Atalaya Capital Management’s Sale of its Business to Blue Owl Capital
July 16, 2024
On July 16, 2024, Atalaya Capital Management LP (“Atalaya Capital Management”), a privately‑held alternative credit manager, and Blue Owl Capital Inc. (“Blue Owl Capital”), an alternative asset manager, announced that they have entered into a definitive agreement for Blue Owl Capital to acquire the business of Atalaya Capital Management for $450 million. The closing purchase price of $450 million is comprised of $350 million of Blue Owl equity and $100 million of cash. In addition, there is potential for up to $350 million of earnout consideration in the form of equity, subject to certain adjustments and achievement of future revenue targets. Cravath is representing Atalaya Capital Management in connection with the transaction.
The Cravath team is led by partners Mark I. Greene, Aaron M. Gruber and Andrew M. Wark and includes associates Ryan J. Wichtowski and Chris Kim on M&A matters; partners J. Leonard Teti II and Andrew T. Davis and associate Michael Pelle on tax matters; partner Eric W. Hilfers, senior attorney Arian Mossanenzadeh and associate Brendon J. Rivard on executive compensation and benefits matters; partner Sasha Rosenthal‑Larrea and associate David M. Ungar on intellectual property matters; partner Jesse M. Weiss on antitrust matters; senior attorney Annmarie M. Terraciano and associate Star S. Gulant on environmental matters; and senior attorney Joyce Law on real estate matters. Kenya Rowser also worked on intellectual property matters and summer associate Joel K. Adu‑Quaye worked on M&A matters.
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