Alternative asset manager Blue Owl Capital has agreed to acquire the business of digital infrastructure fund manager IPI Partners for approximately $1 billion. This will be composed of approximately 80 percent Blue Owl equity and 20 percent cash.
The sellers included an affiliate of ICONIQ Capital and an affiliate of Iron Point Partners.
IPI has approximately $10.5 billion in assets under management as of June 30. It was founded in 2016 as a joint venture between ICONIQ and Iron Point to service the needs of large, high-quality hyperscale and enterprise datacenter users. The IPI platform has grown into one of the largest private U.S.-based data center investors, with a portfolio of 82 data centers comprising more than 2.2 gigawatts of leased capacity across the United States, EMEA and Asia Pacific. Tenants are primarily investment-grade corporations, including several Fortune 100 companies. Blue Owl will partner with ICONIQ’s affiliate to help accelerate the future g