The "Canary In The Coal Mine" Just Froze: Here Is What Is Really Happening At Blue Owl

Update (2:45pm ET): Blue Owl may have been hoping that the announcement it was selling $1.4 billion in private loans from its three BDCs (OBDCII, OBDC and OTIC) at 99.7 cents while gating retail investors in OBDC II (the firm naturally framed this as providing liquidity, but on its terms) would boost confidence among skittish investors, but the market had a different opinion and OWL stock tumbled to fresh multi-year lows this morning, and was down 4% as of this update.