Co-Founder, President & Co-Chief Investment Officer
Owl Rock Capital Partners
The strange nature of the recession may mean PE managers are unwilling to pull the plug, as activity is likely to resume after the shutdown. “There is a problematic gap,” says Marc Lipschultz, co-founder of Owl Rock, a private-credit fund. “We don’t know how deep or how wide it is, but funds need to find a bridge across.” And if PE-run firms cannot raise more debt, default or restructure their borrowings, the remaining option is an “equity cure”: PE shops stump up the cash to keep their firms afloat. Already around 70% of PE bosses polled by EY say they will need to inject fresh equity into their portfolio companies.
Douglas Ostrover, Marc Lipschultz and Craig Packer, Co-Founders of Owl Rock Capital Partners, said: "We are thrilled to have two such talented, experienced and committed professionals leading our opportunistic investing efforts...We look forward to working closely with them both as they drive this key area for Owl Rock."