Dyal Capital was formed in 2011 by
Michael Rees. It provided financing to
hedge funds and
private equity firms by acquiring
minority interests in them. It was a
middle market private credit direct lending firm that dealt with credit investments. In May 2021, the transaction was completed and Blue Owl was listed on the New York Stock Exchange. The deal was valued at $12.2 billion which included a $1.5 billion commitment from investors such as
ICONIQ Capital,
Federated Hermes and
Liberty Mutual. In December 2021, Blue Owl acquired Ascentium Group, a business development office based in
Hong Kong. This was done as part of its plans to expand in Asia. In July 2024, the firm entered into an agreement to purchase a private credit firm, Atalaya Capital Management. In October 2025,
Meta Platforms, Inc formed a $27 Billion joint venture with Blue Owl for the development of Hyperion data center for
AI in
Richland Parish, Louisiana. In November 2025, Blue Owl announced an agreement for merging its private fund Blue Owl Capital Corporation II ("OBDC II")but later called off the merger after facing revolt from investors and falling stock price. In February 2026, Blue Owl announced it will permanently restrict investor withdrawals from its primary private retail debt fund, Blue Owl Capital Corp II. At the same time, the firm sold 30% of its credit assets, amounting to $1.4 billion, to maintain liquidity for its investors. == References ==