Blue Owl Capital (OWL) said Monday it has agreed to acquire digital infrastructure fund manager IPI Partners from ICONIQ Capital and Iron Point Partners affiliates for about $1 billion.
The company said the deal will be financed with around 80% of its equity and 20% cash.
The deal is expected to have a neutral impact on Blue Owl's earnings in 2025 and be modestly accretive in 2026.
Blue Owl will collaborate with an ICONIQ affiliate to drive future business growth, the company said.
The deal is set to close in Q4 2024 or Q1 2025.
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