Blue Owl Capital Inc. has announced the completion of its purchase of Oak Street Real Estate Capital, LLC and its investment advisory business. The deal was previously announced October of 2021.

Oak Street employs over 35 people with $12.4 billion in assets under management. The firm focuses on structuring sale-leasebacks including triple net leases and providing seed and strategic capital.

“Oak Street is the industry’s preeminent net lease platform with meaningful capital, scale and expertise that will further expand Blue Owl’s range of investment solutions,” added Doug Ostrover, co-founder and CEO of Blue Owl. “We look forward to working closely together and are excited for what the future holds.”

Kirkland & Ellis LLP acted as legal counsel to Blue Owl. Berkshire Global Advisors served as financial advisor and Willkie Farr & Gallagher LLP and Gibson, Dunn & Crutcher LLP acted as legal counsel to Oak Street.