- Blue Owl is an asset manager based in New York
- The firm manages $157 billion in assets
- Lunate has $105 billion of assets under management
Blue Owl Capital and Lunate will form a joint venture (JV) to provide growth capital to mid-sized private capital GPs.
The joint venture will seek to acquire minority stakes in private market investment managers with fee-paying assets under management of less than $10 billion.
The JV will target GPs with a clear sector specialisation, differentiated approach, strong leadership and culture, and an established foundation of a stable platform with identifiable key drivers of franchise value, according to a release.
“They [Lunate] bring valuable investment experience as both an LP and minority GP stake investor,” said Michael Rees, co-president of Blue Owl. “We think the combined effort will be truly differentiated for mid-sized GPs and be complementary to our existing strategy focused on larger managers.”
Blue Owl is an asset manager based in New York. It manages $157 billion in assets and invests across credit, GP strategic capital and real estate.
Lunate is an Abu Dhabi-based, partner-led independent global alternative investment manager with $105 billion of assets under management. It invests across the entire private markets spectrum including buyouts, growth equity, early and late-stage venture capital, private credit, real assets, and public equities and public credit.