Blue Owl Real Estate Capital Llc
- Regulatory AUM
- $67.9B
- Discretionary
- $64.3B
- Clients
- 91
- Avg AUM / client
- $746M
- Accounts
- 91
- Employees
- 130
AUM over time
Annual snapshots from Form ADV filings · as of May 22, 2026
Asset allocation (SMA assets by investment type)
as of May 22, 2026Share of SMA assets by investment vehicle type, as filed in Form ADV Item 5.K. Dollar figures are percentages applied to total regulatory AUM.
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 68 | $57.4B | 84.6% |
| State or municipal government entities | 3 | $2.0B | 2.98% |
| Insurance companies | 5 | $765M | 1.13% |
| Sovereign wealth funds and foreign official institutions | 9 | $7.0B | 10.2% |
| Corporations and other businesses | 1 | $50.0M | 0.07% |
| Other | 5 | $644M | 0.95% |
Private funds (14)
Reported in Form ADV Section 7.B.(1), filing of Dec 2024 · $5.2B combined gross assets
People (7)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Zahr, Marc, Nmn | Co President | Sep 2011 (15y) | Less than 5% | |
| Hager, Karen, Nmn | Chief Compliance Officer | Dec 2021 (5y) | Less than 5% | |
| Kirshenbaum, Alan, Jay | Chief Financial Officer | Dec 2021 (5y) | Less than 5% | |
| Ostrover, Douglas, Irving | Co Chief Executive Officer | Dec 2021 (5y) | Less than 5% | |
| Polland, Andrew, Robert | Chief Operating Officer | Dec 2021 (5y) | Less than 5% | |
| Reddy, Neena, Ann | Chief Legal Officer | Dec 2021 (5y) | Less than 5% | |
| Lipschultz, Marc, Steven | Co Chief Executive Officer | May 2023 (3y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Blue Owl Real Estate Holdings Lp | Member | Dec 2021 | A | 75% or more |
| Blue Owl Capital Gp Holdings Llc | Member | Nov 2021 | B | 75% or more of Blue Owl Capital Gp Llc (indirect) |
| Blue Owl Capital Inc. | Member | Nov 2021 | B | 75% or more of Blue Owl Capital Gp Holdings Llc (indirect) |
| Blue Owl Capital Holdings Lp | Limited Partner | Oct 2021 | B | ≈ 56.25% – 100% via Blue Owl Real Estate Holdings Lp |
| Nbsh Blue Investments, Llc | Limited Partner | May 2021 | B | ≈ 14.06% – 50% via Blue Owl Capital Holdings Lp |
| Blue Owl Capital Gp Llc | General Partner | Oct 2021 | B | GP / trustee / elected manager of Blue Owl Real Estate Holdings Lp (indirect) |
| Nbsh Acquisition, Llc | Member | May 2009 | B | GP / trustee / elected manager of Nbsh Blue Investments, Llc (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Blue Owl Capital Holdings Lp: 75% – 100% of Blue Owl Real Estate Holdings Lp × 75% – 100% direct ≈ 56.25% – 100% of the firm
- Nbsh Blue Investments, Llc: 25% – 50% of Blue Owl Capital Holdings Lp × 75% – 100% of Blue Owl Real Estate Holdings Lp × 75% – 100% direct ≈ 14.06% – 50% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (14, $5.2B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Oak Street Investment Grade Net Lease Fund, Lp | Hedge Fund | $2.7B | $0 | 1 |
| Blue Owl Real Estate Fund Vi Lp | Hedge Fund | $1.1B | $5.0M | 1,293 |
| Blue Owl Real Estate Net Lease Property Fund (A) Lp | Hedge Fund | $675M | $0 | 338 |
| Blue Owl Real Estate Maritime Opportunity Fund Lp | Hedge Fund | $330M | $0 | 7 |
| Blue Owl Real Estate Fund V (A) Lp | Hedge Fund | $270M | $0 | 56 |
| Blue Owl Nl Opportunity Credit Investors A Lp | Hedge Fund | $69.8M | $0 | 61 |
| Blue Owl Real Estate Fund Vi (A) Lp | Hedge Fund | $28.0M | $5.0M | 44 |
| Blue Owl Real Estate Net Lease Idf Ii Lp | Hedge Fund | $18.6M | $0 | 1 |
| Blue Owl Real Estate Net Lease Idf I Lp | Hedge Fund | $18.6M | $0 | 1 |
| Blue Owl Real Estate Net Lease Idf Iii Lp | Hedge Fund | $17.2M | $0 | 1 |
| Blue Owl Nl Opportunity Credit Fund B Llc | Hedge Fund | $15.5M | $0 | 2 |
| Blue Owl Nl Opportunity Credit Investors C Lp | Hedge Fund | $12.3M | $0 | 87 |
| Blue Owl Real Estate Fund Iii Lp | Hedge Fund | $1.5M | $30.0K | 76 |
| Blue Owl Real Estate Fund Vi (B) Lp | Hedge Fund | $0 | $5.0M | 0 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 05/22/2026 | 17.1 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
- • Other fees
- • MORTGAGE LOAN ORIGINATION FEES
Services
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- Northern Trust $6.3B (9% of AUM) May 2026
- State Street $2.6B (4% of AUM) May 2026
- U.S. Bank $1.0B (2% of AUM) May 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: May 22, 2026.
View current Form ADV (SEC/IAPD) ↗