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Alternative Investment

Blue Owl Capital, Ares Management close latest alternative investment funds

Blue Owl Capital and Ares Management on Wednesday announced the closings of their latest alternative investment funds.

First, Blue Owl Capital closed Dyal Capital Partners V with $12.9 billion in capital commitments, the firm said in the news release Wednesday.

The fund acquires minority investments in alternative money managers. To date, Dyal Capital Partners V has made investments in 17 firms, including CVC Capital Partners, H.I.G. Capital, I Squared Capital and KPS Capital Partners, according to the news release.

The previous fund, Dyal Capital Partners IV, was closed in 2019 with $9 billion in capital commitments.

Since the closing of the previous fund, Neuberger Berman Group’s Dyal Capital Partners merged with Owl Rock Capital Group and the two combined with a special purpose acquisition company, Altimar Acquisition Corp., to form Blue Owl Capital.

Investors in Dyal Capital Partners V include the $137.9 billion State of Wisconsin Investment Board, Madison, and $124.7 billion Minnesota State Board of Investment, St. Paul.

As of Sept. 30, Blue Owl Capital had $132.1 billion in assets under management.

Also, in a separate news release Wednesday, Ares Management announced the closing of Ares Infrastructure Debt Fund V at $5 billion.

The fund is focused on “making subordinated investments across the digital, utilities, renewables, energy and transportation sectors,” according to the Ares news release.

An Ares spokeswoman declined to comment.

The previous fund, AMP Capital Infrastructure Debt Fund IV, closed at $4 billion. Early in 2022, Ares purchased AMP Capital’s infrastructure debt business for A$428 million ($292 million).

As of Sept. 30, Ares Management had about $341 billion in assets under management.

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