‘Impact on NGI is zero’: Navigator seeks to quieten Blue Owl noise
Revenue at the GP-staking business is soaring, but its CEO is busy reassuring the market that jitters over its largest shareholder, New York private credit giant Blue Owl, are irrelevant.
Navigator Global Investments chief executive Stephen Darke would rather be talking about the alternative asset manager’s “very good” first-half. Instead he spent the first five minutes of every investor meeting on Monday focused on major shareholder Blue Owl.
The New York alternatives giant — which owns just shy of half of Navigator — attracted intense media attention over the weekend after gating redemptions to one of its legacy private credit funds, triggering a knee-jerk selloff and market jitters.
“I’ve spent today making sure that I’m not defending them. I’m just indicating that its impact on NGI is zero,” Darke told Capital Brief.
Yet as Navigator shares fell 7.2% on Monday, Darke said it was obvious the ASX-listed company was feeling the fallout regardless as private credit “noise” played out.
