Owl Rock and Dyal merger almost complete

Owl Rock Capital Group and Neuberger Berman The group’s Dyal Capital Partners cleared one of the final hurdles in their ongoing merger with special purpose acquisition firm Altimar Acquisition Corp., according to an SEC filing.

On Tuesday, the majority of Altimar shareholders approved the transaction.

The two companies announced in December plans to merge with Altimar to form a publicly traded alternative investment firm known as Blue Owl Capital Inc., Blue Owl Holdings and Blue Owl Carry, according to the SEC filing. . The transaction is expected to close on Wednesday.

Blue Owl Carry will acquire 15% of the interest earned, incentive fees and certain of the other incentive fees of all existing and future Owl Rock and Dyal funds. Exceptions include all costs of Owl Rock‘s business development company and those related to existing or future Dyal equity funds, co-investments or secondary transactions, such as continuation funds.

Altimar is sponsored by the alternative investment firm HPS Investment Partners.

The deal is valued at approximately $ 12.2 billion and includes a combined commitment of $ 1.5 billion from ICONIQ Capital, CH Investment Partners, $ 6.8 billion Koch Companies Defined Benefit Master Trust, Wichita, Kan. , The Federated Hermes Kaufmann and Liberty Mutual Investments funds.

Blue Owl is expected to be listed on the New York Stock Exchange under the symbol OWL and have a post-trade market capitalization of approximately $ 12.5 billion.

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