Blue Owl Capital, an investor across credit, real assets, and GP strategic capital has completed the final close of its Asset Special Opportunities Fund IX (ASOF IX), raising approximately $2.9bn in total capital commitments, surpassing its initial $2.5bn target.
ASOF IX is a diversified, asset-backed opportunistic credit fund designed with a flexible mandate that allows capital deployment across varying market conditions. The strategy reflects Blue Owl’s continued emphasis on asset-based finance as a key area of private credit, providing downside protection while offering the potential for upside through carefully structured investments.
The fund is managed by Blue Owl’s Alternative Credit team, supported by a seasoned group of investment professionals with extensive experience across market cycles. According to the firm, ASOF IX will focus on disciplined deployment, sourcing complex transactions, and generating risk-adjusted returns for investors.
Blue Owl’s Co-CEOs, Doug Ostrover and Marc Lipschultz, highlighted the firm’s strengths in sourcing, underwriting, and scaling transactions, citing the platform’s ability to deliver differentiated outcomes in asset-backed finance, while Craig Packer, Co-President and Head of Credit, emphasised that strong investor support reflects both the growing role of asset-based finance and broader structural shifts across private credit markets.
Ivan Zinn, Head of Alternative Credit, noted that the strategy provides diversification relative to corporate direct lending while aiming to deliver consistent performance across cycles. ASOF IX will continue to back companies through market dislocations, using a combination of debt, equity, and hybrid instruments.
Blue Owl manages over $307bn in assets across its investment platforms.
