.