Dyal Capital SLP LP 4

What Happened
Dyal Capital SLP LP, reported as a 10% owner of Blue Owl Capital Inc. (OWL), effected non‑market dispositions on 2026-06-01: it transferred 1,150,000 Class D common shares of the issuer and an equal number (1,150,000) of Blue Owl Operating Group Units to certain limited partners (the "Dyal Partners") for no consideration. The filing shows these as "other acquisition or disposition (J)" with no price reported. One entry reflects the Class D share transfer and the other reflects the related operating‑unit (derivative) transfer. These were internal/no‑cash transfers—not open‑market sales.

Key Details

• Transaction date: 2026-06-01; filing date: 2026-06-01 (not shown as late).
• Shares/units transferred: 1,150,000 Class D shares and 1,150,000 Blue Owl Operating Group Units.
• Price: N/A — transfers were for no consideration (gifts/internal allocation).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: Transfers were made to certain limited partners (including named individuals) who expressly disclaim beneficial ownership except to the extent of pecuniary interest. The operating units may be exchanged for newly issued Class B shares (one-for-one upon cancellation of equal Class D shares) or, at the exchange committee’s election, a cash payment tied to a 5‑day VWAP of Class A shares. Operating units do not expire.
• Transaction type: institutional/internal disposition (code J), not an executive open‑market sale.

Context

• This was an internal/non‑cash redistribution by a large institutional holder to partners, so it does not carry the same market‑sentiment implication as an executive selling shares in the open market.
• The operating units are derivative-like economic interests that can be converted into Class B shares or cash per the exchange agreement; that exchange process, not this transfer, determines future public share issuance.