Blue Owl Closes €1.6B Debut European Net Lease Fund
Blue Owl Capital has closed its first European net lease fund with €1.6 billion in total commitments, exceeding both its original €1 billion target and previous €1.5 billion hard cap.
Blue Owl Real Estate European Net Lease Fund will acquire single-tenant real estate and infrastructure assets considered essential to the operations of blue-chip, investment-grade companies.
The firm is targeting industrial and logistics facilities, data centers, essential retail properties, health care and life sciences assets, cold storage facilities and corporate headquarters across the United Kingdom and continental Europe.
Blue Owl said Europe’s net lease market remains structurally underserved, creating opportunities to provide companies with capital through sale-leaseback transactions. Under such agreements, businesses sell owned properties and lease them back, freeing capital for other corporate uses.
“We are applying the same disciplined approach to a European market which represents an estimated €13.4 trillion opportunity,” said Marc Zahr, co-president and global head of real assets at Blue Owl.
Zahr said European companies can unlock value by monetizing their real estate and reinvesting the proceeds in potentially higher-return business initiatives.
The fund has assembled a near-term investment pipeline diversified across sectors and geographic markets, according to Blue Owl.
Investors included public and private pension plans, insurers, sovereign wealth funds, asset managers, endowments, foundations and family offices across the U.S., Europe, Asia-Pacific and the Middle East.
Blue Owl manages $319 billion across credit, real assets and GP strategic capital. Its net lease strategy is part of the firm’s real assets platform, which invests in single-tenant properties and infrastructure. The real assets business raised $8.48 billion during the first half of 2026 for investments across North America and Europe.
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