Blue Owl Capital, a leading alternative asset manager, has announced it has entered into a definitive agreement to acquire the business of alternative credit manager Atalaya Capital Management for $450 million. The acquisition is expected to close in the second half of 2024, subject to customary closing conditions, and 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 and managed more than $10 billion of AUM as of June 30, 2024. Since inception, Atalaya has deployed more than $17 billion of capital, with nearly 70 percent of deal flow sourced directly through asset owners, originators or joint venture partners. Atalaya was founded in 2006 by Ivan Zinn, who serves as founding partner and CIO. Zinn will join Blue Owl as head of alternative credit and will report to Craig Packer, head of credit and co-president of Blue Owl. Atalaya
