The company is headquartered in New York City with additional offices around the world, including London, Dubai, and Hong Kong, among other major cities.
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]