Credit

Blue Owl Technology Income Corp. (OTIC)

OTIC seeks to provide investors attractive current income with the opportunity for capital appreciation through the origination of debt and equity investments in established U.S. software and technology-related businesses.

NAV $10.45 | Annualized total distrib. rate¹: 9.79%

NAV $10.45 | Annualized total distrib. rate¹: 9.54%

NAV $10.45 | Annualized total distrib. rate¹: 8.95%

Distribution payments are not guaranteed. Blue Owl Technology Income Corp. may pay distributions from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, return of capital or offering proceeds, and advances or the deferral of fees and expense reimbursements. The annualized distribution rate shown is calculated by multiplying the sum of the last three base distributions per share paid and special distribution per share paid by four, and dividing the result by the NAV per share of the month preceding the relevant three month period. Excluding special dividends, the Fund declared an annualized distribution amount of ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌$0.90‌‌‌ per share for Class I, ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​$0.87‌‌‌ per share for Class D, and ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌$0.81‌‌‌ per share for Class S, resulting in annualized distribution rates of ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌8.59%‌‌‌ for Class I shares, ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​​8.33%‌‌‌ for Class D shares, and ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​‌7.72%‌‌‌ for Class S shares based on the last reported NAV. The annualized distribution rate shown may be rounded and is net of applicable servicing fees (Class I: No servicing fee, Class D: 0.25%, Class S: 0.85%). The payment of future distributions is subject to the discretion of OTIC’s board of directors and applicable legal restrictions, therefore there can be no assurance as to the amount or timing of any such future distributions. Distributions are not guaranteed. Up to 100% of distributions have been funded and may continue to be funded by the reimbursement of certain expenses that are subject to repayment to the Adviser of OTIC. Such waivers and reimbursements by the Adviser may not continue in the future. No distributions paid were classified as a return of capital for the quarter ending ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌​March 31, 2023‌‌‌. For further information, please see our SEC filings at www.sec.gov.
Overview & strategy Performance Portfolio Resources Contact Risk factors & important information
Scroll to section:

About OTIC

OTIC is a perpetually non-traded business development company (BDC) that employs a risk-adjusted approach to investing in software and technology-related businesses.

The strategy seeks to generate income and capital appreciation through multiple sources, including:

  • Income from debt securities
  • Income and capital appreciation from growth debt, convertible debt, and preferred equity investments 
  • Potential capital gains via portfolio company liquidity events 

OTIC’s diversified portfolio provides investors with differentiated exposure to private software and technology-focused companies that would otherwise typically be inaccessible to the public.

The download on software and technology investing

Learn more about OTIC’s investment strategy, approach and key terms.

Direct lending

Direct lending is where a single or a small group of non-bank lenders (or direct lenders) provide a financing solution directly to a private company (or borrower) who often seek loans to finance growth opportunities and their day-to-day operations. The direct lender and borrower directly negotiate a customized solution that suits the needs of both parties. These borrowers are typically privately held and/or owned by private equity firms and are looking for a reliable alternative to a bank.

Why OTIC?

OTIC delivers key benefits to investors seeking a differentiated approach to software and technology investing.

Done All Icon Done All Icon

Access

OTIC provides access to private, market-leading software and technology-related companies that are typically inaccessible to the public.

Sync Alt Icon Sync Alt Icon

Differentiated returns

OTIC’s flexible investment strategy combines traditional financings and growth capital investments to maximize total return through current income and the potential for capital appreciation.

Check Circle Icon Check Circle Icon

Seeking risk mitigation

OTIC's risk mitigation strategy focuses on making predominantly senior secured loans with low loan-to-values to high quality, mission-critical software, and technology-related companies. that have inherently defensive characteristics and strong private equity support.

Investing in real estate through a credit-oriented strategy

Blue Owl’s net lease real estate strategy takes a different approach from traditional real estate, one focused on creditworthiness of the underlying tenant, which is purpose built for today’s market environment.

Illustrative Investment Characteristics Traditional Real Estate1 Blue Owl Net Lease IG Fixed Income

Primary investment objective

Capital appreciation
Income

Realize capital appreciation from active investment management and asset management

Capital appreciation
Income

Generate current income and, to a lesser extent, capital appreciation

Capital appreciation
Income

Generate current income

Capital appreciation
Income

Return composition

Capital appreciation
Income
Realize capital appreciation from active investment management and asset management ORENT Chart 2
Capital appreciation
Income
Generate current income and, to a lesser extent, capital appreciation ORENT Chart 3-1
Capital appreciation
Income
Generate current income ORENT Chart 4
Capital appreciation
Income
Cashflow
Capital appreciation
Income
Variable cash flows
Capital appreciation
Income
Long-term contractual cash flows with escalators
Capital appreciation
Income
Contractual cash flows
Capital appreciation
Income
Creditworthy underlying tenant/borrower
Capital appreciation
Income
Sometimes
Capital appreciation
Income
Always2
Capital appreciation
Income
Always
Capital appreciation
Income
Volatility of capital appreciation
Capital appreciation
Income
Higher volatility
Capital appreciation
Income
Lower volatility
Capital appreciation
Income
None
Capital appreciation
Income
Liquidity
Capital appreciation
Income
Less liquid
Capital appreciation
Income
More liquid
Capital appreciation
Income
Liquid
Capital appreciation
Income
Tax-efficiency of income
Capital appreciation
Income
High
Capital appreciation
Income
High
Capital appreciation
Income
Low
Capital appreciation
Income
Headline risks
Capital appreciation
Income
  • New supply
  • Growing expenses
  • Asset selection
  • Geographic selection
Capital appreciation
Income
Tenant credit
Capital appreciation
Income
Bond credit
Capital appreciation
Income

The graphic above seeks to examine for illustrative and educational purposes only similar characteristics of different types of investments solutions. This is not a comparison of like products but rather an illustration of different products with similar characteristics.

1.Based on Blue Owl research on open-end core funds. The terms, investment targets and potential risks of each individual core fund offered by non-Blue Owl sponsors may vary and investors should independently evaluate the risks involved

2.Investment grade companies must have “BBB-” rating or higher by S&P. Creditworthy refers to businesses that Blue Owl deems financially sound enough to justify an extension of credit or engage in a lease agreement. Tenants are creditworthy or investment grade at acquisition.

Performance

OTIC's risk mitigation strategy focuses on making predominantly senior secured loans with low loan-to-values to software and technology-related companies that have inherently defensive characteristics and strong private equity support.

Total net return7

Share Class 1-month 3-month YTD 1-year ITD
Class I 0.81% 3.05% 3.89% 13.05% 11.98%

Historical net asset value per share

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2024 $10.39 $10.40 $10.44 $10.45 - - - - - - - -
2023 $10.17 $10.15 $10.12 $10.15 $10.11 $10.14 $10.21 $10.26 $10.28 $10.21 $10.32 $10.38
2022 - - - - $9.96 $9.81 $10.00 $10.04 $9.93 $9.97 $10.01 $10.02

Historical performance

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2024 0.82% 0.82% 1.39% 0.81% - - - - - - - - 3.89%
2023 2.99% 0.54% 0.44% 1.04% 0.34% 1.04% 1.43% 1.22% 0.92% 0.24% 1.81% 1.50% 14.34%
2022 - - - - 0.06% -0.92% 2.56% 1.05% -0.39% 1.12% 1.15% 0.85% 5.56%

Historical distribution per share

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2024 Distribution $0.0748 $0.0748 $0.0748 $0.0748 $0.0748 - - - - - - -
2024 Special Distribution - - $0.0300 - - - - - - - - -
2023 Distribution $0.0748 $0.0748 $0.0748 $0.0748 $0.0748 $0.0748 $0.0748 $0.0748 $0.0748 $0.0748 $0.0748 $0.0748
2023 Special Distribution $0.0750 - - - - - - - - $0.0200 - $0.0200
2022 Distribution - - - - $0.0458 $0.0581 $0.0613 $0.0646 $0.0711 $0.0711 $0.0748 $0.0748
2022 Special Distribution - - - - - - - - - - - -

Distribution payments are not guaranteed. Blue Owl Technology Income Corp. may pay distributions from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, return of capital or offering proceeds, and advances or the deferral of fees and expense reimbursements. The annualized distribution rate shown is calculated by multiplying the sum of the last three base distributions per share paid and special distribution per share paid by four, and dividing the result by the NAV per share of the month preceding the relevant three month period. Excluding special dividends, the Fund declared an annualized distribution amount of ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌$0.90‌‌‌ per share for Class I, ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​$0.87‌‌‌ per share for Class D, and ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌$0.81‌‌‌ per share for Class S, resulting in annualized distribution rates of ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌8.59%‌‌‌ for Class I shares, ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​​8.33%‌‌‌ for Class D shares, and ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​‌7.72%‌‌‌ for Class S shares based on the last reported NAV. The annualized distribution rate shown may be rounded and is net of applicable servicing fees (Class I: No servicing fee, Class D: 0.25%, Class S: 0.85%). The payment of future distributions is subject to the discretion of OTIC’s board of directors and applicable legal restrictions, therefore there can be no assurance as to the amount or timing of any such future distributions. Distributions are not guaranteed. Up to 100% of distributions have been funded and may continue to be funded by the reimbursement of certain expenses that are subject to repayment to the Adviser of OTIC. Such waivers and reimbursements by the Adviser may not continue in the future. No distributions paid were classified as a return of capital for the quarter ending ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌​December 31, 2023‌‌‌. For further information, please see our SEC filings at www.sec.gov.

Total net return7

Share Class 1-month 3-month YTD 1-Year ITD
Class D (No sales load) 0.79% 2.99% 3.81% 12.77% 11.71%
Class D (Max sales load) -0.70% 1.46% 2.27% 11.10% 10.88%

Historical net asset value per share

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2024 $10.39 $10.40 $10.44 $10.45 - - - - - - - -
2023 $10.17 $10.15 $10.12 $10.15 $10.11 $10.14 $10.21 $10.26 $10.28 $10.21 $10.32 $10.38
2022 - - - - $9.96 $9.81 $10.00 $10.04 $9.93 $9.97 $10.01 $10.02

Historical performance

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2024 0.80% 0.80% 1.37% 0.79% - - - - - - - - 3.81%
2023 2.97% 0.52% 0.42% 1.01% 0.32% 1.02% 1.41% 1.20% 0.90% 0.22% 1.79% 1.48% 14.06%
2022 - - - - 0.04% -0.94% 2.54% 1.02% -0.41% 1.10% 1.13% 0.83% 5.39%

Historical distribution per share

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2024 Distribution $0.0726 $0.0727 $0.0726 $0.0726 $0.0726 - - - - - - -
2024 Special Distribution - - $0.0300 - - - - - - - - -
2023 Distribution $0.0726 $0.0728 $0.0726 $0.0727 $0.0726 $0.0727 $0.0726 $0.0726 $0.0727 $0.0726 $0.0727 $0.0726
2023 Special Distribution $0.0750 - - - - - - - - $0.0200 - $0.0200
2022 Distribution - - - - $0.0438 $0.0561 $0.0592 $0.0625 $0.0691 $0.0690 $0.0727 $0.0726
2022 Special Distribution - - - - - - - - - - - -

Distribution payments are not guaranteed. Blue Owl Technology Income Corp. may pay distributions from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, return of capital or offering proceeds, and advances or the deferral of fees and expense reimbursements. The annualized distribution rate shown is calculated by multiplying the sum of the last three base distributions per share paid and special distribution per share paid by four, and dividing the result by the NAV per share of the month preceding the relevant three month period. Excluding special dividends, the Fund declared an annualized distribution amount of ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌$0.90‌‌‌ per share for Class I, ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​$0.87‌‌‌ per share for Class D, and ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌$0.81‌‌‌ per share for Class S, resulting in annualized distribution rates of ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌8.59%‌‌‌ for Class I shares, ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​​8.33%‌‌‌ for Class D shares, and ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​‌7.72%‌‌‌ for Class S shares based on the last reported NAV. The annualized distribution rate shown may be rounded and is net of applicable servicing fees (Class I: No servicing fee, Class D: 0.25%, Class S: 0.85%). The payment of future distributions is subject to the discretion of OTIC’s board of directors and applicable legal restrictions, therefore there can be no assurance as to the amount or timing of any such future distributions. Distributions are not guaranteed. Up to 100% of distributions have been funded and may continue to be funded by the reimbursement of certain expenses that are subject to repayment to the Adviser of OTIC. Such waivers and reimbursements by the Adviser may not continue in the future. No distributions paid were classified as a return of capital for the quarter ending ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌​December 31, 2023‌‌‌. For further information, please see our SEC filings at www.sec.gov.

Total net return7

Share Class 1-month 3-month YTD 1-year ITD
Class S (No sales load) 0.74% 2.84% 3.60% 12.10% 11.05%
Class S (Max sales load) -2.66% -0.64% -0.10% 8.31% 9.15%

Historical net asset value per share

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2024 $10.39 $10.40 $10.44 $10.45 - - - - - - - -
2023 $10.17 $10.15 $10.12 $10.15 $10.11 $10.14 $10.21 $10.26 $10.28 $10.21 $10.32 $10.38
2022 - - - - $9.96 $9.81 $10.00 $10.04 $9.93 $9.97 $10.01 $10.02

Historical performance

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2024 0.74% 0.75% 1.32% 0.74% - - - - - - - - 3.60%
2023 2.92% 0.47% 0.37% 0.97% 0.27% 0.97% 1.36% 1.15% 0.85% 0.17% 1.74% 1.43% 13.39%
2022 - - - - -0.01% -0.99% 2.49% 0.87% -0.36% 1.05% 1.08% 0.77% 4.97%

Historical distribution per share

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2024 Distribution $0.0673 $0.0678 $0.0673 $0.0675 $0.0673 - - - - - - -
2024 Special Distribution - - $0.0300 - - - - - - - - -
2023 Distribution $0.0675 $0.0681 $0.0674 $0.0677 $0.0674 $0.0677 $0.0675 $0.0674 $0.0676 $0.0674 $0.0676 $0.0673
2023 Special Distribution $0.0750 - - - - - - - - $0.0200 - $0.0200
2022 Distribution - - - - $0.0391 $0.0511 $0.0542 $0.0574 $0.0641 $0.0640 $0.0678 $0.0675
2022 Special Distribution - - - - - - - - - - - -

Distribution payments are not guaranteed. Blue Owl Technology Income Corp. may pay distributions from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, return of capital or offering proceeds, and advances or the deferral of fees and expense reimbursements. The annualized distribution rate shown is calculated by multiplying the sum of the last three base distributions per share paid and special distribution per share paid by four, and dividing the result by the NAV per share of the month preceding the relevant three month period. Excluding special dividends, the Fund declared an annualized distribution amount of ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌$0.90‌‌‌ per share for Class I, ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​$0.87‌‌‌ per share for Class D, and ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌$0.81‌‌‌ per share for Class S, resulting in annualized distribution rates of ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌8.59%‌‌‌ for Class I shares, ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​​8.33%‌‌‌ for Class D shares, and ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​‌7.72%‌‌‌ for Class S shares based on the last reported NAV. The annualized distribution rate shown may be rounded and is net of applicable servicing fees (Class I: No servicing fee, Class D: 0.25%, Class S: 0.85%). The payment of future distributions is subject to the discretion of OTIC’s board of directors and applicable legal restrictions, therefore there can be no assurance as to the amount or timing of any such future distributions. Distributions are not guaranteed. Up to 100% of distributions have been funded and may continue to be funded by the reimbursement of certain expenses that are subject to repayment to the Adviser of OTIC. Such waivers and reimbursements by the Adviser may not continue in the future. No distributions paid were classified as a return of capital for the quarter ending ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌​December 31, 2023‌‌‌. For further information, please see our SEC filings at www.sec.gov.

Portfolio

OTIC has a highly defensive, diversified portfolio with borrowers spanning a wide range of products and end markets with uncorrelated business drivers.

$ 3.8 B
debt investments at par value
0
portfolio companies
0 %
senior secured loans8
99.9 %
floating rate debt investments 8

NEED TO REMOVE

  • Southeast 26.1%
  • West 24.1%
  • Midwest 19.2%
  • International 18.4%
  • Southwest 10.4%
  • Northeast 1.7%

Asset Type

  • First Lien Senior Secured 87%
  • Second Lien Senior Secured 6%
  • Preferred Equity 5%
  • Common Equity 1%
  • Unsecured 1%

Industry Diversification

  • Systems software 20%
  • Application software 12%
  • Healthcare technology 12%
  • Insurance 7%
  • Professional services 6%
  • Diversified financial services 5%
  • Healthcare providers & services 5%
  • Food & staple retailing 4%
  • IT services 4%
  • Other 9 26%

Past performance is not representative of future results. Click here to view more important information.

Handshake Icon

Top 10 holdings

Company10 Industry Facility type Fair Value Interest rate11 % of portfolio
Cell label Circana Group, L.P. Cell label Food and staples retailing Cell label 1st Lien $150,000 Cell label S + 6.25% (2.75% PIK) Cell label 4.0%
Cell label SailPoint Technology Holdings, Inc. Cell label Systems software Cell label 1st Lien $113,788 Cell label S + 6.00% Cell label 3.0%
Cell label Blackhawk Network Holdings, Inc. Cell label Diversified Financial Services Cell label 1st Lien $90,054 Cell label S + 5.00% Cell label 2.4%
Cell label Anaplan, Inc Cell label Application software Cell label 1st Lien $90,050 Cell label S + 6.50% Cell label 2.4%
New Relic Systems software 1st Lien $89,342 S + 6.75% 2.4%
Cell label Grayshift, LLC Cell label Application software Cell label 1st Lien $74,702 Cell label S + 8.00% Cell label 2.0%
Cell label Kaseya Inc. Cell label IT services Cell label 1st Lien $69,177 Cell label S + 6.00% (2.50% PIK) Cell label 1.8%
SimpliSafe Holding Corporation Commercial services & supplies 1st Lien $62,534 S + 6.25% 1.7%
Finastra USA, Inc. Banks 1st Lien $61,241 S + 7.25% 1.6%
Zendesk, Inc. Application software 1st Lien $59,728 S + 6.25% 1.6%

Case studies

coupalogo

Coupa

Learn more
Anaplan_logo.svg

Anaplan

Learn more
finastra-logo-E4E56BDC6E-seeklogo.com

Finastra

Learn more

Frequently asked questions

Need to contact us? Get in touch with our sales team.

All data as of April 30, 2024 unless otherwise noted. Past performance is not a guarantee of future results

Endnotes

  1. Distribution payments are not guaranteed. Blue Owl Technology Income Corp. may pay distributions from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, return of capital or offering proceeds, and advances or the deferral of fees and expense reimbursements. The annualized distribution rate shown is calculated by multiplying the sum of the last three base distributions per share paid and special distribution per share paid by four, and dividing the result by the NAV per share of the month preceding the relevant three month period. Excluding special dividends, the Fund declared an annualized distribution amount of ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌$0.90‌‌‌ per share for Class I, ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​$0.87‌‌‌ per share for Class D, and ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌$0.81‌‌‌ per share for Class S, resulting in annualized distribution rates of ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌8.59%‌‌‌ for Class I shares, ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​​8.33%‌‌‌ for Class D shares, and ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​​‌7.72%‌‌‌ for Class S shares based on the last reported NAV. The annualized distribution rate shown may be rounded and is net of applicable servicing fees (Class I: No servicing fee, Class D: 0.25%, Class S: 0.85%). The payment of future distributions is subject to the discretion of OTIC’s board of directors and applicable legal restrictions, therefore there can be no assurance as to the amount or timing of any such future distributions. Distributions are not guaranteed. Up to 100% of distributions have been funded and may continue to be funded by the reimbursement of certain expenses that are subject to repayment to the Adviser of OTIC. Such waivers and reimbursements by the Adviser may not continue in the future. No distributions paid were classified as a return of capital for the quarter ending ‌‌‌​​​​‌‌​‌​​‌​‌‌‌​‌‌‌​​​​​​​​‌‌​​​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌​‌​‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌‌‌‌‌‌‌‌‌‌‌‌‌‌​‌​March 31, 2023‌‌‌. For further information, please see our SEC filings at www.sec.gov.
  2. Any periodic repurchase offers are subject in part to our available cash and compliance with the BDC and RIC qualification and diversification rules
    promulgated under the 1940 Act and the Code, respectively. While we intend to continue to conduct quarterly repurchase offers as described above, we are
    not required to do so and may suspend or terminate the share repurchase program at any time. All periodic repurchase offers are subject to Board approval.
  3. Suitability requirements vary by broker-dealer. Please consult your financial representative.
  4. To be paid by the investor.
  5. Composition of Class S upfront sales load may change but will not exceed 3.50%.
  6. Ongoing Service Fee, together with the Maximum Upfront Sales Load, to be capped at 10% of gross proceeds or such other lower amount as Blue Owl may negotiate with its distribution partners.
  7. Past performance is not a guarantee of future results. Returns are compounded monthly. Total return is calculated as the change in monthly NAV (assuming any dividends and distributions, net of shareholder servicing fees, are reinvested in accordance with the Company’s dividend reinvestment plan), if any, divided by the beginning NAV. Returns greater than one year are annualized. Returns reflect reinvestments of distributions and the deduction of ongoing expenses that are borne by investors, such as management fees, incentive fees, servicing fees, interest expense, offering costs, professional fees, director fees and other general and administrative expenses. An investment in the Company is subject to a maximum upfront sales load (Class I: No sales load, Class D: 1.5%, Class S: 3.5%) which will reduce the amount of capital available for investment. Operating expenses may vary in the future based on the amount of capital raised, the Adviser’s election to continue expense support, and other unpredictable variables. Total returns based on the max upfront fee load for an investor starting at the inception of the respective share class, which for Class I does not have upfront fees Class D is March 1, 2021 and Class S is April 1, 2021.
  8. Based on par value and shown net of unfunded commitment amounts. Valuations may change over time. Based on debt portfolio only. Par value represents the face value of loans in the portfolio.
  9. Other industries include Commercial Services & Supplies (3.6%), Health Care Equipment & Supplies (2.4%), Diversified Consumer Services (2.3%), Real Estate Management & Development (2.2%), Life Sciences Tools & Services (1.8%), Aerospace & Defense (1.6%), Banks (1.6%), Beverages (1.3%), Equity REITs (1.3%), Containers & Packaging (1.2%), Media (0.9%), Consumer Finance (0.9%), Industrial Conglomerates (0.8%), Construction & Engineering (0.8%), Pharmaceuticals (0.6%), Buildings & Real Estate (0.6%), Machinery (0.5%), Energy Equipment & Services (0.3%), Multiline Retail (0.3%), Building Products (0.3%), Specialty Retail (0.2%), and Diversified Telecommunication Services (0.2%).
  10. L = LIBOR (London Interbank Offered Rate), the average interest rate at which leading banks borrow funds of a sizeable amount from other banks in the London market. LIBOR is the most widely used “benchmark” or reference rate for short term interest rates. S = SOFR (Secured Overnight Financing Rate ) G = GBPLIBOR (British pound sterling LIBOR). SA = SONIA (Sterling Overnight Indexed Average), measures the rate paid by banks on overnight funds. P = Prime, a commonly used, short-term interest rate in the banking system of the United States. C = CDOR (Canadian Dollar Offered Rate) E = EURIBOR (Euro Interbank Offered Rate). The United Kingdom’s Financial Conduct Authority (the “FCA”), which regulates LIBOR, announced that it will not compel panel banks to contribute to LIBOR after 2021 (or June 30, 2023 as it relates to US Dollar LIBOR, which is the predominant benchmark of our loans), which would require a successor benchmark rate in all jurisdictions. The elimination of or changes to LIBOR could have an adverse impact on the market value of and/or transferability of any LIBOR-linked securities, loans, and other financial obligations or extensions of credit held by or due to us or on our overall financial condition or results of operations. If LIBOR ceases to exist, we will need to renegotiate the credit agreements extending beyond 2021 (or June 2023) with our portfolio companies that utilize LIBOR as a factor in determining the interest rate, in order to replace LIBOR with the new standard that is established. Following the replacement of LIBOR, some or all of these credit agreements may bear interest at a lower interest rate, which could have an adverse impact on the value of our investments in these portfolio companies.

Important information

OTIC Risk Factors 

Assets Under Management (“AUM”) refers to the assets that we manage and are generally equal to the sum of (i) net asset value (“NAV”); (ii) drawn and undrawn debt; and (iii) uncalled capital commitments.

This is neither an offer to sell nor a solicitation of an offer to buy the securities described herein. Only a prospectus for Blue Owl Technology Income Corp. can make such an offer. This material is authorized only when it is accompanied or preceded by the Blue Owl Technology Income Corp. prospectus. Neither the SEC, the Attorney General of the State of New York nor any state securities commission has approved or disapproved of these securities or determined if the prospectus is truthful or complete. Any representation to the contrary is a criminal offense. Securities are offered through Blue Owl Securities LLC, member of FINRA/SIPC, as Dealer Manager

An investment in Blue Owl Technology Income Corp. (“OTIC”) is speculative and involves a high degree of risk, including the risk of a substantial loss of investment, as well as substantial fees and costs, all of which can impact an investor’s return. The following are some of the risks involved in an investment in OTIC’s common shares; however, an investor should carefully consider the fees and expenses and information found in the “Risk Factors” section of the OTIC prospectus before deciding to invest:

  •  You should not expect to be able to sell your shares regardless of how OTIC performs, and you should consider that you may not have access to the money you invest for an indefinite period of time. An investment in shares of OTIC's common stock is not suitable for you if you need access to the money you invest.
  • OTIC does not intend to list its shares on any securities exchange and does not expect a secondary market in its shares to develop. As a result, you may be unable to reduce your exposure in any market downturn. If you are able to sell your shares before a liquidity event, if any, is completed, you will likely receive less than your purchase price.
  • OTIC has implemented a share repurchase program pursuant to which it intends to conduct quarterly repurchases of a limited number of outstanding shares of its common stock. OTIC's board of directors has complete discretion to determine whether OTIC will engage in any share repurchase, and if so, the terms of such repurchase. OTIC's share repurchase program includes numerous restrictions that may limit your ability to sell your shares. As a result, share repurchases may not be available each month. While OTIC intends to continue to conduct quarterly tender offers as described above, it is not required to do so and may amend or suspend the share repurchase program at any time.
  •  Distributions on OTIC's common stock may exceed OTIC's taxable earnings and profits, particularly during the period before it has substantially invested the net proceeds from its public offering. Therefore, portions of the distributions that OTIC pays may represent a return of capital to you for U.S. federal tax purposes. A return of capital is a return of a portion of your original investment in shares of OTIC common stock. As a result, a return of capital will (i) lower your tax basis in your shares and thereby increase the amount of capital gain (or decrease the amount of capital loss) realized upon a subsequent sale or redemption of such shares, and (ii) reduce the amount of funds OTIC has for investment in portfolio companies. OTIC has not established any limit on the extent to which it may use sources other than cash flows from operations to fund distributions.
  •  Distributions may also be funded in significant part, directly or indirectly, from the deferral of certain investment advisory fees that may be subject to repayment to the Adviser and/or the reimbursement of certain operating expenses, that may be subject to repayment to the Adviser and its affiliates. Significant portions of distributions may not be based on investment performance. In the event distributions are funded from deferrals of fees and reimbursements by OTIC's affiliates, such funding may not continue in the future. If OTIC's affiliates do not agree to reimburse certain of its operating expenses, then significant portions of OTIC's distributions may come from sources other than cash flows from operations. The repayment of any amounts owed to OTIC's affiliates will reduce future distributions to which you would otherwise be entitled.
  • The payment of fees and expenses will reduce the funds available for investment, the net income generated, the funds available for distribution and the book value of the common shares. In addition, the fees and expenses paid will require investors to achieve a higher total net return in order to recover their initial investment. Please see OTIC's prospectus for details regarding its fees and expenses.
  •  OTIC intends to invest in securities that are rated below investment grade by rating agencies or that would be rated below investment grade if they were rated. Below investment grade securities, which are often referred to as "junk," have predominantly speculative characteristics with respect to the issuer's capacity to pay interest and repay principal. They may also be illiquid and difficult to valu
  • The Adviser and its affiliates face a number of conflicts with respect to OTIC. Currently, the Adviser and its affiliates manage other investment entities, including Blue Owl Technology Finance Corp. (OTF) and Blue Owl Technology Finance Corp. II (OTF II) and are prohibited from raising money for and managing future investment entities that make the same types of investments as those OTIC targets. As a result, the time and resources that the Adviser devotes to OTIC may be diverted. In addition, OTIC may compete with any such investment entity also managed by the Adviser for the same investors and investment opportunities. Furthermore, the Adviser may face conflicts of interest with respect to services it may perform for companies in which OTIC invests as it may receive fees in connection with such services that may not be shared with OTIC.
  • The incentive fee payable by OTIC to the Adviser may create an incentive for the Adviser to make investments on OTIC's behalf that are risky or more speculative than would be the case in the absence of such compensation arrangements. OTIC may be obligated to pay the Adviser incentive fees even if OTIC incurs a net loss due to a decline in the value of its portfolio and even if its earned interest income is not payable in cash.
  • The information provided above is not directed at any particular investor or category of investors and is provided solely as general information about Blue Owl products and services to regulated financial intermediaries and to otherwise provide general investment education. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action as Blue Owl Securities LLC, its affiliates, and OTIC are not undertaking to provide impartial investment advice, act as an impartial adviser, or give advice in a fiduciary capacity with respect to the materials presented herein.

6071365.1