Blue Owl Capital
| File:Blue Owl Capital Logo.svg | |
| Company type | Public |
|---|---|
| |
| Industry | Financial services |
| Founded | May 19, 2021[1][2] |
| Founders |
|
| Headquarters | 399 Park Avenue, New York City , United States |
| Products | |
| Revenue | Increase US$1.73 billion (2023) |
| Increase US$221 million (2023) | |
| AUM | Increase US$174.3 billion (2024) |
| Total assets | Decrease US$8.82 billion (2023) |
| Total equity | Decrease US$5.28 billion (2023) |
Number of employees | 725 (2024) |
| Website | blueowl |
| Footnotes / references Financials as of December 31, 2023[update].[3] | |
Blue Owl Capital Inc. is an American alternative investment asset management company that is listed on the New York Stock Exchange under the ticker symbol: "OWL". Headquartered in New York City, it has additional offices around the world, including London, Dubai, and Hong Kong.
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
[edit | edit source]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 combined with a special-purpose acquisition company, Altimar Acquisition Corp to form Blue Owl.[1][2][5]
In May 2021, the transaction was completed and Blue Owl was listed on the New York Stock Exchange.[1][2][6][7][8][9] 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]
In October 2021, Blue Owl acquired Oak Street, a private equity real estate firm for $950 million.[9][10][11][12][13] In December, it acquired Ascentium Group, a business development office based in Hong Kong.[14] This was done as part of its plans to expand in Asia.[14]
In October 2022, Bloomberg reported Blue Owl intended to expand the size of its offices in Greenwich, Connecticut and had opened an office in New Jersey.[15]
In July 2024, the firm entered into an agreement to purchase a private credit firm, Atalaya Capital Management.[16]
Business overview
[edit | edit source]Blue Owl has three business units:
GP Strategic Capital (formerly Dyal Capital)
[edit | edit source]Dyal Capital was formed in 2011 by Michael Rees and Sean Ward who were both formerly of Lehman Brothers.[2][17][18] Since inception, the firm has been part of Neuberger Berman which currently retains a stake in Blue Owl as a result of the merger.[2][17][18]
Dyal Capital provides financing to hedge funds and private equity firms by acquiring minority interests in them.[9][17][18] Firms it has acquired interests in include:
- Bridgepoint Group[19]
- Clearlake Capital[20]
- Energy Capital Partners
- Golub Capital[17]
- H.I.G. Capital[21]
- HPS Investment Partners
- ICONIQ Capital[22]
- JANA Partners LLC[17]
- KPS Capital Partners[21]
- MBK Partners[23]
- Providence Equity[17]
- Silver Lake[17][21]
- Sixth Street Partners[24]
- Starwood Capital Group[21]
- Stonepeak
- Waterfall Asset Management
- Vista Equity Partners[25]
In July 2021, Dyal Capital acquired minority stakes in the NBA teams, Phoenix Suns and Sacramento Kings.[26][27]
In March 2022, Blue Owl announced it planned to hold an IPO for Dyal Capital on the London Stock Exchange.[12]
In June 2023, Bloomberg reported that Dyal Capital would be renamed to Blue Owl GP Strategic Capital due to tensions among the co-founders where Rees was asked to resign. Dyal Capital came from the name of his children.[28]
Funds
[edit | edit source]| Fund[29] | Vintage Year | Committed Capital ($m) |
|---|---|---|
| Dyal Capital Partners | 2012 | USD 1,280 |
| Dyal Capital Partners II | 2014 | USD 837 |
| Dyal Capital Partners III | 2017 | USD 5,300 |
| Dyal Capital Partners IV | 2019 | USD 9,000 |
| Dyal Capital Partners V[30] | 2022 | USD 13,000 |
Real Estate (formerly Oak Street)
[edit | edit source]Oak Street was founded in 2009 by Marc Zahr and James Hennessey.[11][31][13]
Oak Street is a 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)
[edit | edit source]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]
The credit division is known as Blue Owl Capital Corporation, and is traded as its own ticker "OBDC" which began trading July 6, 2023.[35]
Financials
[edit | edit source]Financial trends for Blue Owl Capital Inc. are based on fiscal years ended December 31:[36]
| Year | Revenue (USD Billion) | Gross Profit (USD Billion) | Net Income (USD Billion) |
|---|---|---|---|
| 2018 | 0.121 | 0.062 | 0.002 |
| 2019 | 0.191 | 0.079 | 0.023 |
| 2020 | 0.250 | 0.009 | -0.082 |
| 2021 | 0.824 | -0.673 | -1.802 |
| 2022 | 1.370 | 0.475 | -0.040 |
| 2023 | 1.730 | 0.861 | 0.054 |
| 2024 | 2.300 | 1.020 | 0.110 |
References
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External links
[edit | edit source]- Official website
- Business data for Blue Owl Capital Inc.:
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- 2021 establishments in New York (state)
- 2021 initial public offerings
- Alternative investment management companies
- American companies established in 2021
- Companies listed on the New York Stock Exchange
- Financial services companies based in New York City
- Investment companies based in New York City
- Private equity firms of the United States
- Publicly traded companies based in New York City
- Asset management companies