Blue Owl Alternative Credit Fund
Sponsored by Blue Owl. Interval Fund structure focused on private credit.
Interval FundPrivate Credit
- Net assets
- $1.50B
source
Monthly portfolio report (Form N-PORT) · filed 2026-05-29 · period 2026-03-31
Net assets (N-PORT Part B, Item B.2)
Method Direct: read from a structured filing field
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2026-03-31 - NAV / share
- $9.96
source
Shareholder report (Form N-CSR) · filed 2026-02-27 · period 2025-12-31
canonical class (Class I) headline, basis: Consolidated Statement of Assets and Liabilities (direct, not derived) — Consolidated Statement of Assets and Liabilities: 'Class I shares of beneficial interest Net Asset Value, 103,638,237 shares issued and outstanding $1,032,754,208 Class U shares of beneficial interest Net Asset Value, 21,515,774 shares issued and outstanding $214,404,521 Net Asset Value Per Class I Share $9.96 Net Asset Value Per Class U Share $9.96' (each class ties its own net-assets/shares-outstanding line: 1,032,754,208/103,638,237 = $9.96498..., rounds to $9.96; 214,404,521/21,515,774 = $9.96497..., rounds to $9.96). Class I is canonical: listed first and the majority class (82.8% of the Fund's $1,247,158,729 total net assets). Both classes disclose the identical $9.96 NAV/share, so the canonical choice does not change the headline.
“Class I shares of beneficial interest Net Asset Value, 103,638,237 shares issued and outstanding $ 1,032,754,208 Class U shares of beneficial interest Net Asset Value, 21,515,774 shares issued and outstanding $ 214,404,521 Net Asset Value Per Class I Share $ 9.96 Net Asset Value Per Class U Share $ 9.96”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
Class I (canonical class) · 2025-12-31 - Net flows, last qtr
- +17.4% qtr ended 2026-03-31
- Distribution coverage (NII)
- 75% period ended 2025-12-31
- Leverage in use
- 27% debt / equity 0.22x
- Total return, 12m
- Insufficient history computed from NAV + distributions
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
The Adviser's voluntary pre-offering waiver of the Management Fee and Incentive Fee terminated upon commencement of the Fund's public offering of Shares, effective August 29,... (2025-08-29)
The Adviser's voluntary pre-offering waiver of the Management Fee and Incentive Fee terminated upon commencement of the Fund's public offering of Shares, effective August 29, 2025; fees became payable at the Fund's standard schedule from that date forward.
Why it matters and what changed
A fee waiver ended. Net expenses rise immediately and net returns fall by roughly the waived amount; because no dramatic filing accompanies a quiet lapse, this is exactly the kind of change a wholesaler will not volunteer.
Occurrence event; see the filing text for terms vs the prior arrangement.
Source: https://www.sec.gov/Archives/edgar/data/2059436/000162828026012442/owlcx12312025ncsr.htm | N-CSR narrative
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
No structured portfolio-health series or position-change events have been captured for this fund.
Where exit demand met the cap.
The disclosed history shows no rationed period.
No structured redemption history has been captured for this fund.
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
No structured financing components have been captured for this fund.
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
Class I 68.6%Class U 14.3%Not attributed 17.1%
| Class | Terms-based role description | Load | Servicing | Minimum | Assets |
|---|---|---|---|---|---|
| Class I | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $1,032,754,2082025-12-31 |
| Class U | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $214,404,5212025-12-31 |
Management fee: 0.75% of avg daily managed assets per year. source. The Fund will pay the Adviser a management fee (the 'Management Fee') at an annual rate of 0.75% based on the average daily value of the Fund's Managed Assets, payable monthly in arrears. 'Managed Assets' means total assets (including assets attributable to borrowings for investment purposes) minus accrued liabilities other than liabilities representing borrowings for investment purposes. The Fund separately pays a two-part Incentive Fee -- not captured here, per convention.
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (1)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | The Fund will pay the Adviser a management fee (the 'Management Fee') at an annual rate of 0.75% based on the average daily value of the Fund's Managed Assets, payable monthly in arrears. 'Managed Assets' means total assets (including assets attributable to borrowings for investment purposes) minus accrued liabilities other than liabilities representing borrowings for investment purposes. The Fund separately pays a two-part Incentive Fee -- not captured here, per convention. | 0.75 pct_annual_of_avg_daily_managed_assets | Date not captured |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-05-29 | NPORT-P | 0001410368-26-056000 |
| 2026-04-13 | N-23C3A | 0001628280-26-024908 |
| 2026-03-02 | NPORT-P | 0001410368-26-021130 |
| 2026-02-27 | N-CSR | 0001628280-26-012442 |
| 2026-01-12 | N-23C3A | 0001628280-26-001845 |
| 2025-11-28 | NPORT-P | 0001410368-25-032711 |
| 2025-10-14 | N-23C3A | 0001628280-25-044941 |
| 2025-08-29 | N-CSRS | 0002059436-25-000063 |
| 2025-08-22 | NPORT-P | 0001752724-25-200390 |
| 2025-07-14 | N-23C3A | 0002059436-25-000056 |
| 2025-05-15 | NPORT-P | 0001752724-25-103032 |