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Blue Owl Technology Finance Corp. is an externally managed BDC and RIC that focuses on lending to U.S.-based technology-related companies, primarily enterprise software. The company listed on the NYSE on June 12, 2025 under the symbol OTF. As of June 30, 2025 the portfolio had an aggregate fair value of $12.7 billion across 184 portfolio companies, comprised of 78.0% first-lien senior secured debt, 3.4% second-lien, 3.5% unsecured debt, 8.0% preferred equity and 7.0% common equity. Weighted average total portfolio yield was 9.6% (fair value) and weighted average yield on debt was 10.4%. Total debt outstanding was approximately $4.8 billion with average borrowings of $5.2 billion for the period and an assumed weighted average debt rate of 6.1%. Asset coverage was 264% and net leverage 0.58x. The Adviser is Blue Owl Technology Credit Advisors LLC; management fees increased post-listing to a two-tiered schedule (1.50% above 200% asset coverage, 1.00% below). The Board approved an $200 million share repurchase program and declared a $0.35 third-quarter dividend.
Mubadala Investment Company PJSC and affiliated entities reported beneficial ownership of 29,130,491 shares of Blue Owl Technology Finance Corp. common stock, representing approximately 6.3% of the outstanding shares based on 465,126,583 shares outstanding. The position is held through a group structure: MIC Capital Management 93 RSC Ltd directly holds 27,673,966 shares and Fifteenth Investment Company LLC directly holds 1,456,525 shares, with 93 RSC and related subsidiaries linking up to Mubadala.
The reporting persons indicate they have no sole voting or dispositive power over the shares and instead report shared voting and dispositive power for the stated share amounts. The filing includes a certification that the holdings were not acquired to change or influence control of the issuer.
Blue Owl Technology Finance Corp. entered into a Tripartite Agreement that replaces the retiring trustee with Deutsche Bank Trust Company Americas as successor trustee under the Indenture framework. The agreement transfers the retiring trustee's rights, powers, trusts and duties under the Base Indenture dated June 12, 2020 and the Second, Third, Fourth and Fifth Supplemental Indentures (dated September 23, 2020; December 17, 2020; June 14, 2021; and January 21, 2025, respectively), and the Successor Trustee accepts those roles including trustee, security registrar, paying agent, authenticating agent and depositary custodian.
Notably, the Successor Trustee's appointment as paying agent and security registrar is delayed until ten business days after the Tripartite Agreement's effective date. The full Tripartite Agreement is filed as Exhibit 4.1 to the report.
Blue Owl Technology Finance (NYSE:OTF) filed a Form 8-K reporting the results of its 26 June 2025 Annual Meeting.
Key results:
- Director elections: Edward D'Alelio and Craig W. Packer were re-elected with roughly 168.3 M votes For and only 0.25 M Against each (鈮�99.8% support).
- Auditor ratification: KPMG LLP was approved for fiscal 2025 with 234.3 M For (99.1%) versus 1.17 M Against.
No other proposals were presented and the filing discloses no strategic, financial or operational changes.