Blue Owl completes $425M acquisition of Kuvare Asset Management, launches Insurance Solutions

BLUE OWL CAPITAL INC.

Issued 23,519,636 Class A shares valued at $425M to acquire Kuvare Asset Management (KAM).
KAM had ~$20B AUM as of May 31, 2024, focused on insurance asset management.
Acquisition establishes Blue Owl Insurance Solutions to serve insurance clients at scale.
Portion of shares issued subject to 180-day lock-up; registration rights agreement signed.
Transaction previously announced in April 2024; closed July 1, 2024.

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