Blue Owl Capital to Acquire IPI Partners and to Partner with ICONIQ for Future Growth
Blue Owl Capital Inc. (NYSE: OWL) has announced a definitive agreement to acquire IPI Partners, , a digital infrastructure fund manager, for approximately $1.0 billion. The purchase price will be comprised of 80% Blue Owl equity and 20% cash. IPI, founded in 2016, manages $10.5 billion in assets and has a portfolio of 82 data centers across the US, EMEA, and APAC.
The acquisition is expected to close in Q4 2024 or Q1 2025, subject to certain conditions. It is anticipated to be neutral to Blue Owl's earnings in 2025 and modestly accretive in 2026. Blue Owl will partner with an affiliate of ICONIQ Capital to accelerate future growth. Upon closing, IPI's business will enhance Blue Owl's digital infrastructure strategy within its Real Estate platform.
This acquisition aims to capitalize on the growing market opportunity in financing data centers and increasing investor appetite for strategies investing in cloud and AI-driven trends.
Blue Owl Capital Inc. (NYSE: OWL) ha annunciato un accordo definitivo per acquisire IPI Partners,, un gestore di fondi per infrastrutture digitali, per circa 1,0 miliardi di dollari. Il prezzo di acquisto sarà composto dall'80% di equity di Blue Owl e dal 20% in contante. IPI, fondata nel 2016, gestisce 10,5 miliardi di dollari in attivi e ha un portafoglio di 82 centri dati negli Stati Uniti, EMEA e APAC.
L'acquisizione dovrebbe chiudersi nel quarto trimestre del 2024 o nel primo trimestre del 2025, soggetta a determinate condizioni. Si prevede che sarà neutra rispetto agli utili di Blue Owl nel 2025 e moderatamente accrescitiva nel 2026. Blue Owl collaborerà con un'affiliata di ICONIQ Capital per accelerare la futura crescita. Dopo la chiusura, l'attività di IPI rafforzerà la strategia di infrastruttura digitale di Blue Owl all'interno della sua piattaforma immobiliare.
Questa acquisizione mira a capitalizzare l'opportunità di mercato in crescita per il finanziamento dei centri dati e l'aumento dell'appetito degli investitori per strategie che investono in tendenze guidate da cloud e intelligenza artificiale.
Blue Owl Capital Inc. (NYSE: OWL) ha anunciado un acuerdo definitivo para adquirir IPI Partners,, un gestor de fondos de infraestructura digital, por aproximadamente 1,0 mil millones de dólares. El precio de compra estará compuesto por un 80% de capital de Blue Owl y un 20% en efectivo. IPI, fundada en 2016, gestiona 10,5 mil millones de dólares en activos y tiene un portafolio de 82 centros de datos en EE. UU., EMEA y APAC.
Se espera que la adquisición se cierre en el cuarto trimestre de 2024 o en el primer trimestre de 2025, sujeta a ciertas condiciones. Se anticipa que será neutral para las ganancias de Blue Owl en 2025 y moderadamente accretiva en 2026. Blue Owl se asociará con una filial de ICONIQ Capital para acelerar el crecimiento futuro. Al cerrarse, el negocio de IPI mejorará la estrategia de infraestructura digital de Blue Owl dentro de su plataforma inmobiliaria.
Esta adquisición tiene como objetivo capitalizar la creciente oportunidad de mercado en la financiación de centros de datos y el aumento del apetito de los inversores por estrategias de inversión en tendencias impulsadas por la nube y la inteligencia artificial.
블루 올 캐피탈 인크. (NYSE: OWL)는 디지털 인프라 펀드 관리자인 IPI 파트너스 인수에 대한 확정 계약을 약 10억 달러에 발표했습니다. 인수 금액은 블루 올의 80% 주식과 20% 현금으로 구성될 것입니다. 2016년에 설립된 IPI는 105억 달러의 자산을 관리하며 미국, EMEA, APAC에 걸쳐 82개의 데이터 센터 포트폴리오를 보유하고 있습니다.
이번 인수는 2024년 4분기 또는 2025년 1분기에 특정 조건에 따라 종료될 것으로 예상됩니다. 이는 2025년 블루 올의 수익에 중립적일 것으로 예상되며 2026년에는 다소 증가할 것으로 보입니다. 블루 올은 ICONIQ 캐피탈의 계열사와 협력하여 향후 성장을 가속화할 것입니다. 거래가 종료되면 IPI의 비즈니스는 블루 올의 부동산 플랫폼 내 디지털 인프라 전략을 강화할 것입니다.
이번 인수는 데이터 센터 금융의 성장 시장 기회를 활용하고 클라우드 및 AI 기반 트렌드에 투자하는 전략에 대한 투자자들의 수요 증가를 목표로 하고 있습니다.
Blue Owl Capital Inc. (NYSE: OWL) a annoncé un accord définitif pour acquérir IPI Partners,, un gestionnaire de fonds d'infrastructure numérique, pour environ 1,0 milliard de dollars. Le prix d'achat sera composé de 80% d'équité Blue Owl et de 20% en espèces. IPI, fondée en 2016, gère 10,5 milliards de dollars d'actifs et possède un portefeuille de 82 centres de données aux États-Unis, EMEA et APAC.
L'acquisition devrait être finalisée au quatrième trimestre 2024 ou au premier trimestre 2025, sous réserve de certaines conditions. Il est prévu qu'elle soit neutre par rapport aux gains de Blue Owl en 2025 et légèrement accréditive en 2026. Blue Owl s'associera à une filiale d'ICONIQ Capital pour accélérer la croissance future. Une fois finalisé, l'activité d'IPI renforcera la stratégie d'infrastructure numérique de Blue Owl au sein de sa plateforme immobilière.
Cette acquisition vise à tirer profit de l'opportunité de marché croissante en matière de financement de centres de données et de l'appétit croissant des investisseurs pour des stratégies investissant dans les tendances guidées par le cloud et l'IA.
Blue Owl Capital Inc. (NYSE: OWL) hat eine endgültige Vereinbarung bekannt gegeben, um IPI Partners zu übernehmen,, einen Manager für digitale Infrastruktur-Fonds, für etwa 1,0 Milliarden Dollar. Der Kaufpreis wird sich zu 80% aus Eigenkapital von Blue Owl und zu 20% aus Bargeld zusammensetzen. IPI, gegründet im Jahr 2016, verwaltet 10,5 Milliarden Dollar an Vermögenswerten und hat ein Portfolio von 82 Rechenzentren in den USA, EMEA und APAC.
Die Übernahme wird voraussichtlich im 4. Quartal 2024 oder im 1. Quartal 2025 abgeschlossen, abhängig von bestimmten Bedingungen. Es wird erwartet, dass sie neutral für die Gewinne von Blue Owl im Jahr 2025 und moderat gewinnbringend im Jahr 2026 sein wird. Blue Owl wird mit einer Tochtergesellschaft von ICONIQ Capital zusammenarbeiten, um zukünftiges Wachstum zu beschleunigen. Nach dem Abschluss wird das Geschäft von IPI die digitale Infrastrukturstrategie von Blue Owl innerhalb seiner Immobilienplattform stärken.
Diese Übernahme zielt darauf ab, von der wachsenden Marktgelegenheit zur Finanzierung von Rechenzentren und dem steigenden Investoreninteresse an Strategien zu profitieren, die in Cloud- und KI-gesteuerte Trends investieren.
- Acquisition adds approximately $10.5 billion in assets under management
- Expected to be neutral to earnings in 2025 and modestly accretive in 2026
- Enhances Blue Owl's digital infrastructure strategy
- Expands portfolio with 82 data centers across US, EMEA, and APAC
- Provides access to high-quality tenants, including Fortune 100 companies
- Large acquisition cost of approximately $1.0 billion
- 80% of purchase price to be paid in Blue Owl equity, potentially diluting existing shareholders
- Integration challenges may arise from merging two different organizations
- Acquisition of digital infrastructure fund manager will add approximately
$10.5 billion
IPI has approximately
Upon closing of the acquisition, IPI's business will further enhance Blue Owl's digital infrastructure strategy as part of the firm's Real Estate platform, which will continue to be led by Blue Owl Co-President Marc Zahr. IPI's Managing Partner, Matt A'Hearn will become Head of Blue Owl's digital infrastructure strategy and report to Blue Owl Co-President Marc Zahr.
An affiliate of ICONIQ will enter into an agreement with Blue Owl to provide services to Blue Owl's business, including, but not limited to, investment analysis and investor relations. In exchange for these services, an affiliate of ICONIQ is eligible for services payments, that are subject to certain future targets. Blue Owl anticipates these payments will be made between 2026 and 2028.
Blue Owl's Co-CEOs Doug Ostrover and Marc Lipschultz said: "The acquisition of IPI with its deep sector expertise complements our existing net lease strategy while providing an ideal opportunity to expand Blue Owl's digital infrastructure strategy. There is a massive market opportunity to finance data centers, matched by an increasing investor appetite for additional strategies investing behind cloud and AI-driven secular tailwinds. IPI's tenured investment team, preeminent LP-base and global scale in the digital infrastructure economy will enhance our suite of capital solutions and investment offerings, further strengthening our position as a partner of choice. Investors can benefit greatly from the combination of Blue Owl's triple net lease knowledge and IPI's depth in the data centers market."
Divesh Makan, a Founding Partner at ICONIQ, said, "It has been a privilege to help build IPI over the past eight years and to secure trust with many of the largest data center customers in the world. During this time, IPI has grown into one of the largest private developers and investors of data centers globally by solving problems for the leading global technology companies. We are excited to deepen our existing partnership with Blue Owl to advance IPI's market leadership and further execute on this generational opportunity."
Tom Lynch, a Managing Partner at Iron Point, added, "We are proud to have been partners with ICONIQ in the formation and growth of IPI, and we are confident that the addition of Blue Owl will enable IPI to achieve even greater scale to meet the needs of the world's largest technology companies."
Matt A'Hearn, Managing Partner of IPI, said, "On behalf of the IPI team, we are incredibly excited to join Blue Owl and serve as the foundation for expanding the firm's digital infrastructure strategy, further complementing their market-leading net lease strategy. We are also grateful to our partners at ICONIQ and Iron Point, who were instrumental in helping us become one of the most scaled digital infrastructure managers. We believe there's a tremendous amount that IPI can accomplish within the Blue Owl ecosystem alongside our partners at ICONIQ, and look to extend our market leading position."
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Societe Generale, and TD Securities (
Gibson, Dunn & Crutcher LLP is acting as legal advisor to IPI. Berkshire Global Advisors L.P. is serving as financial advisor to Iron Point.
A supplemental investor presentation with respect to the acquisition is available on the shareholders section of Blue Owl's website at www.blueowl.com.
Investor Call Details:
Blue Owl will host a conference call on Monday, October 7, 2024 at 8:30 a.m. ET to discuss the transaction.
Blue Owl invites all interested to participate via telephone or the live webcast. To register, please visit the Investor Resources section of Blue Owl's website at https://ir.blueowl.com/overview.
Participants are also invited to access the conference call by dialing one of the following numbers:
Domestic (Toll Free): (888) 330-2454
International: +1(240) 789-2714
Conference ID: 4153114
All callers will need to enter the Conference ID followed by the # sign. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected.
About Blue Owl
Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives.
With over
Together with over 820 experienced professionals, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.
About ICONIQ Capital
ICONIQ Capital is a global investment firm elevated by an extraordinary community. With over
About Iron Point
Iron Point Partners is a leading private equity firm targeting investments in real estate and other real assets throughout
Iron Point has offices located in
To learn more, visit www.ironpointpartners.com.
Forward Looking Statements
Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "would," "should," "future," "propose," "target," "goal," "objective," "outlook" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Any such forward-looking statements are made pursuant to the safe harbor provisions available under applicable securities laws and speak only as of the date made. Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law.
These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blue Owl's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.
Important factors, among others, that may affect actual results or outcomes include the inability to recognize the anticipated benefits of strategic acquisitions; costs related to acquisitions; the inability to maintain the listing of Blue Owl's shares on the New York Stock Exchange; Blue Owl's ability to manage growth; Blue Owl's ability to execute its business plan and meet its projections; potential litigation involving Blue Owl; changes in applicable laws or regulations; and the possibility that Blue Owl may be adversely affected by other economic, business, geo-political and competitive factors.
Investor Contact
Ann Dai
Head of Investor Relations
blueowlir@blueowl.com
Media Contact
Nick Theccanat
Principal, Corporate Communications & Government Affairs
Nick.Theccanat@blueowl.com
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SOURCE Blue Owl Capital
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