NEW YORK, May 20, 2021 /PRNewswire/ -- Owl Rock Capital
Group and Dyal Capital Partners today announced the formation of
Blue Owl Capital Inc. (NYSE: OWL), a publicly traded alternative
asset management firm. Blue Owl is the result of the completion of
the business combination with Altimar Acquisition Corporation
(formerly NYSE: ATAC). The transaction was unanimously approved by
Altimar's Board of Directors and by Altimar's shareholders at an
extraordinary general meeting of Altimar shareholders on
May 18, 2021.
Blue Owl will offer public investors exposure to two of the
fastest growing segments in alternative asset management: direct
lending and GP capital solutions. As of March 31, 2021, the combined entity had
$52.5 billion in assets under
management, of which 91% is permanent capital. Blue Owl will
derive its distributable earnings from fee-related earnings, and as
a result, is expected to provide investors with enhanced earnings
visibility.
Blue Owl will be led by an experienced management team
consisting of Chief Executive Officer Doug
Ostrover, a co-founder of Owl Rock, Co-Presidents
Marc Lipschultz, a co-founder of Owl
Rock, and Michael Rees, founder of
Dyal, and Chief Financial Officer Alan
Kirshenbaum.
Doug Ostrover, CEO of Blue Owl,
said: "Today marks an important milestone in our mission to provide
public investors access to the fastest growing areas of private
markets and our clients with access to attractive private
investments to help them achieve their return objectives. We are
excited about the opportunity to deliver value for our shareholders
by continuing to grow our leadership position in the alternative
asset management industry."
Michael Rees, Co-President of
Blue Owl, commented: "As institutional investors continue to seek
out alternative sources of returns and yield, our strategies are
well positioned to help meet their objectives as well as those of
private investment managers. We look forward to continuing to be a
partner of choice for participants across the institutional and
alternative investing ecosystems and supporting private market
firms as they continue to drive growth across their portfolios and
the broader economy."
Marc Lipschultz, Co-President of
Blue Owl, added: "We are excited to bring Blue Owl to the public
markets and offer investors differentiated exposure to direct
lending and GP capital solutions, supported by a financial profile
that can offer enhanced earnings stability."
About Blue Owl
Blue Owl Capital is an alternative
asset manager that provides investors access to direct lending and
GP capital solutions strategies through a variety of vehicles. The
firm's breadth of offerings and permanent capital base enables it
to offer a differentiated, holistic platform of capital solutions
to participants throughout the private market ecosystem, including
alternative asset managers and private middle market corporations.
The firm had approximately $52.5
billion of assets under management as of March 31, 2021. Blue Owl's management team is
comprised of seasoned investment professionals with more than 25
years of experience building alternative investment businesses.
Blue Owl has approximately 250 employees across its Dyal Capital
Partners and Owl Rock Capital divisions and has six offices
globally. For more information, please visit us at
www.blueowl.com.
Certain statements made in this release are "forward looking
statements" within the meaning of the "safe harbor" provisions of
the United States Private Securities Litigation Reform Act of 1995.
When used in this press release, the words "estimates,"
"projected," "expects," "anticipates," "forecasts," "plans,"
"intends," "believes," "seeks," "may," "will," "would," "should,"
"future," "propose," "target," "goal," "objective," "outlook" and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside Blue Owl's control, that could
cause actual results or outcomes to differ materially from those
discussed in the forward-looking statements.
Important factors, among others, that may affect actual results
or outcomes include the inability to recognize the anticipated
benefits of the business combination; costs related to the business
combination; the inability to maintain the listing of Blue Owl's
shares on the New York Stock Exchange ("NYSE"); Blue Owl's ability
to manage growth; Blue Owl's ability to execute its business plan
and meet its projections; potential litigation involving Blue Owl;
changes in applicable laws or regulations; the possibility that
Blue Owl may be adversely affected by other economic, business,
and/or competitive factors; and the impact of the continuing
COVID-19 pandemic on Blue Owl's business.
Media Contacts
Prosek Partners
David Wells / Josh Clarkson
dwells@prosek.com / jclarkson@prosek.com
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SOURCE Blue Owl Capital