(RTTNews) - Blue Owl Capital (OWL) has entered into a definitive agreement to acquire the business of alternative credit manager Atalaya Capital Management for $450 million. The closing purchase price is comprised of $350 million of Blue Owl equity and $100 million of cash. Also, there is potential for up to $350 million of earnout consideration in the form of equity. The acquisition is expected to be modestly accretive to Blue Owl in 2025.
Atalaya focuses primarily on asset-based credit investments across consumer and commercial finance, corporate and real estate assets. Atalaya is based in New York and has approximately 115 employees, including over 50 investment professionals.
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