Blue Owl Capital Enters Into an Agreement to Acquire IPI Partners

Acquisition Overview - Blue Owl Capital Inc. has signed a definitive agreement to acquire IPI Partners, LLC for nearly $1 billion, aiming to leverage the growing market for financing data centers and the increasing investor interest in cloud and AI-driven investments [1] - The purchase price will consist of approximately 80$10.5 billion in assets as of June 30, 2024 [3] - The IPI platform is one of the largest private U.S.-based data center investors, with a portfolio of 82 data centers across the U.S., EMEA, and APAC, totaling over 2.2GW of leased capacity [4] Management and Strategy - Post-acquisition, IPI's team will join Blue Owl, continuing to manage existing funds, with Matt A'Hearn becoming the Head of Blue Owl's digital infrastructure strategy [5][6] - An ICONIQ affiliate will provide business services to Blue Owl, with service fees based on future performance targets expected to be paid in 2026 and 2028 [7] Management Remarks - Blue Owl's Co-CEOs emphasized that the acquisition enhances their digital infrastructure strategy and capitalizes on the significant market opportunity in data center financing, benefiting from IPI's expertise and scale [8] - IPI's Managing Partner expressed excitement about joining Blue Owl and the potential for growth within the Blue Owl ecosystem [9]