Blue Owl Takes Stake in Infrastructure, Real Assets Firm Stonepeak

Asset management firm Blue Owl, through its GP Strategic Capital platform (previously known as Dyal Capital) has taken a passive, minority stake in Stonepeak, an infrastructure and real assets investment firm.

Financial terms of the transaction were not disclosed.

Stonepeak primarily targets assets within the communications, transport and logistics and energy transition sectors.

Blue Owl said its investment would have “no impact on the day-to-day management or operations of Stonepeak and the firm’s investment and decision-making processes will also remain unchanged.”

“Blue Owl’s long-term investment in Stonepeak is an endorsement of our differentiated approach to building lasting infrastructure and real assets businesses and creating value for all our stakeholders,” said Jack Howell and Luke Taylor, Stonepeak Co-COOs.

Stonepeak pulled in $14 billion for the final close of its Infrastructure Fund IV in February 2022, nearly double the amount collected for its $7.2 billion predecessor vehicle in 2018. It is reportedly currently looking to raise up to $20 billion for its latest North American infrastructure fund.

The firm has roughly $55.7 billion of assets under management and has made 52 investments since inception in 2011.

Blue Owl had more than $144 billion in assets at the end of March across credit, GP strategic capital and real estate.