🎙️ podcast Analysis February 23, 2026 RiskReversal Pod

Blue Owl Capital: Private Credit Liquidity Mismatch Exposes Retail Access Risks

Asset Management Private Credit
Tickers
3 Picks
Conviction HIGH
Risk Profile 2.2/10 (MODERATE RISK)
Horizon 6-18 months
Signal Snapshot Core Theme: Private Credit

Private credit democratization proceeds smoothly

Retail redemptions overwhelm semi-liquid structures

CoreWeave funding failure; Redemption gate persistence

Executive Summary

Blue Owl Capital Corp II permanently gated redemptions after retail investors rushed to exit the semi-liquid private credit vehicle, creating the first visible crack in the democratization of alternative investments. The fund sold $1.4 billion in loans at 99.7% of NAV, demonstrating asset quality remains intact, but the timing mismatch between retail liquidity needs and long-dated loan assets has exposed a fundamental structural flaw. This stress is bleeding into individual names: Blue Owl trade...

Key Investment Opportunity

Contrarian Blue Owl Position

Heavy insider buying at $15.06 average versus current $10.75 price, with management demonstrating confidence while asset quality remains intact at 99.7% NAV sales

...and 2 more investment opportunities

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