Owl Rock Technology Income Corp.

09/23/2026 | Press release | Distributed by Public on 09/23/2026 14:10

Private Placement (Form 8-K)

Item 3.02. Unregistered Sale of Equity Securities
As of September 1, 2026, Blue Owl Technology Income Corp. (the "Company," "we" or "us") sold unregistered shares of its Class I common stock to feeder vehicles primarily created to hold the Company's Class I shares. The offer and sale of these Class I shares was exempt from the registration provisions of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) and/or Regulation S thereunder (the "Private Offering"). The following table details the shares sold:
Date of Unregistered Sale Approximate Number of Shares of Class I Common Stock Consideration
As of September 1, 2026 (number of shares finalized on September 23, 2026)
89,128 $ 869,000
Item 8.01. Other Events.

Distribution
On August 4, 2026, the Company's board of directors declared the following monthly distribution payable on or before October 30, 2026 and November 30, 2026 to shareholders of record as of September 30, 2026 and October 30, 2026.
Class of Common Shares
Gross Distributions
Shareholder Servicing Fee 1
Net Distributions 1
Class S
$ 0.074775 $ 0.006812 $ 0.067963
Class D
$ 0.074775 $ 0.002003 $ 0.072772
Class I
$ 0.074775 $ 0.000000 $ 0.074775
Status of the Offering
The Company is currently publicly offering on a continuous basis up to $5.0 billion (the "Current Offering") in shares of Class S, Class D and Class I common stock (the "Shares") and previously offered on a continuous basis up to $10.0 billion in Shares (the "Prior Offerings" and together with the Current Offering, the "Offering"). Additionally, the Company has sold unregistered Shares as part of the Private Offering. The following table lists the Shares issued and total consideration for both the Offering and the Private Offering as of the date of this filing. The table below does not include Shares issued through the Company's distribution reinvestment plan.
Offering Common Shares Issued Total Consideration
Class S Shares 94,962,552 $ 981,563,473
Class D Shares 3,430,023 35,054,508
Class I Shares 44,791,129 459,873,835
Private Offering
Class I Shares 253,338,253 2,591,043,735
Total Offering and Private Offering2 396,521,957 $ 4,067,535,551
1 Based on August 31, 2026 net asset value.
2 Includes seed capital of $1,000 contributed by Blue Owl Technology Credit Advisors LLC, an affiliate of Blue Owl Technology Credit Advisors II LLC (the "Adviser"), in September 2021 and approximately $50.0 million in gross proceeds raised from entities affiliated with the Adviser.
September 1, 2026 Public Offering Price
In accordance with the Company's share pricing policy, we intend to sell our shares on the first business day of each month at a net offering price that we believe reflects the net asset value ("NAV") per share at the end of the preceding month. The September 1, 2026 public offering price for each of our share classes is equal to such class's NAV per share as of August 31, 2026, plus applicable maximum upfront sales load. As of August 31, 2026, the Company's aggregate NAV was $2.7 billion.
Net Asset Value (per share)
Class S $9.75
Class D $9.75
Class I $9.75
Performance Update
The table below summarizes the Company's Class I common share returns for the following periods as of August 31, 2026:
1-month 3-month Year-to-Date 1-year 3-year Inception-to-Date
Total net return3 1.6 % 1.4 % (0.2) % 2.9 % 7.9 % 9.0 %
Through August 31, 2026, the Company's Class I shares have also outperformed public credit alternatives, exceeding the Morningstar LSTA U.S. Leveraged Loan Index by 209 basis points, the Bloomberg U.S. Corporate High Yield Index by 230 basis points, and the Bloomberg U.S. Aggregate Bond Index by 680 basis points since inception4. As of August 31, 2026 the Company's annualized distribution rate for Class I Common Shares is 9.2%5.
3 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 S: 3.5%, Class D: 1.5%, Class I: No sales load) 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. Returns since inception (ITD) are based on the inception date of the respective share class, which for Class S, Class D and Class I are May 2, 2022.
Class S (With Max Sales Load): (1.9)% (1-mo), (2.2)% (3-mo), (4.1)% (YTD), (1.4)% (1-yr), 5.8% (3-yr), 7.2% (ITD)
Class S (No Sales Load): 1.5% (1-mo), 1.2% (3-mo), (0.8)% (YTD), 2.0% (1-yr), 7.0% (3-yr), 8.1% (ITD)
Class D (With Max Sales Load): 0.1% (1-mo), (0.2)% (3-mo), (1.9)% (YTD), 1.1% (1-yr), 7.1% (3-yr), 8.3% (ITD)
Class D (No Sales Load): 1.6% (1-mo), 1.3% (3-mo), (0.4)% (YTD), 2.6% (1-yr), 7.7% (3-yr), 8.7% (ITD)
4 Source: Bloomberg. The Morningstar LSTA U.S. Leveraged Loan Index is designed to reflect the market-weighted performance of U.S. institutional leveraged loans. The Bloomberg U.S. Corporate High Yield Index measures the USD-denominated, high yield, fixed-rate corporate bond market. The Bloomberg U.S. Aggregate Bond index is a broad-based flagship benchmark that measures the investment grade, U.S. dollar denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, mortgage-backed securities, asset backed securities and commercial mortgage-backed securities.
5 Distribution payments are not guaranteed. The Company may pay distributions from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, return of capital, offering proceeds, and advances or the deferral of fees and expense reimbursements. The annualized distribution rate shown is calculated by multiplying the September distribution per share declared by twelve and dividing the result by the August 31, 2026 NAV per share. The annualized distribution rate shown may be rounded and is presented 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 the Company's board of directors and applicable legal restrictions. Accordingly, there can be no assurance as to the amount or timing of any future distributions, and distributions may be reduced, suspended, or eliminated at any time. For further information, please see the Company's filings with the U.S. Securities and Exchange Commission at www.sec.gov.
Portfolio and Business Update
The average debt-to-equity leverage ratio during the month-to-date period ended August 31, 2026 was 0.84x. As of August 31, 2026, we had net leverage of 0.83x debt-to-equity. As of August 31, 2026, we had available liquidity of $1.2 billion, which includes cash, liquid Level 2 assets and available debt based on current borrowing base limitations. The table below summarizes the company's committed debt capacity and drawn amounts as of August 31, 2026.
($ in millions) Number of Facilities Aggregate Principal Committed Outstanding Principal
Revolving Credit Facility 1 $ 1,050 $ 471
SPV Asset Facilities 4 2,050 1,446
CLOs 1 270 270
Unsecured Notes 2 175 175
Total Debt $ 3,545 $ 2,362
Of the Company's committed debt capacity, $2.4 billion (99.8%) is in floating rate leverage based on drawn amounts. In addition, on September 10, 2026, the Company amended and extended the Revolving Credit Facility to decrease the facility amount from $1,050.0 million to $975.0 million, and extend maturities.
As of August 31, 2026, we had investments in 168 portfolio companies with an aggregate fair value of $5.0 billion, and the fair value of our debt investments as a percentage of principal was 95.3%. As of August 31, 2026, based on fair value, our portfolio consisted of 87.2% first lien debt investments, 4.0% second lien debt investments, 1.3% unsecured debt investments, 3.3% preferred equity investments, 1.8% specialty finance equity investments, 2.1% common equity investments and 0.3% joint venture investments. As of August 31, 2026, 98.3% of the debt investments based on fair value in our portfolio were at floating rates. The table below describes investments by industry composition based on fair value as of August 31, 2026.
Industry
Fair Value
($ in millions)
% of Fair Value
Application Software $ 833 16.7 %
Systems Software 690 13.8 %
Health Care Technology 664 13.3 %
Diversified Financial Services 366 7.3 %
Professional Services 297 5.9 %
Insurance 264 5.3 %
IT Services 243 4.9 %
Health Care Providers & Services 216 4.3 %
Health Care Equipment & Supplies 179 3.6 %
Food & Staples Retailing 138 2.8 %
Diversified Consumer Services 123 2.5 %
Buildings & Real Estate 105 2.1 %
Life Sciences Tools & Services 79 1.6 %
Commercial Services & Supplies 76 1.5 %
Aerospace & Defense 67 1.3 %
Equity Real Estate Investment Trusts (REITs) 66 1.3 %
Industry
Fair Value
($ in millions)
% of Fair Value
Pharmaceuticals 57 1.1 %
Capital Markets 53 1.1 %
Specialty Retail 53 1.1 %
Entertainment 50 1.0 %
Industrial Conglomerates 46 0.9 %
Asset Based Lending and Fund Finance 42 0.8 %
Hotels, Restaurants & Leisure 37 0.7 %
Consumer Finance 33 0.7 %
Internet & Direct Marketing Retail 29 0.6 %
Media 28 0.6 %
Banks 24 0.5 %
Wireless Telecommunication Services 24 0.5 %
Containers & Packaging 16 0.3 %
Water Utilities 16 0.3 %
Joint Venture 15 0.3 %
Multiline Retail 14 0.3 %
Food Products 14 0.3 %
Airlines 9 0.2 %
Beverages 9 0.2 %
Household Products 7 0.1 %
Construction & Engineering 6 0.1 %
Building Products $ 5 0.1 %
Total $ 4,993 100.0 %
Past performance is not necessarily indicative of future performance, and there can be no assurance that we will achieve comparable investment results, or that any targeted returns will be met.
Statements contained herein that are not historical facts are based on current expectations, estimates, projections, opinions, and/or beliefs of our management. Such statements involve known and unknown risks, uncertainties, and other factors, and undue reliance should not be placed thereon. Certain information contained herein constitutes "forward-looking statements," which can be identified by the use of terms such as "may", "will", "should", "expect", "project", "estimate", "intend", "continue", "target", or "believe variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or our actual performance may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements in making their investment decisions.
The estimates presented above are based on management's preliminary determinations only and, consequently, the data set forth in our Form 10-Q or 10-K may differ from these estimates, and any such differences may be material. In addition, the information presented above does not include all of the information regarding our financial condition and results of operations that may be important to investors. As a result, investors are cautioned not to place undue reliance on the information presented above. The information presented above is based on management's current expectations that involve substantial risk and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, such information. We assume no duty to update these preliminary estimates except as required by law.
Owl Rock Technology Income Corp. published this content on September 23, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on September 23, 2026 at 20:10 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]