Owl Rock hires two ex-Goldman Sachs executives

  • Jean Joseph was at Goldman from 2006 to 2018
  • Scott Turco worked at Goldman since 2013
  • Firm has been raising debut BDC

Owl Rock Capital Partners, launched by executives from GSO Capital and KKR, recently brought on two former Goldman Sachs executives, a spokeswoman for the firm confirmed for Buyouts.

Jean Joseph, a former managing director at Goldman, joined Owl Rock in March. Scott Turco, former head of sourcing at Goldman Sachs Asset Management Private Credit Group, joined in April. Both joined as managing directors.

Turco started with Goldman in 2013, prior to which he was a director at THL Credit from 2008 to 2013. Previously, he was an analyst at Gabelli Asset Management and an associate at Bear Stearns.

Joseph worked at Goldman from 2006 to 2018, prior to which he was an associate at Wells Fargo Securities from 2003 to 2006. He also worked at Atherton Capital and GE Capital, his LinkedIn profile shows.

Joseph is not yet listed on the firm’s website. Turco is a member of Owl Rock’s originations team.

Owl Rock has been raising its debut business-development company, Owl Rock Capital Corp. The firm had been targeting $3 billion to $5 billion; in August a source told Buyouts that the firm expected to raise $5 billion by the fourth quarter. It’s unclear whether the fund is still in the market.

The firm lends to middle-market companies, mostly in the U.S. The BDC will invest in senior secured or unsecured loans, subordinated loans and mezzanine loans and, to a lesser extent, equity-related securities and warrants, an SEC filing showed. The firm’s typical credit investment will have maturities of three to 10 years.

Owl Rock was formed by GSO Capital Founder Douglas Ostrover and KKR’s former global head of energy and infrastructure, Marc Lipschultz. Other Owl Rock executives include Craig Packer, former co-head of leveraged finance in the Americas at Goldman, who is now CEO of Owl Rock Capital; and Alan Kirshenbaum, COO and CFO.

Action Item: Check out Owl Rock’s Form ADV here: https://bit.ly/2K0gbso

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