Seller Details:
Iron Point Partners is a leading private equity firm targeting investments in real estate and other real assets throughout North America. Consistent with the firm’s family office heritage, Iron Point pursues a thematic, value-oriented investment approach across traditional and specialty property sectors. Since inception, and as of June 30, 2024, Iron Point and its affiliates have raised $10.4 billion in equity capital commitments across numerous multi-strategy and sector-focused investment vehicles.
Buyer Details:
Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives. With over $192 billion in assets under management as of June 30, 2024, the company invests across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate. Anchored by a strong permanent capital base, they provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.
Transaction Summary:
Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL), a leading alternative asset manager, has entered into a definitive agreement to acquire the business of digital infrastructure fund manager IPI Partners, LLC (“IPI”) from an affiliate of ICONIQ Capital (“ICONIQ”) and an affiliate of Iron Point Partners (“Iron Point”) for a purchase price of approximately $1.0 billion. 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. Blue Owl will partner with an affiliate of ICONIQ to help accelerate the future growth of the business.
Upon closing of the acquisition, IPI’s business will further enhance Blue Owl’s digital infrastructure strategy as part of the firm’s Real Estate platform, which will continue to be led by Blue Owl Co-President Marc Zahr. IPI’s Managing Partner, Matt A’Hearn will become Head of Blue Owl’s digital infrastructure strategy and report to Blue Owl Co-President Marc Zahr.