Clients
Blue Owl Real Estate Capital serves 91 clients, 68 of them pooled investment vehicles. The average client has about $746 million with the firm.
- Pooled investment vehicles68 clients85%
- State or municipal government entities3 clients3%
- Sovereign wealth funds and foreign official institutions9 clients10%
- OtherInsurance companies, Corporations and other businesses, Other2%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Pooled investment vehicles | 68 | $57,443,829,888 | 84.6% | $844.8M |
| State or municipal government entities | 3 | $2,020,854,213 | 3.0% | $673.6M |
| Insurance companies | 5 | $764,581,699 | 1.1% | $152.9M |
| Sovereign wealth funds and foreign official institutions | 9 | $6,957,429,203 | 10.2% | $773.0M |
| Corporations and other businesses | 1 | $50,000,000 | 0.1% | $50.0M |
| Other | 5 | $644,303,715 | 0.9% | $128.9M |
| Total | 91 | $67,880,998,718 | 100% | $745.9M |
- Clients
- 68
- Regulatory AUM
- $57,443,829,888
- Share
- 84.6%
- Avg. per client
- $844.8M
- Clients
- 3
- Regulatory AUM
- $2,020,854,213
- Share
- 3.0%
- Avg. per client
- $673.6M
- Clients
- 5
- Regulatory AUM
- $764,581,699
- Share
- 1.1%
- Avg. per client
- $152.9M
- Clients
- 9
- Regulatory AUM
- $6,957,429,203
- Share
- 10.2%
- Avg. per client
- $773.0M
- Clients
- 1
- Regulatory AUM
- $50,000,000
- Share
- 0.1%
- Avg. per client
- $50.0M
- Clients
- 5
- Regulatory AUM
- $644,303,715
- Share
- 0.9%
- Avg. per client
- $128.9M
Total
- Clients
- 91
- Regulatory AUM
- $67,880,998,718
- Share
- 100%
- Avg. per client
- $745.9M
What it does
Blue Owl Real Estate Capital provides portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets, performance-based fees and other arrangements.
Blue Owl Real Estate Capital advises 54 private funds.
94.7% of assets ($64.30B across 83 accounts) are managed with discretion; $3.58B across 8 accounts are not. 25% of clients are outside the U.S., and 1 clients received advice without assets under management last fiscal year.
What the accounts hold
- Funds1%
- Other99%
- Commercial real estate loans, commercial mortgage backed securities, retained securities from securitizations99%
Custodians
Blue Owl Real Estate Capital’s client accounts are held mainly at Northern Trust, with 9% of managed assets, and State Street Bank and Trust, with 4%. Blue Owl Real Estate Capital has custody of $45.93B for 67 clients.
- Northern TrustNorthern Trust Corporation · Chicago, IL · $6.33B9%
- U.S Bank National AssociationU.S Bank National Association · Denver, CO · $1.04B2%
- State Street Bank and TrustState Street Bank and Trust Company · Boston, MA · $2.57B4%
- All other custodians$57.94B85%
Ownership and leadership
Blue Owl Real Estate Holdings LP owns 75% or more of Blue Owl Real Estate Capital.
- Owns 75% or more of Blue Owl Real Estate Capital LLC
Blue Owl Real Estate Holdings LP
Control person · since December 2021
- Owns 75% or more of Blue Owl Real Estate Holdings LP
Blue Owl Capital Holdings LP
Control person · since October 2021
Blue Owl Capital GP LLC
General partner · Control person · since October 2021
- Owns 75% or more of Blue Owl Capital GP LLC
Blue Owl Capital GP Holdings LLC
Control person · since November 2021
- Owns 75% or more of Blue Owl Capital GP Holdings LLC
Blue Owl Capital Inc.
Control person · since November 2021
Leadership
- Marc ZahrPresident
- Alan KirshenbaumChief Financial Officer
- Andrew PollandChief Operating Officer
- Karen HagerChief Compliance Officer
- Neena ReddyChief Legal Officer
Staff
- 130 employees
- 130 in advisory functions
- 3 broker-dealer reps
Fees
Blue Owl Real Estate Capital is paid through a percentage of assets under management, performance-based fees and other.
Blue Owl Real Estate Capital’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Blue Owl Real Estate Capital has 9 offices, with 7 listed addresses across 6 states.
New York · 2 listed addresses
- 375 Park Avenue, New York
- 2 Overhill Road, Scarsdale
California · 1 listed address
- 1 Embarcadero Center, San Francisco
District of Columbia · 1 listed address
- 1701 Rhode Island Avenue NW, Washington
Illinois · 1 listed address
- 150 N Riverside Plaza, ChicagoHQ
New Jersey · 1 listed address
- 51 John F. Kennedy Parkway, Short Hills
Texas · 1 listed address
- 300 Crescent Court, Dallas
Registration details
- Legal name
- Blue Owl Real Estate Capital LLC
- Headquarters
- 150 N Riverside Plaza, Chicago, IL 60606
- Phone
- 212-419-3000
- Website
- www.blueowl.com
- SEC file
- 801-77141
- Structure
- Illinois LLC
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Blue Owl Real Estate Capital have?
Blue Owl Real Estate Capital has 91 clients and manages $67.9 billion for them, as of May 2026. They include 68 pooled investment vehicles, 9 sovereign wealth funds and foreign official institutions and 5 insurance companies.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 22 May 2026
What services does Blue Owl Real Estate Capital offer?
Blue Owl Real Estate Capital provides portfolio management for pooled vehicles and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Blue Owl Real Estate Capital use?
Blue Owl Real Estate Capital’s separately managed account assets are held at Northern Trust Corporation (Chicago, IL), with $6,333,198,000, State Street Bank and Trust Company (Boston, MA), with $2,570,854,000 and U.S Bank National Association (Denver, CO), with $1,037,613,000. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 22 May 2026
How many financial advisors does Blue Owl Real Estate Capital have?
Blue Owl Real Estate Capital has 0 investment adviser representatives registered with state securities authorities, out of 130 employees, and 130 perform investment advisory functions. 3 are registered representatives of a broker-dealer and 0 are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Blue Owl Real Estate Capital invest in?
At the end of its last fiscal year, Blue Owl Real Estate Capital’s separately managed accounts held 99% commercial real estate loans, commercial mortgage backed securities, retained securities from securitizations and 1% pooled vehicles (private funds and similar). It advises 54 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Blue Owl Real Estate Capital?
Blue Owl Real Estate Capital is owned through a chain of holding companies by Blue Owl Capital Inc. and Blue Owl Capital Holdings LP. Its direct owner is Blue Owl Real Estate Holdings LP (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 22 May 2026
How does Blue Owl Real Estate Capital get paid?
Blue Owl Real Estate Capital is paid through a percentage of assets under management, performance-based fees and other arrangements. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file