Blue Owl Credit Income Corp. is an externally managed business development company that seeks to generate current income and capital appreciation by targeting investment opportunities with favorable risk-adjusted returns. The fund focuses primarily on originating and making loans to U.S. middle-market companies, both sponsored and non-sponsored, through direct originations of senior secured loans, subordinated loans, mezzanine loans, and broadly syndicated loans. The fund generally invests in upper middle-market companies with a low loan-to-value ratio and structures larger transactions that comprise 1-2% of the portfolio. As of June 30, 2025, the portfolio consisted of 88.6% first lien senior secured debt (of which 38.4% are unitranche loans), 4.7% second-lien debt, 1.4% unsecured debt, 1.0% joint ventures, 1.5% preferred equity, and 2.8% common equity across 357 portfolio companies with $32.00 billion in aggregate fair value.