Blue Owl Buys Atalaya Capital for $800M

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Blue Owl Buys Atalaya Capital

Kirkland & Ellis LLP-advised private-equity shop Blue Owl Capital Inc. on Tuesday unveiled plans to buy alternative credit manager Atalaya Capital Management LP, led by Cravath Swaine & Moore LLP, for up to $800 million. This acquisition continues a trend seen earlier in the year of private-equity firms merging with or acquiring other asset managers.

Blue Owl Buys Atalaya Capital : Transaction Details

The purchase price for the transaction is $450 million, including $350 million of Blue Owl equity and $100 million in cash. There is also the potential for up to an additional $350 million of earnout consideration in the form of equity, subject to the achievement of future revenue targets, according to a statement.

About Atalaya Capital

Based in New York, Atalaya focuses mainly on asset-based credit investments across consumer and commercial finance, corporate, and real assets. The firm has over $10 billion of assets under management as of June 30 and has deployed more than $17 billion of capital since its 2006 inception.