Blue Owl Capital
American alternative asset management firm From Wikipedia, the free encyclopedia
Blue Owl Capital Inc. is an American alternative investment asset management company. It is listed on the New York Stock Exchange under the ticker symbol: "OWL".
 | |
| Company type | Public |
|---|---|
| |
| Industry | Financial services |
| Founded | May 19, 2021[1][2] |
| Founders |
|
| Headquarters | 399 Park Avenue, New York City , United States |
| Products | |
| Revenue | US$1.73 billion (2023) |
| US$221 million (2023) | |
| AUM | US$174.3 billion (2024) |
| Total assets | US$8.82 billion (2023) |
| Total equity | US$5.28 billion (2023) |
Number of employees | 725 (2024) |
| Website | blueowl |
| Footnotes / references Financials as of December 31, 2023[update].[3] | |
The company is headquartered in New York City with additional offices around the world, including London, Dubai, and Hong Kong, among other major cities.
In June 2024, Blue Owl Capital ranked 26th in Private Equity International's PEI 300 ranking among the world's largest private equity firms.[4]
History
In December 2020, it was announced there would be a merger between Owl Rock Capital Group and Dyal Capital Partners.[1][2] The two firms would combine with a special-purpose acquisition company, Altimar Acquisition Corp to form Blue Owl.[1][2][5] The deal was valued at $12.2 billion which included a $1.5 billion commitment from investors such as ICONIQ Capital, Federated Hermes and Liberty Mutual.[1][2]
On May 19, 2021, the transaction was completed and Blue Owl was listed on the New York Stock Exchange.[1][2][6][7][8][9]
On October 18, 2021, Blue Owl acquired Oak Street, a private equity real estate firm for $950 million.[9][10][11][12][13]
On December 13, 2021, Blue Owl acquired Ascentium Group, a business development office based in Hong Kong.[14] This was done as part of its plans to expand in Asia.[14]
In October 2022, Bloomberg reported Blue Owl intended to expand the size of its offices in Greenwich, Connecticut and had opened an office in New Jersey.[15]
The company entered into an agreement to purchase a private credit firm, Atalaya Capital Management, in July 2024.[16]
Business overview
Summarize
Perspective
Blue Owl has three business units:
GP Strategic Capital (formerly Dyal Capital)
Dyal Capital was formed in 2011 by Michael Rees and Sean Ward who were both formerly of Lehman Brothers.[2][17][18] Since inception, the firm has been part of Neuberger Berman which currently retains a stake in Blue Owl as a result of the merger.[2][17][18]
Dyal Capital provides financing to hedge funds and private equity firms by acquiring minority interests in them.[9][17][18] Firms it has acquired interests in include:
- Bridgepoint Group[19]
- Clearlake Capital[20]
- Energy Capital Partners
- Golub Capital[17]
- H.I.G. Capital[21]
- HPS Investment Partners
- ICONIQ Capital[22]
- JANA Partners LLC[17]
- KPS Capital Partners[21]
- MBK Partners[23]
- Providence Equity[17]
- Silver Lake[17][21]
- Sixth Street Partners[24]
- Starwood Capital Group[21]
- Stonepeak
- Waterfall Asset Management
- Vista Equity Partners[25]
In July 2021, Dyal Capital acquired minority stakes in the NBA teams, Phoenix Suns and Sacramento Kings.[26][27]
In March 2022, Blue Owl announced it planned to hold an IPO for Dyal Capital on the London Stock Exchange.[12]
In June 2023, Bloomberg reported that Dyal Capital would be renamed to Blue Owl GP Strategic Capital due to tensions among the co-founders where Rees was asked to resign. Dyal Capital came from the name of his children.[28]
Funds
Real Estate (formerly Oak Street)
Oak Street was founded in 2009 by Marc Zahr and James Hennessey.[11][31][13]
Oak street is private equity real estate firm based in Chicago that focuses on structuring sale-leasebacks.[9][31][13]
In August 2021, Oak Street acquired The Bow in Calgary for $1.2 billion.[32] In September 2022, Oak Street and GIC agreed to acquire Store Capital for $14 Billion.[33]
Credit (formerly Owl Rock)
Owl Rock was founded in 2016 by Doug Ostrover (co-founder of GSO Capital Partners), Marc Lipschultz (former KKR partner) and Craig Packer (formerly of Goldman Sachs).[2][34]
The firm is a middle market private credit direct lending firm that deals with credit investments.[2][34][9] Its clients include George Soros, Brown University and the state of South Carolina.[34]
References
External links
Wikiwand - on
Seamless Wikipedia browsing. On steroids.