Two publicly traded Blue Owl funds reported declines in net asset values in the second quarter.

Blue Owl Capital Corp., Blue Owl's flagship private-credit fund, on Wednesday reported net assets of $7.03 billion, down from $7.68 billion a year earlier. Net asset value per share fell to $14.26 from $15.03. The decline was driven by markdowns on a small group of names, the company said.

Net investment income per share fell to 36 cents from 42 cents a year prior. On an adjusted basis, net investment income was 34 cents a share, beating the 32 cents analysts were expecting, according to FactSet.

Total investments at fair value were $14.96 billion, down from $16.87 billion a year prior.

"We are pleased with OBDC's performance this quarter, generating strong earnings resulting in a 9.6% annualized return on adjusted net investment income and healthy dividend coverage," Blue Owl's Craig Packer said. "Portfolio company operating trends remained stable, and credit performance continued to track in line with expectations."

The fund said it would pay out a second-quarter supplemented dividend of 2 cents a share by Sept. 15 to shareholders of record as of Aug. 31.

Another publicly traded Blue Owl fund, Blue Owl Technology Finance Corp., reported $7.54 billion in net assets, down from $7.99 billion a year prior. Net assets per share fell to $16.48 from $17.17.

Net investment income fell to 30 cents a share from 34 cents a share. On an adjusted basis, net investment income was 30 cents a share, in line with analyst expectations.

The fund's total investments at fair value were $14.68 billion, up from $12.73 billion a year earlier.