Blue Owl Capital jumped 13% after its Q1 2026 earnings call revealed the alternative asset manager had generated a 10x return on its SpaceX investment, while also reporting assets under management of $315 billion — ahead of expectations. The stock had been under pressure in recent months despite solid fundamentals, making the earnings-day reversal notable. Blue Owl operates in the private credit space, a market that now controls roughly $1.8 trillion in assets globally.
Blue Owl is increasingly watched as a bellwether for the private credit industry, so a strong earnings print here signals the sector's fee engines are still running hot. Investors holding alternative asset managers — or ETFs exposed to financials — should note that private credit's growth story remains intact despite rate uncertainty. The SpaceX gain also reinforces that pre-IPO tech exposure in private vehicles can deliver outsized returns unavailable in public markets.
Q2 2026 earnings season (July): Watch for updates from competitors Ares Management and Apollo Global to see if the private credit trend holds. Any Federal Reserve rate decision: Private credit lending margins are sensitive to where rates go next.
Full analysis · Subscribers
The deep dive (bull case, bear case, and the data point that decides which side wins), the cause-and-effect chain behind the move, plain-English explainers for every block.
Aggregated reads dozens of sources in five languages and turns the day into plain-English cards like this one.
Educational analysis of public information, not investment advice. Report an error · Corrections policy
← Today's brief