DFX Intelligence
Real Estate Fund Intelligence
The manager graph behind U.S. private real estate capital. Which vehicles a manager swears to, what each reports year by year, what the manager says it does, and, where the evidence holds, which owner entities, properties, loans, lenders and pensions stand behind it. GAV is gross asset value on a filing date, never fund size, and every manager-to-property link carries its evidence class.
Manager
Blue Owl Real Estate Capital LLC
What capital do they manage?
- Real estate GAV
- no GAVsum of GAV over non-feeder, non-quarantined Real Estate Fund vehicles on the latest filing (a scale proxy, never fund size)
- Vehicles
- 0 current, 9 ever, 6 dropped0 feeders, 1 funds of funds
- First on the tape
- 2012the extract starts in 2011; an earlier history is not visible
- Latest filing
- Dec 26, 2024registered adviser
- Adviser RAUM
- $25Bthe whole adviser, all strategies; used for the quarantine test only
- Fund types on the latest filing
- Hedge Fund 14
- Latest vintage
- 2022from a fund name year or the first ADV report after the adviser's first filing
What do they say they do?
stated by the manager
- Strategy
- Net lease
- Operator model
- Hybridbasis: stated
- Property types
- Net leasebasis: stated
- Markets
- Europe, Zurich, Switzerland, Japan, Abu Dhabibasis: stated
- Business kind (site)
- REAL_ESTATE_MANAGER
- AUM in its own words
- $89.4B AUM (Real Assets platform); $319B+ total firm AUMthe manager's statement, not a DFX figure
- Parent
- Blue Owl Capital Inc.
In the manager’s own words
- Net lease: “Oak Street’s Net Lease strategy is created with the launch of Oak Street Partners Real Estate Fund I”
- Multi-strategy: “Oak Street, the predecessor firm to Blue Owl’s Real Assets platform, is founded, offering flexible solutions through private equity real estate”
- Net lease: “Oak Street’s Net Lease strategy is created with the launch of Oak Street Partners Real Estate Fund I”
- Europe: “Blue Owl Closes European Net Lease Fund with Over €1.6 Billion of Total Capital Commitments and Seeks to Provide Differentiated Capital Solutions to Investment Grade Corporate Real Estate Occupiers”
- Zurich, Switzerland: “Blue Owl Opens Zurich Office to Expand European Footprint”
- Japan: “Blue Owl Capital Hires Takeo Ikemori to Lead Institutional Capital in Japan”
- Abu Dhabi: “Blue Owl Strengthens Global Presence with Opening of Abu Dhabi Office”
Vehicles
9 on Form ADV
No vehicles match.
9 dropped, re-typed or historical vehicles
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|---|
| OAK Street Investment Grade Net Lease Fund, LP 805-3067089158, re-typed Hedge Fund | fund | $2.7B GAV 2024 | 1 | 2022 to 2024 | 2022 | Investing | Net lease | ||
| OAK Street Real Estate Capital Fund III, LP 805-4796857743, dropped 2018 | fund | $1.1B GAV 2017 | 76 | 2015 to 2017 | 2015 | Dropped from ADV | |||
| OAK Street Real Estate Capital Fund II, LP 805-6192111100, dropped 2018 | fund | $146M GAV 2017 | 9 | 2012* to 2017 | unknown | Dropped from ADV | |||
| Blue Owl Nl Opportunity Credit Investors a LP 805-6477530720, re-typed Hedge Fund | fund | $70M GAV 2024 | 61 | 2022 to 2024 | 2022 | Investing | Debt | ||
| OAK Street Real Estate Capital Atco Sma, LP 805-8303491328, dropped 2014 | fund | $49M GAV 2013 | 35 | 2012* to 2013 | unknown | Dropped from ADV | |||
| Qba'a US Co, Inc. 805-4997312176, dropped 2023 | fund of funds | $29M GAV 2022 | 2 | 2018 to 2022 | 2018 | Dropped from ADV | |||
| OAK Street Real Estate Capital Ml Sma, LP 805-2870719845, dropped 2018 | fund | $15M GAV 2017 | 3 | 2017 to 2017 | 2017 | Dropped from ADV | |||
| Blue Owl Real Estate Fund III LP 805-3563829372, re-typed Hedge Fund | fund | $2M GAV 2024 | 76 | 2021 to 2024 | 2021 | Winding down | |||
| OAK Street Real Estate Capital Fund IV, LP 805-7627524979, dropped 2018 | fund | $0 GAV 2017 | 0 | 2017 to 2017 | 2017 | Dropped from ADV |
What do they actually own?
1 trusted of 1 candidate bindings
| Owner entity | Vehicle | Properties held | Loans | Evidence |
|---|---|---|---|---|
| SBKSAFL001 LLC FL, financial institution | manager only | 1 assessed $2.8M | Corporate filing sunbiz_officer_is_manager |
What are they buying, selling and financing?
0 acquisitions, 0 sales, 0 financings in 12 months
- AcquisitionFeb 1, 2025$3.4M120 STATE ROAD 312, Saint Augustine FL (financial institution) through SBKSAFL001 LLCfl dor nal search.sunbiz.org
Who finances them?
0 loans, 0 lender groups
No recorded loans through trusted holdings.
Who backs them?
5 allocators, 8 rows
- Los Angeles City Employees' Retirement System in Blue Owl Real Estate Fund VII LP manager_brand$50.0M committed, as of Sep 8, 2026 lacers.org
- New York State Common Retirement Fund in Blue Owl Real Estate Fund VII, L.P. manager_brand$300M committed, as of Mar 27, 2026 osc.ny.gov
- New York State Common Retirement Fund in Blue Owl Real Estate Co-Invest (N) L.P. manager_brand$100M committed, as of Mar 27, 2026 osc.ny.gov
- New York State Common Retirement Fund in Blue Owl Digital Infrastructure Fund III manager_brand$175M fair value, as of Mar 31, 2025 osc.ny.gov
- LIZ Claiborne & Art Ortenberg Foundation in BLUE OWL REAL ESTATE FUND VI (OFFSHORE) LP manager_brand$754,262 fair value, as of Dec 31, 2024 apps.irs.gov
- Circle of Service Foundation in BLUE OWL REAL ESTATE FUND IV, LP manager_brand$917,908 fair value, as of Dec 31, 2024 apps.irs.gov
- Circle of Service Foundation in BLUE OWL REAL ESTATE FUND V, LP manager_brand$2.6M fair value, as of Dec 31, 2024 apps.irs.gov
- William a Brookshire Foundation in Blue Owl Real Estate Net Lease manager_brand$3.2M fair value, as of Dec 31, 2024 apps.irs.gov
People
Form ADV Schedule A, latest filing
- Marc Nmn Zahr Co-President since 2011-09 also on pe
- Karen Nmn Hager Chief Compliance Officer since 2021-12 also on pe
- Neena Ann Reddy Chief Legal Officer since 2021-12 also on pe
- Alan Jay Kirshenbaum Chief Financial Officer since 2021-12 also on pe
- Douglas Irving Ostrover Co-Chief Executive Officer since 2021-12 also on pe, vc
- Andrew Robert Polland Chief Operating Officer since 2021-12 also on pe
- Marc Steven Lipschultz Co-Chief Executive Officer since 2023-05 also on pe
What is changing?
- Vehicle dropped from ADV Mar 28, 2024 (observed) Blue Owl Real Estate Seeding Fund LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle dropped from ADV Mar 28, 2024 (observed) Blue Owl Real Estate Ers Preem II LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle dropped from ADV Mar 28, 2024 (observed) Blue Owl Real Estate Emerging Manager U1a LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle dropped from ADV Mar 28, 2024 (observed) Blue Owl Real Estate Ers Preem I LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle dropped from ADV Mar 28, 2024 (observed) Blue Owl Real Estate Emerging Manager U1 LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle dropped from ADV Mar 28, 2024 (observed) Blue Owl Real Estate Emerging Manager U2 LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle dropped from ADV Mar 28, 2024 (observed) Blue Owl Real Estate Seeding and Strategic Capital Fund Ii-Mw LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle dropped from ADV Mar 28, 2024 (observed) Blue Owl Real Estate Ers Preem II Sidecar LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle dropped from ADV Mar 28, 2024 (observed) OS Select, LLC no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle dropped from ADV Mar 28, 2024 (observed) Blue Owl Real Estate Seeding and Strategic Capital Fund II LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle dropped from ADV Mar 31, 2023 (observed) Qba'a US Co, Inc. no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle first reported Mar 31, 2022 (observed) Blue Owl Nl Opportunity Credit Investors a LP first reported on Form ADV by Blue Owl Real Estate Capital LLC, GAV $61,741,491
- Vehicle first reported Mar 31, 2022 (observed) OAK Street Investment Grade Net Lease Fund, LP first reported on Form ADV by Blue Owl Real Estate Capital LLC, GAV $2,754,329,846
- Vehicle dropped from ADV Mar 31, 2022 (observed) MAI Wealth Income and Growth Fund, LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle first reported Mar 31, 2021 (observed) Blue Owl Real Estate Fund III LP first reported on Form ADV by Blue Owl Real Estate Capital LLC, GAV $11,587,423
- Vehicle first reported Mar 30, 2020 (observed) Blue Owl Real Estate Emerging Manager U2 LP first reported on Form ADV by Blue Owl Real Estate Capital LLC, GAV $75,757,575
- Vehicle first reported Mar 30, 2019 (observed) Blue Owl Real Estate Ers Preem II Sidecar LP first reported on Form ADV by Blue Owl Real Estate Capital LLC, GAV $51,198,981
- Vehicle first reported Mar 30, 2019 (observed) Blue Owl Real Estate Seeding and Strategic Capital Fund Ii-Mw LP first reported on Form ADV by Blue Owl Real Estate Capital LLC, GAV $100,000,000
- Vehicle first reported Mar 30, 2019 (observed) Blue Owl Real Estate Seeding and Strategic Capital Fund II LP first reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle first reported Mar 30, 2019 (observed) OS Select, LLC first reported on Form ADV by Blue Owl Real Estate Capital LLC, GAV $5,299,199
- Vehicle first reported Mar 29, 2018 (observed) Blue Owl Real Estate Emerging Manager U1a LP first reported on Form ADV by Blue Owl Real Estate Capital LLC, GAV $101,024,780
- Vehicle dropped from ADV Mar 29, 2018 (observed) OAK Street Real Estate Capital Fund II, LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle dropped from ADV Mar 29, 2018 (observed) OAK Street Real Estate Capital Ml Sma, LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle first reported Mar 29, 2018 (observed) Qba'a US Co, Inc. first reported on Form ADV by Blue Owl Real Estate Capital LLC, GAV $23,115,000
- Vehicle dropped from ADV Mar 29, 2018 (observed) OAK Street Real Estate Capital Fund IV, LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle first reported Mar 29, 2018 (observed) Blue Owl Real Estate Emerging Manager U1 LP first reported on Form ADV by Blue Owl Real Estate Capital LLC, GAV $100,899,186
- Vehicle dropped from ADV Mar 29, 2018 (observed) OAK Street Real Estate Capital Fund III, LP no longer reported on Form ADV by Blue Owl Real Estate Capital LLC
- Vehicle first reported Mar 31, 2017 (observed) Blue Owl Real Estate Seeding Fund LP first reported on Form ADV by Blue Owl Real Estate Capital LLC, GAV $25,000,000
- Vehicle first reported Mar 31, 2017 (observed) OAK Street Real Estate Capital Ml Sma, LP first reported on Form ADV by Blue Owl Real Estate Capital LLC, GAV $15,000,000
- Vehicle first reported Mar 31, 2017 (observed) OAK Street Real Estate Capital Fund IV, LP first reported on Form ADV by Blue Owl Real Estate Capital LLC
Across DFX
Bridged by shared CRD, CIK or SEC fund id only; the same institution’s PE portfolio companies and its real estate holdings stay on their own graphs.