Back to News
Private Equity

Owl Rock Sells Minority Stake to Dyal

Published: June 22nd, 2020
The three founders of Owl Rock Capital have sold a noncontrolling position in the firm to Dyal Capital, the unit of Neuberger Berman that acquires minority stakes in private equity firm and hedge funds.

The three founders of Owl Rock Capital Group LLC said on Monday, Nov. 11, they agreed to sell a minority stake in their firm to Dyal Capital Partners, a unit of Neuberger Berman Group LLC that has been buying up stakes in private equity firms.

New York-based Owl Rock externally manages the second-largest business development company platform in the world, with assets under management of about $14.6 billion including Owl Rock Capital Corp. (ORCC), a publicly traded BDC.

The firms described the transaction as a “passive, nonvoting minority stake” but did not disclose any deal terms.

Owl Rock Capital founders Doug Ostrover, Marc Lipschultz and Craig Packer in a prepared statement said, “We look forward to putting this capital to work to continue growing out platform and delivering attractive risk-adjusted returns to investors.”

Michael Rees, head of Dyal Capital, in the statement said Owl Rock “has become a leading private credit firm with an outstanding reputation for origination and underwriting.”

Editor’s note: The original version of this article, including advisers and other details, was earlier published on The Deal’s premium subscription website. For access, log in to or use the form below to request a free trial.


This Content is Only for The Deal Subscribers

The Deal provides actionable, intraday coverage of mergers, acquisitions and all other changes in corporate control to institutional investors, private equity, hedge funds and the firms that serve them.

If you’re already a subscriber, log in to view this article here.

More From Private Equity

Private Equity

Nexa Dives Deep Into Mid-Market Software, Fintech

By Chris Nolter
Published: April 8th, 2022
Founder and managing partner Vlad Besprozvany discusses Nexa's launch, recent acquisitions and the 780 subsectors it tracks in software and fintech.

Drinks With The Deal: Carolyn Vardi of Ropes & Gray

By David Marcus
Published: April 7th, 2022
Carolyn Vardi, head of the PE industry practice group at Ropes & Gray, talks about the current state of the industry and the challenges and opportunities of a more fluid market for legal talent.