ATAC - Altimar Acquisition to combine with Owl Rock Dyal to form Blue Owl in $1.8B deal

Blank check company Altimar Acquisition (ATAC) jumps 10% after agreeing to combine with Owl Rock Capital Group and Neuberger Berman's Dyal Capital Partners to form Blue Owl Capital, an alternative asset management firm with more than $45B in assets under management.The transaction is expected to provide ~$1.8B in gross proceeds, comprised of Altimar's $275M of cash held in trust (assuming no redemptions) and a $1.5B fully committed, oversubscribed common stock PIPE at $10.00 pear share, including investments from CONIQ Capital, CH Investment Partners, Koch Companies Defined Benefit Master Trust, the Federated Hermes Kaufmann Funds, and Liberty Mutual Investments.The combined entity is expected to have a post-transaction market capitalization of approximately $12.5B. Blue Owl is expected to be listed on the NYSE under the ticker symbol "OWL" after the expected close in H1 2021.The new firm’s main business will focus on two of the fastest growing areas of alternative asset management: Direct Lending,

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Altimar Acquisition to combine with Owl Rock, Dyal to form Blue Owl in $1.8B deal