On October 7, Blue Owl Capital Inc. announced that it will acquire IPI Partners, LLC.
Blue Owl Capital Inc. (“Blue Owl”) announced, on October 7, 2024, that it had entered into a definitive agreement to acquire IPI Partners, LLC (“IPI”) from an affiliate of ICONIQ Capital (“ICONIQ”) and an affiliate of Iron Point Partners (“Iron Point”). The purchase price will be comprised of approximately 80 percent Blue Owl equity and approximately 20 percent cash. The acquisition is expected to close in the fourth quarter of 2024 or first quarter of 2025, subject to certain closing conditions including third party consents, and is expected to be neutral to Blue Owl’s earnings in 2025 and modestly accretive in 2026. Further terms of the transaction were not disclosed.
Blue Owl (NYSE: OWL), based in New York, is an alternative asset manager that invests in real estate, credit, and GP strategic capital. As of June 2024, Blue Owl had $192 billion in assets under management.
IPI, based in San Francisco, is a global investment platform focused exclusively on data centers and other technology and connectivity-related real assets. As of June 2024, IPI had $10.5 billion in assets under management.
ICONIQ, based in San Francisco, is a global investment firm. As of July 2024, ICONIQ had $64 billion in assets under management.
Iron Point, based in Washington, D.C., is private equity firm targeting investments in real estate and other real assets throughout North America. As of March 2024, had $1.4 billion in assets under management. Berkshire Global Advisors L.P. is serving as financial advisor to Iron Point on the transaction.
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