Blue Owl to acquire IPI Partners for ~$1B, adding $10.5B AUM

BLUE OWL CAPITAL INC.

Total consideration ~$1.0B: 80% Blue Owl equity (~$788.6M in units/shares) and 20% cash (~$203.8M).
IPI manages ~$10.5B in digital infrastructure assets (82 data centers, >2.2GW leased capacity).
Deal expected to close Q4 2024/Q1 2025; neutral to 2025 earnings, modestly accretive in 2026.
IPI Managing Partner Matt A'Hearn will become Head of Blue Owl's digital infrastructure strategy, reporting to Marc Zahr.
Blue Owl will partner with ICONIQ via a services agreement for investment analysis and investor relations, with future service payments.

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