Investing.com -- Blue Owl Capital (NYSE: OWL) shares fell 9% Thursday after the company limited redemptions from two of its private credit funds.

Blue Owl Credit Income Corp. (OCIC) received redemption requests totaling 21.9% of outstanding shares during the quarter, while Owl Technology Income Corp. (OTIC) received tender requests totaling 40.7% of outstanding shares, according to shareholder letters from the business development companies.

Both funds will fulfill their maximum quarterly repurchase limit of 5% on a pro rata basis. OCIC’s $988 million tender offer, combined with $872 million in gross capital inflows, resulted in net outflows of $116 million, or less than 1% of the company’s net asset value as of December 31, 2025. OTIC’s tender offer totaled $179 million, with gross capital inflows of $127 million, resulting in net outflows of $52 million, less than 2% of its approximately $3 billion net asset value.

Approximately 90% of OCIC’s 90,000 shareholders elected not to tender their shares, while 1% of shareholders represented the majority of redemption requests. OTIC management attributed the elevated tender activity to negative sentiment toward the non-traded business development company sector and concerns about AI-related disruption to software companies.

As of February 28, 2026, OCIC maintained $11.3 billion in liquidity across cash, undrawn debt facilities and liquid Level 2 assets, with net leverage of 0.80x debt-to-equity. OTIC maintained liquidity of over $1.3 billion with net leverage of 0.82x debt-to-equity.

OCIC’s portfolio totaled $36 billion in fair value as of December 31, 2025, diversified across 370 companies and 31 industries. OTIC’s portfolio had a fair value of $6.2 billion, diversified across 190 companies and 41 end markets.