Shares in Blue Owl Capital tumbled below their listing price amid a sell-off for private capital groups triggered by investor redemptions and fears over their exposure to software companies that are vulnerable to AI disruption.
Blue Owl’s shares fell as much as 9 per cent to $9.73 on Tuesday — pulling them below the $10 at which they were priced when the asset manager went public in 2021 through a Spac deal — before recovering somewhat. The shares are down about 50 per cent over the past 12 months.
The accelerating drop for Blue Owl underscores mounting investor concerns about private capital companies, which have lent heavily to groups whose businesses are exposed to advances in AI.