07:36 AM EDT, 07/16/2024 (MT Newswires) -- Blue Owl Capital (OWL) said Tuesday that it has agreed to acquire alternative credit manager Atalaya Capital Management for $450 million.

The acquisition price includes $350 million of Blue Owl equity and $100 million in cash. The deal also includes the possibility of up to $350 million in earnout consideration in the form of equity, based on certain adjustments and meeting revenue targets.

The acquisition is expected to close in H2, and is expected to be modestly accretive to Blue Owl in 2025.

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