<p>蓝猫资本在纽约证券交易所，2021 年 5 月 20 日。</p>
<p>来源：纽约证券交易所</p>
<p>根据知情人士的说法，蓝猫决定取消其两个私募信贷基金的合并，因为该交易引起了投资者的一些担忧。</p>
<p>该公司原计划将其较小的非交易性蓝猫资本公司 II（OBDC II）与较大的上市基金蓝猫资本公司（OBDC）合并。在此过程中，该公司限制了 17 亿美元的 OBDC II 投资者在交易完成之前的赎回，尽管合并意味着基于 171 亿美元的 OBDC 交易价格约 20% 的账面损失。</p>
<p>限制赎回的消息导致母公司蓝猫资本的股价在周一下跌约 6%。这也加剧了投资者对私募信贷行业状况的担忧，尤其是那些开始大量融资 AI 数据中心建设的领域，许多人担心这一领域被过度炒作。蓝猫的股价在周二略有反弹。</p>
<p>根据知情人士的说法，两家公司的董事会认为合并基金的好处无法抵消因交易消息带来的波动性和负面新闻。因此，他们选择了逆转决定。</p>
<p>现在基金合并已被终止，OBDC II 将允许投资者在第一季度赎回，知情人士表示，他们要求不透露讨论非公开信息的姓名。该基金历史上允许季度流动性。</p>
<p>他们计划尽快在今天宣布交易的终止，知情人士表示。</p>
<p>周三，蓝猫的股价在盘前交易中上涨了 3%。</p>

OBDC

<p>Blue Owl Capital 已取消其私人信贷基金 OBDC II 和 OBDC 的合并，原因是投资者的担忧和股票波动。此次合并将限制赎回并导致账面损失。取消合并的决定使 OBDC II 的投资者能够在第一季度进行赎回。Blue Owl 的股票在最初下跌后，在公告发布后略有反弹</p>

<p>Blue Owl Capital at the New York Stock Exchange, May 20, 2021.</p>
<div class="lb-trans"><p>蓝猫资本在纽约证券交易所，2021 年 5 月 20 日。</p>
</div><p>Source: NYSE</p>
<div class="lb-trans"><p>来源：纽约证券交易所</p>
</div><p>Blue Owl has decided to call off the merging of two of its private-credit funds after the deal caused some angst among investors, according to people familiar with the matter.</p>
<div class="lb-trans"><p>根据知情人士的说法，蓝猫决定取消其两个私募信贷基金的合并，因为该交易引起了投资者的一些担忧。</p>
</div><p>The firm had planned to merge its smaller, non-traded Blue Owl Capital Corporation II (OBDC II), into the larger, publicly traded fund Blue Owl Capital Corporation (OBDC). In doing so, the firm restricted investors in the $1.7 billion OBDC II from redeeming until the deal closed, even as the merger would have meant about 20% paper losses, based on where the $17.1 billion OBDC has been trading.</p>
<div class="lb-trans"><p>该公司原计划将其较小的非交易性蓝猫资本公司 II（OBDC II）与较大的上市基金蓝猫资本公司（OBDC）合并。在此过程中，该公司限制了 17 亿美元的 OBDC II 投资者在交易完成之前的赎回，尽管合并意味着基于 171 亿美元的 OBDC 交易价格约 20% 的账面损失。</p>
</div><p>News of the restricted redemptions caused shares of the parent company – Blue Owl Capital to slump about 6% on Monday. It also added to concerns about the state of the private credit industry among investors, especially the area that has started to heavily finance the AI datacenter buildout that many fear is overhyped. Blue Owl shares rebounded slightly on Tuesday.</p>
<div class="lb-trans"><p>限制赎回的消息导致母公司蓝猫资本的股价在周一下跌约 6%。这也加剧了投资者对私募信贷行业状况的担忧，尤其是那些开始大量融资 AI 数据中心建设的领域，许多人担心这一领域被过度炒作。蓝猫的股价在周二略有反弹。</p>
</div><p>The boards of the two firms did not see the benefits of merging the funds as outweighing the volatility and negative headlines that came from news of the deal, according to the people. Therefore, they chose to reverse course, sources said.</p>
<div class="lb-trans"><p>根据知情人士的说法，两家公司的董事会认为合并基金的好处无法抵消因交易消息带来的波动性和负面新闻。因此，他们选择了逆转决定。</p>
</div><p>Now that the fund merger has been terminated, OBDC II will allow investors to redeem in the first quarter, said the people, who asked not to be named discussing non-public information. The fund historically has allowed liquidity on a quarterly basis.</p>
<div class="lb-trans"><p>现在基金合并已被终止，OBDC II 将允许投资者在第一季度赎回，知情人士表示，他们要求不透露讨论非公开信息的姓名。该基金历史上允许季度流动性。</p>
</div><p>They plan to announce the thwarting of the deal as soon as today, the people said.</p>
<div class="lb-trans"><p>他们计划尽快在今天宣布交易的终止，知情人士表示。</p>
</div><p>Blue Owl shares jumped 3% in premarket trading Wednesday.</p>
<div class="lb-trans"><p>周三，蓝猫的股价在盘前交易中上涨了 3%。</p>
</div>

据消息人士透露，Blue Owl 取消了其两个私募信贷基金的合并计划，此前该消息曾引发股价震荡