Blue Owl Capital Inc. is a major American alternative investment management firm, listed on the New York Stock Exchange as "OWL" and headquartered in New York City, with additional offices in London, Dubai, and Hong Kong. The company was created in May 2021 through a $12.2 billion merger of Dyal Capital Partners and Owl Rock Capital, facilitated by a special-purpose acquisition company (SPAC) called Altimar Acquisition Corp. Following its listing, Blue Owl aggressively expanded by acquiring Oak Street (a real estate firm) in 2021, Ascentium Group in Asia, and Atalaya Capital Management in 2024. In a significant venture, it partnered with Meta Platforms in October 2025 to form a $27 billion joint venture to build an AI data center in Louisiana. However, the firm faced turmoil in late 2025 and early 2026, scrapping a merger for its private fund (OBDC II) after investor revolt and falling stock prices. To preserve liquidity, Blue Owl announced in February 2026 that it would restrict investor withdrawals from its primary retail debt fund and sold $1.4 billion in credit assets.