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Blue Owl scrapped plans to fold its smaller, non-traded Blue Owl Capital Corporation II into the larger, publicly traded Blue Owl Capital Corporation after investor angst and volatility. The proposed deal had frozen redemptions for investors in the $1.7 billion OBDC II and implied about 20% paper losses based on OBDC’s trading. News of the restrictions sent Blue Owl Capital shares down around 6% Monday, with a slight rebound Tuesday. The boards reversed course, and a Wednesday release cited current market conditions. CEO Craig Packer said both funds remain strong and will operate independently.

Prepared by Christopher Adams and reviewed by editorial team.