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Blue Owl Capital Closes USD 950m Acquisition of Oak Street Real Estate Capital.

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MANews-(C)2009-2022

New York-based alternative asset manager Blue Owl Capital Inc. (NYSE: OWL) has closed the acquisition of Chicago-based diversified real estate investment firm Oak Street Real Estate Capital, LLC and its investment advisory business for a closing purchase price of USD 950m, the company said.

The closing purchase price will be funded through a combination of cash and Blue Owl common units (up to an aggregate of approximately 39m Blue Owl common units issuable at closing).

In addition, upon the achievement of certain performance thresholds, Oak Street equity holders will be entitled to earnouts up to a total of approximately USD 650m, payable in cash at future dates or in Blue Owl common units (up to an aggregate of approximately 39m Blue Owl common units subject to vesting).

The transaction is anticipated to be approximately 5- 7% accretive to Distributable Earnings per Share starting in 2022.

This transaction adds a complementary real estate capability to Blue Owl's suite of financing solutions for users of capital and offers institutional and retail investors additional investment options.

Oak Street has...

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