Blue Owl Capital Corporation operates as a business development company (BDC).

The firm strategically allocates capital across a diverse range of financial instruments, including senior secured, unsecured, subordinated, and mezzanine debt.

Additionally, it actively seeks equity-linked opportunities, such as warrants and preferred stock, alongside direct investments in both preferred and common equity. Within its private equity endeavors, the company targets businesses engaged in growth initiatives, strategic acquisitions, market or product expansion, financial refinancings, and capital recapitalizations.

Its primary focus is on U.S.-based middle-market enterprises that, at the time of investment, exhibit annual EBITDA figures ranging from $10 million to $250 million, or generate annual revenues between $50 million and $2.5 billion.