schreef:
Owl Rock Capital Corp. (NYSE:ORCC) said on Thursday it's changing its name, ticker, and website to rebrand as Blue Owl Capital Corporation, effective July 6, 2023.
At the same time, it will update its ticker symbol on the NYSE to "OBDC" from "ORCC".
Owl Rock Capital Corp. (ORCC) is managed by an investment adviser that is an indirect affiliate of Blue Owl Capital Inc. (NYSE:OWL). "This name change will not change the day-to-day business of the company, but rather is part of a broader initiative to have one Blue Owl Brand," the company said.
According to a media report, the rebranding coincides with a dispute among the firms' co-founders. In 2021, Blue Owl Capital was formed after Owl Rock, founded by Marc Lipschultz and Doug Ostrover, merged with Dyal Capital through a SPAC deal.
Dyal is being renamed Blue Owl GP Strategic Capital, Bloomberg said, citing an investor letter. Lipschultz and Ostrover have asked Dyal's founder, Michael Rees, to resign, people familiar with the matter told Bloomberg. The report said strains intensified when, in May, Lipschultz was promoted to co-CEO from co-president, a role he shared with Rees since the SPAC deal.