Blue Owl Capital Inc. is weighing an expansion into Europe through a potential acquisition of rival lender Hayfin Capital Management, according to a person with knowledge of the matter.
(Bloomberg) — Blue Owl Capital Inc. is weighing an expansion into Europe through a potential acquisition of rival lender Hayfin Capital Management, according to a person with knowledge of the matter.
A deal would add €30 billion ($32 billion) in assets under management to Blue Owl, which oversees $150 billion across multiple strategies and is already one of the largest private lending firms in the world.
Talks between the parties haven’t commenced, said a separate person briefed on the matter. Both people requested anonymity discussing confidential information. Antares Capital is separately weighing purchasing Hayfin, Bloomberg News reported earlier this month.
Representatives for Blue Owl and Hayfin declined to comment.
European private credit firms have attracted interest from US asset managers that are eager to expand their footprint across the region. Earlier this year, Nuveen acquired European firm Arcmont Asset Management and combined it with its Churchill Asset Management unit to create a $60 billion private debt platform.
Blue Owl has been mulling a foray into Europe either by building a team or buying an existing manager, people with knowledge of the matter said in June.
Read more: Blue Owl Weighing European Expansion Shows Direct Lending Surge
The New York-based firm, led by Doug Ostrover and Marc Lipschultz, hired its first employee in London, Amy Ward, in 2020 to oversee institutional client service and business development in Europe.
Hayfin, owned by British Columbia Investment Management Corp. as well as management and employees, has been exploring options including a potential sale, Bloomberg News reported last month. The London-based firm was founded in 2009 by former Goldman Sachs Group Inc. executives Tim Flynn and Mark Tognolini.
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