Blue Owl Capital reported $251.1 billion of assets under management as of Dec. 31, up 52% year-over year from $165.7 billion and up 7% from $234.6 billion the previous quarter.
The AUM increase during 2024 was primarily driven by the acquisitions of Kuvare Insurance Services, real estate lender Prima Capital Advisors and alternative credit manager Atalaya Capital Management, in addition to capital raised and changes in debt and appreciate across the business, the firm reported Feb. 6.
“Looking ahead, we see tremendous growth for both the newer businesses under our umbrella and our existing capabilities," said Marc Lipschultz, co-CEO of Blue Owl, during the firm's earnings call. "We plan to continue expanding our global distribution, while introducing new strategies and product structures, that further strengthen Blue Owl’s value proposition for institutional, private wealth and insurance clients.”
Credit makes up the largest portion of Blue Owl’s assets under management at $135.7 billion, up from $84.6 billion a year earlier, followed by GP strategic capital at $66 billion, up from $54.2 billion a year ago, and real assets at $49.4 billion up from $26.9 billion a year earlier.
Blue Owl reported $9.5 billion of total fundraising during the fourth quarter led by $4.3 billion in credit, $3.2 billion in GP strategic capital and $1.9 billion in real assets.
Lipschultz noted on the calls that the fourth quarter was the highest for fundraising in the firm's institutional channel with $5.6 billion raised across a number of mandates within credit, large-cap and mid-cap GP stakes, insurance solutions and real assets.
Commenting on the consolidation activity taking place in the alternatives industry, Lipschultz said "we have seen the largest managers consolidate market share in the alternatives industry. We expect this trend to continue for the next decade, and we fully expect to be one of those consolidated managers.”
At the start of January, Blue Owl completed its acquisition of digital infrastructure fund manager IPI Partners.
Asked about the recent DeepSeek AI news and data center investing, Lipschultz said, "I think it's hard to reach a conclusion other than what it tells us is that AI is happening more, faster, broader. That's great news for our strategy."
