12:14 PM EDT, 10/16/2024 (MT Newswires) -- Eldridge Industries has agreed to acquire a 10% stake in Blue Owl Capital's (OWL) GP Stakes III fund, Bloomberg reported Wednesday, citing people with knowledge of the matter.

The fund holds minority investments in prominent alternative asset managers, including Vista Equity Partners and Silver Lake Management.

The transaction is expected to yield approximately $985 million for Blue Owl over the next 27 months, the sources told Bloomberg. The deal has been reportedly communicated to investors in the fund.

Blue Owl and Eldridge Industries did not immediately respond to MT Newswires' requests for comment.

Blue Owl shares rose over 2% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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