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UBS advised certain clients to trim oversized private credit positions, prompting investor withdrawals from Blue Owl Technology Income during the fourth quarter of 2025, according to a Financial Times report published on Friday.

The publication, citing two people familiar with the matter, said that at least 60% of the fund's capital had been provided by UBS clients in Asia.

The Financial Times reported that UBS encouraged clients with elevated exposure to private credit investments to rebalance their portfolios, leading to outflows from the Blue Owl Technology Income fund.

UBS declined to comment on the matter when contacted by the Financial Times.

Responding to the report, a spokesperson for Blue Owl (NYSE:OWL) said the fund's underlying credit quality has remained resilient.

According to the company, the portfolio recorded a non-accrual rate of just 0.2%, supporting a stable distribution yield of 9.2%.

The comments were intended to underline the fund's continued performance despite the client withdrawals linked to portfolio rebalancing rather than deterioration in credit fundamentals.

Blue Owl Capital stock price