Dyal Capital Partners has received approval from the investors in the funds it manages, that provides the required consents to permit the closing of its pending strategic combination with Owl Rock Capital Group and Altimar Acquisition Corporation. Additionally, the Securities and Exchange Commission has declared effective the S-4 filed by Altimar, the special purpose acquisition company buying the merged company to form Blue Owl Capital.
Owl Rock, Dyal and Altimar agreed in December to form Blue Owl, a differentiated $50.9 billion AUM alternative asset manager. The Dyal Capital Partners funds are currently part of Neuberger Berman, a private, independent, employee-owned investment manager.
Sean Ward, founding partner and managing director of Dyal Capital Partners, said, “We greatly appreciate the broad support we received from our investors and other parties with whom we have engaged during this process. We look forward to finalizing this transaction and strengthening our position as a leading private markets capital partner and investment manager.”
Michael Rees, head of Dyal Capital Partners, commented, “We are excited about the benefits we believe Blue Owl will deliver for our stakeholders, including the support we will offer financial sponsors and private companies as they continue to serve as an engine of growth for the broader economy.”
Rees will be co-president of Blue Owl alongside Owl Rock co-founder and president Marc Lipschultz.
Blue Owl is expected to be listed on the NYSE under the ticker symbol “OWL” following the anticipated close of the business combination.