Blue Owl Capital has announced the acquisition of IPI Partners, a digital infrastructure fund manager, for approximately $1 billion. The deal is structured with about 80 percent in stock and 20 percent in cash.
This acquisition will significantly enhance Blue Owl's asset base by adding nearly $11 billion, with IPI contributing around $10.5 billion in assets. Blue Owl's Co-President, Marc Zahr, will continue to oversee the real estate segment, while IPI’s managing partner, Matt A’Hearn, will take charge of the digital infrastructure division, reporting directly to Zahr.
Founded in 2016, IPI Partners manages a portfolio of 82 global properties and employs 70 professionals. Following the acquisition, these employees are expected to join Blue Owl and continue managing IPI’s existing funds. The partnership with an affiliate of ICONIQ will also provide Blue Owl with enhanced investment analysis and investor relations services.
The acquisition aligns with Blue Owl's ongoing efforts to expand its digital infrastructure strategy. The demand for digital infrastructure is surging, driven by the rapid growth of cloud computing and artificial intelligence. Blue Owl aims to capitalize on this market opportunity and enhance its overall investment strategy.
This acquisition follows Blue Owl's recent purchases of Atalaya Capital Management and Kuvare Asset Management, reflecting the firm's commitment to diversifying its investment platforms. With over $192 billion in assets under management, Blue Owl is positioning itself as a formidable player in the alternative investment space.