Dyal, Owl Rock Merge via SPAC to Form Asset Manager Giant
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Neuberger Berman’s Dyal Capital Partners and direct lender
Owl Rock Capital Partners have agreed to merge via a blank check company, forming a new alternative asset manager overseeing $45 billion.
The firms — which will create a newly formed entity named
Blue Owl Capital Inc. — will go public through a combination with
Altimar Acquisition Corp., a special purpose acquisition company backed by
HPS Investment Partners, according to a statement. The merged company is expected to have a market capitalization of about $12.5 billion.
Douglas Ostrover, co-founder of Owl Rock, will serve as chief executive officer of Blue Owl, which will focus on direct lending and capital solutions for general partners, the statement said. Dyal co-founder