The company 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.[1][2] The two firms would combine with a
special-purpose acquisition company, Altimar Acquisition Corp to form Blue Owl.[1][2][8] 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][4][5][6][7]
On December 13, 2021, Blue Owl acquired Ascentium Group, a business development office based in
Hong Kong.[13] This was done as part of its plans to expand in Asia.[13]
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.[14]
Business overview
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][15][16] 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][15][16]
In March 2022, Blue Owl announced it planned to hold an IPO for Dyal Capital on the
London Stock Exchange.[11]
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.[26]
Oak Street was founded in 2009 by Marc Zahr and James Hennessey.[10][29][12]
Oak street is private equity real estate firm based in Chicago that focuses on structuring sale-
leasebacks.[7][29][12]
In August 2021, Oak Street acquired
The Bow in
Calgary for $1.2 billion.[30] In September 2022, Oak Street and
GIC agreed to acquire
Store Capital for $14 Billion.[31]
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][32]