Blue Owl Capital Inc. (NYSE:OWL) entered into an agreement to acquire Prima Capital Advisors LLC from Stone Point Capital LLC for approximately $220 million on April 9, 2024. Blue Owl's acquisition of Prima will be funded through a combination of approximately $157 million of equity and approximately $13 million in cash, subject to certain closing consideration adjustments. In addition, there is potential for up to $35 million of earnout consideration in the form of equity. Upon closing of the acquisition, Prima employees are expected to join Blue Owl. The acquisition is expected to close in the second or third quarter of 2024, subject to customary closing conditions. Blue Owl also announced that Jesse Hom, previously Global Head of Real Estate Credit at GIC, will join Blue Owl to lead the newly created Real Estate Finance strategy and serve as Chief Investment Officer for Blue Owl's Real Estate platform, reporting directly to Marc Zahr, Co-President of Blue Owl and Head of Real Estate.

Berkshire Global Advisors L.P. and J.P. Morgan Securities LLC are serving as lead financial advisors to Blue Owl in connection with the transaction. Natixis Corporate & Investment Banking, Wells Fargo, Newmark and Scotiabank are also acting as co-advisors to Blue Owl. Christopher Gandia, James Mayne and Eric Sweigard of Kirkland & Ellis LLP is serving as legal advisor to Blue Owl. Morgan Stanley & Co. LLC is serving as financial advisor to Prima. Todd E. Lenson, Howard T. Spilko, Arlene J. Ortiz-Leytte, Marissa J. Holob, Abraham (Avi) Reshtick and Kevin P. Scanlan of Kramer Levin Naftalis & Frankel LLP acted as legal advisor to Prima Capital Advisors LLC and Stone Point Capital LLC. Andrew Weiner, Stephen Amdur, Brett Willis, Nora Burke, Mark Jones , James Campbell and Alex Lathrop of Pillsbury Winthrop Shaw Pittman LLP are serving as legal advisors to Prima.