Blue Owl Capital acquired Hong Kong-based Ascentium Group, a business development office, which subject to government approval, will be renamed Blue Owl Capital HK in coming weeks, a spokesman said.
Ascentium's founder and CEO James Lee is taking on the new role of head of Blue Owl's institutional sales team in Asia. The acquisition of Ascentium is part of Blue Owl's expansion into the Asia-Pacific region. Blue Owl recently opening an office in Singapore.
Ascentium was founded in 2020 as a joint venture with Owl Rock Capital Group, another Blue Owl spokesman said in an email.
In May, Owl Rock and Neuberger Berman's former business unit, Dyal Capital Partners merged and went public by combining with a special purpose acquisition company.
Blue Owl had $70.5 billion of assets under management as of Sept. 30.