“The acquisition of Atalaya adds adjacent and scaled alternative credit capabilities that complement Blue Owl’s leading position in direct lending,” said Doug Ostrover and Marc Lipschultz, co-CEOs of Blue Owl, in the statement. “Atalaya significantly expands Blue Owl’s alternative credit offerings and delivers a more robust suite of financing solutions to our stakeholders.”
Blue Owl Buys Atalaya Capital :Leadership Changes
Atalaya was founded by Ivan Zinn, who will join Blue Owl as head of alternative credit following the close of the transaction. The New York-based firm has roughly 115 employees, most of whom are expected to join Blue Owl and continue to manage existing Atalaya funds.
“We view Blue Owl as an ideal strategic partner to support the next stage of our growth,” Zinn said in the statement. “We are proud of the exceptional track record we built over nearly two decades and are incredibly grateful to our investors, team, and partners who made this journey possible. We look forward to continuing to drive forward at the leading edge of alternative credit as part of Blue Owl.”
Closing Conditions and Future Outlook
The deal is expected to close in the second half of the year, subject to customary closing conditions. It is anticipated to be mostly accretive to Blue Owl in 2025, according to the statement.
