Blue Owl Capital, an alternative asset manager with an estimated $165B AUM, is aiming to be a major player in real estate financing with its $170M acquisition of Prima Capital Advisors, a lender specializing in CMBS.
New York-based Blue Owl announced last week it is acquiring Prima, which is majority owned by Greenwich, CT-based Stone Point Capital, in a transaction that will be funded by a combination of $157M of equity and $13M of cash.
In its announcement, Blue Owl described the acquisition as the launching of its Real Estate Finance strategy. The company announced that it has hired Jesse Hom, previously global head of real estate credit at GIC, the Singapore sovereign wealth fund, to lead the Real Estate Finance effort as chief investment officer.
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