Private fund adviser · Chicago, IL
Blue Owl Real Estate Capital LLC
SEC-registered investment adviser · CRD 165132 · SEC 801-77141
At a glance
Blue Owl Real Estate Capital LLC is an SEC-registered investment adviser based in Chicago, Illinois, with $67.9 billion in regulatory assets under management as of its Form ADV filed May 22, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 129th of 4,686 private fund advisers and 357th of 17,210 SEC-registered advisers by assets.
Main office 212-419-3000blueowl.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $68B
- Rank among private fund advisers
- #129 of 4,686
- Rank among all SEC RIAs
- #357 of 17,210
- Rank in Illinois
- #22 of 684
- Clients
- 91
- Accounts
- 91
- Discretionary
- 95% of AUM
- Employees
- 130
- Advisory staff
- 130
- Offices
- 10
Owners and executives on its Form ADV
- Marc N. ZahrPresident
- Karen N. HagerChief Compliance Officer
- Neena A. ReddyChief Legal Officer
- Alan J. KirshenbaumChief Financial Officer
- Andrew R. PollandChief Operating Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
Blue Owl Real Estate Capital LLC is a hybrid RIA: 3 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: Blue Owl Securities LLC.
- Blue Owl Securities LLC ↗CRD 283250
Its Form ADV brochure (filed March 2026) names Blue Owl Securities as the broker-dealer its advisers are registered with.
Blue Owl Securities shares office space with the Blue Owl Advisers and certain employees who perform services for the Blue Owl Advisers are also registered representatives of Blue Owl Securities.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 68 | $57B | 85% |
| Sovereign wealth funds and foreign official institutions | 9 | $7.0B | 10% |
| State or municipal government entities | 3 | $2.0B | 3% |
| Insurance companies | 5 | $765M | 1% |
| Other | 5 | $644M | <1% |
| Corporations or other businesses | 1 | $50M | <1% |
Private funds
Blue Owl Real Estate Capital LLC reports 54 private funds with $35B in gross assets: hedge funds, real estate funds, other private funds (Form ADV Item 7.B).
Disciplinary disclosures
Blue Owl Real Estate Capital LLC reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
How it’s paid
- A percentage of assets under management
- Performance-based fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗blueowl.com ↗
AtlasMembers
The full record on Blue Owl Real Estate Capital LLC
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 299 peers of its type and size
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- Owners and executives, with titles and stakes
- 5 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Blue Owl Real Estate Capital LLC manage?
Blue Owl Real Estate Capital LLC reports $67.9 billion in regulatory assets under management across 91 accounts, 95% of it on a discretionary basis, on its Form ADV filed May 22, 2026.
What kind of firm is Blue Owl Real Estate Capital LLC?
Blue Owl Real Estate Capital LLC is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets. A public reporting company controls it.
Who are Blue Owl Real Estate Capital LLC’s clients?
By assets, its largest client types are pooled investment vehicles ($57.4 billion, 68 clients); sovereign wealth funds and foreign official institutions ($7.0 billion, 9 clients); state or municipal government entities ($2.0 billion, 3 clients).
Does Blue Owl Real Estate Capital LLC manage private funds?
Yes. It reports 54 private funds with $35.5 billion in gross assets, including hedge funds, real estate funds, other private funds.
Does Blue Owl Real Estate Capital LLC have any disciplinary history?
Blue Owl Real Estate Capital LLC reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Where these numbers come from
Every figure is Blue Owl Real Estate Capital LLC’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-05-22), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →