Owl Rock Capital Feeder LLC filed a Form 4 with the SEC on September 11, 2026, reporting a distribution of 1,010,000 Class D shares of Blue Owl Capital Inc. and an equal number of Blue Owl Operating Group Units to certain Owl Rock Principals for no consideration.

Key Highlights

  • Transaction date: September 11, 2026, with transaction code "J" (other acquisition or disposition).
  • Securities distributed: 1,010,000 Class D shares and an equal number of Blue Owl Operating Group Units disposed of by Owl Rock Capital Feeder LLC for no consideration.
  • Post-transaction ownership: Owl Rock Capital Feeder LLC indirectly beneficially owns 169,874,846 Class D shares and an equal number of Blue Owl Operating Group Units following the reported transaction.
  • Recipients: The distribution was made to certain Owl Rock Principals, defined as Douglas Ostrover, Marc Lipschultz, Alan Kirshenbaum, and Craig Packer, their respective spouses, and vehicles controlled by them, as well as certain non-controlled vehicles associated with the Owl Rock Principals.
  • Exchange feature: Each Blue Owl Operating Group Unit, upon cancellation of an equal number of Class D shares, may be exchanged for an equal number of newly issued Class B shares or, at the election of an exchange committee, a cash payment equal to the five-day volume weighted average price of the issuer's Class A common stock prior to the exchange date.
  • Filing parties: Both Owl Rock Capital Feeder LLC and Owl Rock Capital Partners LP are named reporting persons, each located at 399 Park Avenue, 37th Floor, New York, New York 10022.

Blue Owl Capital Feeder LLC Distributes Class D Shares and Operating Units to Owl Rock Principals

According to the filing, Owl Rock Capital Feeder LLC reported a disposition of 1,010,000 Class D shares of Blue Owl Capital Inc. (NYSE:OWL) and an equal number of common units of Blue Owl Capital Holdings LP, a Delaware limited partnership, on September 11, 2026. The filing characterizes the transaction as "a distribution by Owl Rock Capital Feeder LLC to certain Owl Rock Principals for no consideration." The transaction is coded "J," indicating an other acquisition or disposition not falling under standard purchase or sale codes.

The filing discloses that following the reported transaction, Owl Rock Capital Feeder LLC indirectly holds 169,874,846 Class D shares and an equal number of Blue Owl Operating Group Units on behalf of the Owl Rock Principals and certain non-controlled entities associated with them. Owl Rock Capital Partners LP serves as the managing member of Owl Rock Capital Feeder LLC and is itself managed by its general partner, Owl Rock Capital Partners GP, which is governed by an executive committee comprised of Douglas Ostrover, Marc Lipschultz, and Craig Packer, with certain decisions requiring the vote of Mr. Ostrover.

The filing notes that Douglas Ostrover is a director of Blue Owl Capital Inc. and indirectly controls both Owl Rock Capital Feeder LLC and Owl Rock Capital Partners LP, and that on the basis of these relationships, each of those entities "may be subject to Section 16 of the 1934 Act as if it were a director of the Issuer." Each of the Owl Rock Principals expressly disclaims beneficial ownership of the reported securities except to the extent of their respective pecuniary interests. The Blue Owl Operating Group Units do not expire, according to the filing.

What Was Disclosed

Owl Rock Capital Feeder LLC disclosed a no-consideration distribution of 1,010,000 Class D shares and an equal number of Blue Owl Operating Group Units to Owl Rock Principals on September 11, 2026, leaving the entity with indirect beneficial ownership of 169,874,846 Class D shares.