Blue Owl Capital (also known as Blue Owl) is an American

alternative investment An alternative investment, also known as an alternative asset or alternative investment fund (AIF), is an investment in any asset class excluding stocks, bonds, and cash. The term is a relatively loose one and includes tangible assets such as ...

asset management firm. It is currently listed on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

under the ticker symbol: "OWL". The firm is headquartered in New York City with additional offices in Hong Kong, Singapore, and elsewhere.

History

In December 2020, it was announced there would be a merger between Owl Rock Capital Group and Dyal Capital Partners. The two firms would combine with a

special-purpose acquisition company A special purpose acquisition company (SPAC; ), also known as a "blank check company", is a shell corporation listed on a stock exchange with the purpose of acquiring a private company, thus making it public without going through the traditional i ...

, Altimar Acquisition Corp to form Blue Owl. The deal was valued at $12.2 billion which included a $1.5 billion commitment from investors such as ICONIQ Capital,

Federated Hermes Federated Hermes is an investment manager headquartered in Pittsburgh, Pennsylvania, United States. Founded in 1955 and incorporated on October 18, 1957, the company manages $624 billion of customer assets, as of Sept. 30, 2022. The company offe ...

and

Liberty Mutual Liberty Mutual Group is an American diversified global insurer and the sixth-largest property and casualty insurer in the United States. It ranks 71st on the Fortune 100 list of largest corporations in the United States based on 2020 revenue. Ba ...

. On May 19, 2021, the transaction was completed and Blue Owl was listed on the New York Stock Exchange. On October 18, 2021, Blue Owl acquired Oak Street, a

private equity real estate Private equity real estate is a term used in investment finance to refer to a specific subset of the real estate investment asset class. Private equity real estate refers to one of the four quadrants of the real estate capital markets, which incl ...

firm for $950 million. On December 13, 2021, Blue Owl acquired Ascentium Group, a business development office based in

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

. This was done as part of its plans to expand in Asia. In March 2022, Blue Owl announced it planned to hold an IPO for Dyal Capital on the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

. In October 2022, Bloomberg reported Blue Owl intended to expand the size of its offices in

Greenwich, Connecticut Greenwich (, ) is a New England town, town in southwestern Fairfield County, Connecticut, United States. At the 2020 United States Census, 2020 census, the town had a total population of 63,518. The largest town on Connecticut's Gold Coast (Conne ...

and had opened an office in New Jersey.

Business overview

Blue Owl has three business units: Dyal Capital, Oak Street and Owl Rock.

Dyal Capital

Dyal Capital was formed in 2011 by Michael Rees and Sean Ward who were both formerly of

Lehman Brothers Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before Bankruptcy of Lehman Brothers, filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Gol ...

. Since inception, the firm has been part of

Neuberger Berman Neuberger Berman Group LLC is a private, independent, employee-owned investment management firm. The firm manages equities, fixed income, private equity and hedge fund portfolios for global institutional investors, advisors and high-net-worth in ...

which currently retains a stake in Blue Owl as a result of the merger. Dyal Capital provides financing to

hedge fund A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as sho ...

s and

private equity firms A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of startup or operating companies through a variety of loosely affiliated investment strategies including leve ...

by acquiring

minority interest In accounting, minority interest (or non-controlling interest) is the portion of a subsidiary corporation's stock that is not owned by the parent corporation. The magnitude of the minority interest in the subsidiary company is generally less than 5 ...

s in them. Firms it has acquired interests in include: *

Bridgepoint Group Bridgepoint Group plc is a British private investment company listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. History Bridgepoint was founded as NatWest Equity Partners, a private equity firm part of NatWest. T ...

Golub Capital Golub Capital is a credit Asset management, asset manager based in the United States with over $40 billion of capital under management. The firm has primary business lines in Middle-market company, middle market lending, late stage lending, and ...

H.I.G. Capital H.I.G. Capital is a Miami, Florida–based private equity and alternative assets investment firm with $53 billion of equity capital under management. The firm operates a family of private equity, growth equity, credit/special situation, primary ...

* ICONIQ Capital *

JANA Partners LLC JANA Partners LLC ("JANA" or "JANA Partners") is an investment manager specializing in event-driven investing. It was founded in 2001 by Barry Rosenstein. JANA engages in traditional shareholder activism and socially responsible investing. His ...

KPS Capital Partners KPS Capital Partners is an American investment company that manages KPS Special Situation Funds, a family of investment funds. KPS specifically invests out of two funds raised in October 2019: KPS Special Situations Fund V ($6.12 billion) and KPS ...

MBK Partners MBK Partners (MBKP) is a North Asian focused private equity firm. According to Forbes, MBK Partners is one of the largest private equity firms in Asia, managing $25 billion worth of assets. Overview MBK Partners was founded in 2005 by Michael ...

Providence Equity Providence Equity Partners L.L.C. is a specialist private equity firm, private equity investment firm focused on media, communications, education, technology investments across North America and Europe. The firm specializes in growth-oriented pri ...

Silver Lake Silver is a chemical element with the Symbol (chemistry), symbol Ag (from the Latin ', derived from the Proto-Indo-European wikt:Reconstruction:Proto-Indo-European/h₂erǵ-, ''h₂erǵ'': "shiny" or "white") and atomic number 47. A soft, whi ...

Sixth Street Partners Sixth Street (formerly known as TSSP) is a global investment firm with $60 billion in assets under management. The firm operates nine investment platforms across its growth investing, adjacencies, direct lending, fundamental public strategies, i ...

Starwood Capital Group Starwood Capital Group is an investment firm headquartered in Miami Beach, Florida. It is managed by Barry Sternlicht. It was co-founded by Sternlicht and Robert Faith in 1991. In 1993, Faith left Starwood to found Greystar Real Estate Partners ...

Vista Equity Partners Vista Equity Partners is an American investment firm focused on financing and forwarding software, data, and technology-enabled startup businesses. Vista has invested in hundreds of companies, including Misys, Ping Identity, and Marketo. The co ...

In July 2021, Dyal Capital acquired minority stakes in the

NBA The National Basketball Association (NBA) is a professional basketball league in North America. The league is composed of 30 teams (29 in the United States and 1 in Canada) and is one of the major professional sports leagues in the United St ...

teams,

Phoenix Suns The Phoenix Suns are an American professional basketball team based in Phoenix, Arizona. They compete in the National Basketball Association (NBA), as a member of the league's Western Conference Pacific Division. The Suns are the only team in t ...

and

Sacramento Kings The Sacramento Kings are an American professional basketball team based in Sacramento, California. The Kings compete in the National Basketball Association (NBA) as a member of the Western Conference Pacific Division. The Kings are the oldest ...

Funds

Oak Street

Oak Street was founded in 2009 by Marc Zahr and James Hennessey. Oak street is private equity real estate firm based in Chicago that focuses on structuring sale-

leaseback Leaseback, short for "sale-and-leaseback", is a financial transaction in which one sells an asset and leases it back for the long term; therefore, one continues to be able to use the asset but no longer owns it. The transaction is generally done f ...

s. In August 2021, Oak Street acquired The Bow in

Calgary Calgary ( ) is the largest city in the western Canadian province of Alberta and the largest metro area of the three Prairie Provinces. As of 2021, the city proper had a population of 1,306,784 and a metropolitan population of 1,481,806, makin ...

for $1.2 billion.

Owl Rock

Owl Rock was founded in 2016 by Doug Ostrover (co-founder of

GSO Capital Partners Blackstone Credit, formerly known as GSO Capital Partners is an American hedge fund and the credit investment arm of The Blackstone Group. GSO is one of the largest credit-oriented alternative asset managers in the world and a major participant ...

), Marc Lipschultz (former

KKR KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strateg ...

partner) and Craig Packer (formerly of

Goldman Sachs Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...

). The firm is a middle market

Private credit Private credit is an asset defined by non-bank lending where the debt is not issued or traded on the public markets. ''Private credit'' can also be referred to as "direct lending" or " private lending". It is a subset of "alternative credit". T ...

direct lending Direct Lending is a form of corporate debt provision in which lenders other than banks make loans to companies without intermediaries such as an investment bank, a broker or a private equity firm. In direct lending, the borrowers are usually smalle ...

firm that deals with credit investments. Its clients include

George Soros George Soros ( name written in eastern order), (born György Schwartz, August 12, 1930) is a Hungarian-American businessman and philanthropist. , he had a net worth of US$8.6 billion, Note that this site is updated daily. having donated mo ...

Brown University Brown University is a private research university in Providence, Rhode Island. Brown is the seventh-oldest institution of higher education in the United States, founded in 1764 as the College in the English Colony of Rhode Island and Providenc ...

and the state of

South Carolina )''Animis opibusque parati'' ( for, , Latin, Prepared in mind and resources, links=no) , anthem = " Carolina";" South Carolina On My Mind" , Former = Province of South Carolina , seat = Columbia , LargestCity = Charleston , LargestMetro = ...

References

External links

* {{authority control 2020 establishments in New York (state) American companies established in 2020 Companies listed on the New York Stock Exchange Financial services companies based in New York City Financial services companies established in 2020 Investment companies based in New York City Private equity firms of the United States 2021 initial public offerings Publicly traded companies based in New York City