Blue Owl Capital Inc. (OTCPK:SBKJY) Q4 2022 Earnings Conference Call February 13, 2023 8:30 AM ET

Company Participants

Ann Dai - Head of Investor Relations

Doug Ostrover - Chief Executive Officer

Marc Lipschultz - Co-President

Michael Rees - Co-President

Alan Kirshenbaum - Chief Financial Officer

Conference Call Participants

Alex Blostein - Goldman Sachs

Glenn Schorr - Evercore ISI

Patrick Davitt - Autonomous Research

Brian McKenna - JMP Securities

Adam Beatty - UBS

Ken Worthington - JPMorgan

Brian Bedell - Deutsche Bank

Mike Brown - KBW

Chris Kotowski - Oppenheimer

Operator

Good morning. My name is Chris, and I will be your conference operator today. At this time, I would like to welcome you to the Blue Owl Q4 2022 Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will a question-and-answer session. [Operator Instructions]

Thank you. Ann Dai, Head of Investor Relations. You may begin.

Ann Dai

Thanks, operator, and good morning to everyone. Joining me today are Doug Ostrover, our Chief Executive Officer; Marc Lipschultz and Michael Rees, our Co-Presidents; and Alan Kirshenbaum, our Chief Financial Officer.

I'd like to remind our listeners that remarks made during the call may contain forward-looking statements, which are not a guarantee of future performance or results, and involve a number of risks and uncertainties that are outside the company's control. Actual results may differ materially from those in forward-statements as a result of a number of factors, including those described from time-to-time in Blue Owl Capital's filings with the Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statements. We'd also like to remind everyone that we'll refer to non-GAAP measures on the call, which are reconciled to GAAP figures in our earnings presentation available on the Investor Resources section of our website at blueowl.com.

Please note that nothing on this call constitutes an offer to sell or a solicitation of an offer to purchase any interest in any Blue Owl fund. This morning, we issued our financial results for the fourth quarter and full-year of 2022, for the fourth quarter we reported Fee-Related Earnings, or FRE, of $0.16 per share, and distributable earnings, or DE, of $0.15 per share, bringing total FRE to $0.57 per share and full-year DE of $0.53 per share. We declared a dividend of $0.13 per share for the first quarter payable on March 6 to shareholders of record as of February 24 and also announced a fixed dividend of $0.56 for 2023 or $0.14 per quarter starting with our first quarter 2023 earnings. During the call today, we'll be referring to the earnings presentation, which we posted to our website this morning. So, please have that on hand to follow along.