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Exhibit 99.1 Owl Rock Capital Corp. Reports First Quarter Net Investment Income Per Share of $ 0.26 and NAV Per Share of $ 14.82 NEW YORK - May 5 , 2021- Owl Rock Capital Corporation ( NYSE : ORCC , or the " Company " ) today reported net investment income of $ 102.7 million , or $ 0.26 per share , and net income of $ 157.8 million , or $ 0.40 per share , for the first quarter ended March 31 , 2021. Reported net asset value per share was $ 14.82 at March 31 , 2021 as compared to $ 14.74 at December 31 , 2020. The fee waiver put in place in conjunction with the Company's IPO expired on October 18 , 2020 and as a result , the first quarter results reflect the impact of the full fee structure for the full quarter . Craig W. Packer , Chief Executive Officer of Owl Rock Capital Corporation commented , “ We are very pleased with how well our portfolio continues to perform and the compelling investments we were able to make this quarter . With our proven investment team , strong balance sheet and significant liquidity , we believe ORCC is well positioned to take advantage of the improving economic conditions and an attractive investment environment . " The Company's Board of Directors has declared a second quarter 2021 dividend of $ 0.31 per share for stockholders of record as of June 30 , 2021 , payable on or before August 13 , 2021 . PORTFOLIO AND INVESTING ACTIVITY For the three months ended March 31 , 2021 , new investment commitments totaled $ 863.5 million across 8 new portfolio companies and 11 existing portfolio companies . This compares to $ 1,527.4 million for the three months ended December 31 , 2020 across 12 new portfolio companies and 14 existing portfolio companies . For the three months ended March 31 , 2021 , the principal amount of new investments funded was $ 684.4 million . For this period , the Company had $ 512.2 million aggregate principal amount in exits and repayments . For the three months ended December 31 , 2020 , the principal amount of new investments funded was $ 1,274.9 million . For this period , the Company had $ 520.3 million aggregate principal amount in exits and repayments . As of March 31 , 2021 and December 31 , 2020 , the Company had investments in 120 and 119 portfolio companies with an aggregate fair value of $ 11.2 billion and $ 10.8 billion , respectively . As of March 31 , 2021 , the average investment size in each portfolio company was $ 93.7 million based on fair value . As of March 31 , 2021 , based on fair value , our portfolio consisted of 77.8 % first lien senior secured debt investments , 16.0 % second lien senior secured debt investments , 1.7 % unsecured notes , 1.0 % investment funds and vehicles , and 3.5 % equity investments . As of December 31 , 2020 , based on fair value , our portfolio consisted of 77.5 % first lien senior secured debt investments , 18.5 % second lien senior secured debt investments , 0.5 % unsecured notes , 1.0 % investment funds and vehicles , and 2.5 % equity investments . As of March 31 , 2021 and December 31 , 2020 , approximately 93.8 % and 96.0 % of the portfolio was invested in secured debt , respectively . As of March 31 , 2021 , 99.9 % of our debt investments based on fair value in our portfolio were at floating rates . As of March 31 , 2021 and December 31 , 2020 , the weighted average total yield of accruing debt and income producing securities at fair value ( which includes interest income and amortization of fees and discounts ) remained at 8.3 % and the weighted average total yield of accruing debt and income - producing securities at amortized cost ( which includes interest income and amortization of fees and discounts ) remained at 8.2 % . As of March 31 , 2021 , 1 investment with an aggregate fair value of $ 25.2 million was on non - accrual status , representing 0.2 % of the total fair value of the debt portfolio .