- Owl Rock Capital ( NYSE: ORCC ) on Wednesday reported better-than-expected Q4 results as rising interest rates drove net investment income higher and credit performance remained strong.
- Shares of the alternative asset manager ticked 1.8% higher after hours.
- Q4 NII was $0.41 vs. $0.35 in Q4 2021. Total investment income grew 24.5% Y/Y to $350.5M.
- Net asset value per share increased to $14.99 compared to $14.85 as of September 30, 2022.
- Owl Rock ( ORCC ) delivered NII ROE of 11% in Q4, up from 9.3% in the year-ago period.
- "In 2022 we achieved record NII, its highest level since our IPO, to finish an outstanding year characterized by continued earnings momentum from rising interest rates," said CEO Craig Packer.
- For Q4, new investment commitments totaled $211.2M across six new portfolio companies and two existing ones. That compares to $427.4M in Q3 and $1.59B in Q4 2021.
- Owl Rock ( ORCC ) also declared a $0.04 supplemental dividend along with $0.33 quarterly dividend .
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Owl Rock Capital posts Q4 earnings beat as rising interest rates lift NII