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December 24, 2020

Dyal Capital, Owl Rock to merge and go public via SPAC tie-up

By Amala Johney

Investment firms Owl Rock Capital Group and Dyal Capital Partners have agreed to combine and go public through Altimar Acquisition, a special purpose acquisition company (SPAC).

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
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by GlobalData
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Dubbed Blue Owl Capital, the new entity will be an alternative asset management firm with over $45bn in AuM. It would be valued at $12.5bn.

Following the transaction, Blue Owl is expected to be listed on the NYSE under the new ticker ‘OWL’.

The merged entity

Blue Owl will focus on two of the main alternative asset management areas where Owl Rock and Dyal are specialised – direct lending and GP Capital Solutions.

It is anticipated to be well positioned to grow its asset base and distributable earnings owing to the complementary client relationships and skillsets of Dyal and Owl Rock.

The Owl Rock and Dyal businesses will remain autonomous but complementary.

Owl Rock co-founder Doug Ostrover will head Blue Owl as CEO while Dyal founder Michael Rees and Owl Rock co-founder Marc Lipschultz will serve as the co-presidents of Blue Owl.

Ostrover said: “Blue Owl’s expertise, agility and scale, supported by a substantial permanent capital base, will enable us to offer a holistic platform of capital solutions to private equity firms and privately held businesses.

“We believe this will broaden and deepen our relationships and provide us with unrivalled access to compelling investment opportunities. In addition, this permanent capital base will allow Blue Owl to continue to strongly grow its business in a consistent and predictable manner.”

Upon completion of the transaction, Blue Owl will be a stand-alone firm and Owl Rock and Dyal founders, along with Dyal’s parent company Neuberger Berman, will own meaningful equity positions in Blue Owl.

The deal is expected to close in the first half of next year.

In 2018, Dyal acquired a minority stake in private equity group Bridgepoint.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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