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 US$2.9 billion in total capital commitments, surpassing its initial US$2.5 billion target.

ASOF IX is a diversified, asset-backed opportunistic credit fund with a flexible investment mandate, enabling it to deploy capital across different market environments. The strategy underscores Blue Owl’s ongoing focus on asset-based finance within private credit, aiming to provide downside protection while capturing potential upside through thoughtfully structured investments. The fund is overseen by Blue Owl’s Alternative Credit team, backed by an experienced group of investment professionals with deep expertise across multiple market cycles.

Blue Owl’s Co-CEOs, Doug Ostrover and Marc Lipschultz, pointed to the firm’s capabilities in sourcing, underwriting, and scaling transactions, noting that its platform is well-positioned to deliver differentiated results in asset-backed finance. Meanwhile, Craig Packer, Co-President and Head of Credit, highlighted that strong investor demand underscores the increasing importance of asset-based finance and broader structural shifts within private credit markets. Ivan Zinn, Head of Alternative Credit, added that the strategy offers diversification compared to traditional corporate direct lending, while seeking to deliver stable performance across market cycles. ASOF IX will continue supporting companies during periods of market disruption through a mix of debt, equity, and hybrid investment structures. Blue Owl currently oversees more than US$307 billion in assets across its investment platforms.