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Blue Owl Capital Acquires Prima Capital Advisors for $170M
Blue Owl Capital Inc. announced the creation of its Real Estate Finance strategy with the acquisition of Prima Capital Advisors for $170 million. Prima manages approximately $10 billion in assets and focuses on commercial mortgage-backed securities. The deal, expected to close in Q2 or Q3 2024, will be funded with $157 million in equity and $13 million in cash. Up to $35 million of earnout consideration is possible.
“Today’s announcements underscore how we think about strategic inorganic growth at the investment platform level. Marc Zahr and his team built a leading triple net real estate business that will become even more comprehensive and compelling with the addition of Prima’s debt capabilities,” said Blue Owl Co-CEOs Doug Ostrover and Marc Lipschultz.
Jesse Hom, formerly of GIC, will lead the new strategy as Chief Investment Officer. Berkshire Global Advisors L.P. and J.P. Morgan Securities LLC are serving as lead financial advisors to Blue Owl.
- ◦Financing
