It’s official. Dyal Capital Partners and
Owl Rock Capital are combining and going public by merging with a special purpose acquisition company. Blue Owl Capital, the resulting entity, will list on the New York Stock Exchange.
The complicated deal goes like this: Dyal, a unit of Neuberger Berman that invests in alternative-asset managers, has agreed to merge with Owl Rock, a middle-market lender that also counts Dyal as an investor, to create Blue Owl, an alternative asset manager with $45 billion in assets under management.
Blue Owl will then combine with Altimar (ticker: ATAC), a SPAC from HPS Investment Partners. Blue Owl is expected to have a $12.5 billion market capitalization. It will trade sometime during the first half of 2021 on the NYSE under the symbol OWL.
Owl Rock, Dyal Capital to merge in $12 billion deal
Bloomberg
Owl Rock Capital Group and Dyal Capital Partners, both based in New York, are coming together to form a new publicly traded investment firm.
Owl Rock Capital Group and Neuberger Berman Group s Dyal Capital Partners announced Wednesday that they have agreed to merge.
The two firms will combine with a special purpose acquisition company, Altimar Acquisition Corp., to form a publicly traded alternative investment firm, Blue Owl Capital Inc., according to an SEC filing.
Altimar is sponsored by alternative investment firm HPS Investment Partners.
The deal valued at about $12.2 billion and includes a combined $1.5 billion commitment from ICONIQ Capital, CH Investment Partners, $6.8 billion Koch Companies Defined Benefit Master Trust, Wichita, Kan, the Federated Hermes Kaufmann Funds and Liberty Mutual Investments.
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A transcript of the call will also be filed by Altimar with the SEC (News - Alert).
On the call, the presenters will be reviewing an investor presentation, which will be filed with the SEC as an exhibit to a Current Report on Form 8-K prior to the call, and available on the SEC website at www.sec.gov.
About Altimar Acquisition Corporation
Altimar Acquisition Corporation is a special purpose acquisition company sponsored by Altimar Sponsor, LLC, an affiliate of HPS Investment Partners, LLC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. For more information, visit www.altimarspac.com.