Blue Owl Capital Completes Acquisition of Oak Street Real Estate Capital |
NEW YORK and CHICAGO, December 30, 2021 / PRNewswire / – Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL) today announced the completion of the acquisition of Oak Street Real Estate Capital, LLC (“Oak Street”) and its investment advisory business. The transaction was announced in October 2021.
Oak Street is a Chicago-based company, founded in 2009 with over 35 employees and with $ 12.4 billion of managed assets to September 30, 2021. The company focuses on structuring sale leasebacks, which include triple net leasing contracts, as well as providing start-up and strategic capital. Oak Street, now a division of Blue Owl, will continue to be run by Marc Zahr who joins Blue Owl’s Board of Directors and Executive Committee. Oak Streets Chicago office is now an additional office for Blue Owl.
Doug Ostrover, Co-Founder and CEO of Blue Owl, said, “We are very excited to officially welcome Marc and the Oak Street team to Blue Owl. Oak Street is the industry’s leading net lease platform with significant capital, scope and expertise that Blue will continue to build on Owl’s portfolio of investment solutions. We look forward to the close cooperation and look forward to the future. “
Marc Zahr, Co-Founder and CEO of Oak Street, said, “Through its direct lending and GP equity solutions, Blue Owl has provided a single point of contact for alternative wealth managers in solving capital needs. We are excited to join the Blue Owl team and add our flexible real estate solutions to the platform. “
Kirkland & Ellis LLP acted as legal advisor to Blue Owl. Berkshire Global Advisors served as financial advisor and Willkie Farr & Gallagher LLP and Gibson, Dunn & Crutcher LLP served as legal counsel to Oak Street.
About blue owl
Blue Owl Capital is an alternative asset manager that provides investors with access to Direct Lending and GP Capital Solutions strategies through a variety of products. The company’s wide range and permanent capital base enable it to offer participants in the entire private market ecosystem, including alternative asset managers and private medium-sized companies, a differentiated, holistic platform of capital solutions. The company had approx. $ 70.5 billion of managed assets to September 30, 2021. Blue Owl Capital’s management team consists of seasoned investment professionals with over 25 years of experience building alternative investment businesses. Blue Owl Capital employs over 300 people in the Direct Lending and GP Capital Solutions divisions and has nine offices worldwide. For more information, please visit us at www.blueowl.com.
Across Oak Street
Oak Street Real Estate Capital is a diversified real estate investment company. The company was founded in 2009 and is headquartered in Chicago, Illinois. Oak Street offers a unique platform that combines direct and indirect real estate strategies across two business lines, its Net Lease platform and its Seeding and Strategic Capital platform. The Net Lease platform focuses on the acquisition of net rented properties to investment grade and creditworthy tenants. Oak Street specializes in providing flexible capital solutions to a wide variety of organizations including corporations, healthcare systems, universities, and government agencies.
The Seeding and Strategic Capital platform was founded with a focus on investing in real estate managers in the early stages. The company provides managers with strategic institutional capital backed by an attractive general partnership economy and active leadership. The platform seeks to work with highly coordinated management teams with leading investment capacities, often led and controlled by women and minorities.
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SOURCE Blue Owl Capital
