Blue Owl Capital on track to end week in red as sentiment weakens

Alternative asset manager Blue Owl Capital's OWL.N shares fall 4.6% to $11.05 premarket

Stock slid 5.9% on Thursday as the firm's strategy to return capital from a small debt fund spooked some investors

OWL said late Thursday it was not halting investor liquidity in a non-traded debt fund Blue Owl Capital Corp II after a move to replace quarterly redemption opportunities with payouts weighed on its shares

"There are a few headlines that we think are a complete mischaracterization of what's happening here. We aren't halting redemptions," Blue Owl co-President Craig Packer told analysts

Some analysts also questioned Thursday's stock plunge, saying press headlines were "misleading"

As of last close, OWL stock down 22.5% YTD