Blue Owl Capital (NYSE:OWL) Q2 2024 Earnings Conference Call August 1, 2024 10:00 AM ET

Company Participants

Ann Dai - Investor Relations
Marc Lipschultz - Co-Chief Executive Officer
Alan Kirshenbaum - Chief Financial Officer

Conference Call Participants

John Rodis - Janney Montgomery Scott LLC
Ross Haberman - RLH Investments

Operator

Good morning, and welcome to Blue Owl Capital Second Quarter 2024 Earnings Call. During the presentation, the lines will be in listen-only. I would like to advise the participants, this conference is being recorded.

I will now turn the call over to Ann Dai, Head of Investor Relations for Blue Owl.

Ann Dai

Thanks, operator, and good morning to everyone. Joining me today are Marc Lipschultz, Co-Chief Executive Officer; 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-looking 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 statement.

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 an interest in any Blue Owl fund.

This morning, we issued our financial results for the second quarter of 2024 recording fee-related earnings or FRE of $0.21 per share and distributable earnings or DE of $0.19 per share. We also declared a dividend of $0.18 per share for the second quarter payable on August 30 to holders of record as of August 21.

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.

With that, I'd like to turn the call over to Marc.

Marc Lipschultz

Great. Thank you very much, Ann. Blue Owl had a very active second quarter reporting another record quarter of earnings and announcing highly strategic acquisitions that further diversify our business. Over the last 12 months, we have generated 23% fee-related earnings growth and 19% distributable earnings growth from the prior year period. And since becoming a public company, we have had 13 consecutive quarters of management fee and FRE growth, highlighting both the stability and strength of our business.