Reports Q2 revenue $549.85M, consensus $505.85M. Reports Q2 AUM of $192.2B, up 28% since June 30, 2023. “Blue Owl continues to demonstrate exceptionally strong and stable growth, with LTM management fee growth exceeding 20% year over year in every quarter we’ve been public. The second quarter of 2024 was very active, with record levels of deployment, strong pipelines, and robust fundraising across a growing array of strategies and products,” said Doug Ostrover and Marc Lipschultz, Co-CEOs. “We recently announced our agreement to acquire Atalaya Capital Management’s business, instantly expanding and scaling our capabilities in alternative credit and asset-based finance capabilities, a multi-trillion dollar market with a long runway for growth. Atalaya is a high-quality manager with a great track record over market cycles, and we see significant opportunity to grow this business together. Organically and inorganically, Blue Owl is quickly building up the waterfront of solutions we offer, positioning ourselves within many of the major trends that we expect to drive alternative asset management growth for the foreseeable future.”
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Read More on OWL:
- Blue Owl Capital Inc. Second Quarter 2024 Results
- Blue Owl Capital acquires Atalaya Capital Management’s business for $450M
- Blue Owl Capital Significantly Expands Alternative Credit and Asset-Based Finance Capabilities with Acquisition of Atalaya Capital Management’s Business
- Blue Owl Capital price target lowered to $21 from $23 at Piper Sandler
- Blue Owl Capital downgraded on estimate risk at TD Cowen