Blue Owl’s Dyal Capital Reportedly Aims for $13B Fund Target

Dyal Capital, the investing arm of Blue Owl Capital Inc., is looking to raise $13 billion for its sixth investment fund, according to Bloomberg.

Dyal, which backs other asset managers and offers financing to private equity firms, is reportedly setting another target similar to the fund’s predecessor.

Since inception in 2010, Dyal Capital has backed firms including Vista Equity Partners, CVC Capital Partners, Iconiq Capital and financial services investor TowerBrook Capital Partners. According to Blue Owl, the unit has roughly $49.2 billion in managed assets.

In January, Blue Owl Capital announced the final closing of Dyal Capital Partners V with $12.9 billion of committed capital. The fund closed on December 30 and was almost $4 billion larger than the team’s previous fund, Dyal Capital Partners IV.

The fund has made investments in 17 firms as of January, including: CVC Capital Partners, H.I.G. Capital, I Squared Capital, KPS Capital Partners, Lead Edge Capital, MBK Partners and PAI Partners.