Blue Owl Capital Acquires Kuvare Asset Management for $750 Million
June 22, 2024
Blue Owl Capital agreed to acquire Kuvare Asset Management (KAM) for $750 million, funded with a mix of cash and Blue Owl Class A common stock; the acquisition is expected to add up to $20 billion of AUM to Blue Owl and support the launch of Blue Owl Insurance Solutions. Separately, Blue Owl made a $250 million preferred equity investment in Kuvare to provide growth capital to Kuvare's insurance businesses; most KAM employees are expected to join Blue Owl at closing.
- Buyers
- Blue Owl Capital Inc.
- Targets
- Kuvare Asset Management (dba Kuvare Insurance Services LP)
- Sellers
- Kuvare Holdings, Access Holdings Management Company LLC
- Industry
- Financial Services
- Location
- Illinois, United States
- Transaction Type
- Buyout
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