Blue Owl Capital Acquires Atalaya for $450M to Boost Private Credit Expansion
Blue Owl Capital Inc. has agreed to acquire Atalaya Capital Management's alternative credit business for $450 million, expanding its asset-based finance capabilities with over $10 billion in assets under management. The acquisition, expected to close in the second half of 2024, will see Atalaya's founder Ivan Zinn join Blue Owl as Head of Alternative Credit. The deal includes $350 million in Blue Owl equity and $100 million in cash, with potential additional earnout consideration.