Blue Owl Capital (OWL) has provided an update.
Blue Owl Capital Inc. is set to acquire Kuvare Insurance Services LP, an asset management firm catering to the insurance sector, in a deal valued at $750 million, including $325 million in cash and shares worth $425 million. The transaction also involves a deferred payment structure, with provisions for additional cash consideration based on future revenue milestones. This strategic move, expected to close in the latter half of 2024, aims to bolster Blue Owl’s presence in the financial market, subject to regulatory approvals and other conditions. Concurrently, the company has announced a separate $250 million Preferred Share investment in Kuvare UK Holdings Limited.
Learn more about OWL stock on TipRanks’ Stock Analysis page.
