Blue Owl backs alternative investment firm Stonepeak

• Evercore was financial advisor to Stonepeak on the transaction while Simpson Thacher & Bartlett LLP was legal counsel
• Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Blue Owl
• Stonepeak has approximately $55.7 billion of assets under management

Blue Owl has made a minority investment in Stonepeak, a New York-based alternative investment firm focused on infrastructure and real assets. No financial terms were disclosed.

The capital infusion will be used to support Stonepeak’s growth.

“We are excited to partner with Blue Owl, a distinguished investor with a strong track-record of supporting successful investment managers, as we continue to build and scale our platform,” said Stonepeak CEO, chairman, and co-founder Michael Dorrell in a statement. “Our partnership with Blue Owl will allow us to better serve, and to increase alignment with, our limited partners. We look forward to investing this capital to grow our platform in ways that best serve our clients, while continuing to deliver strong risk adjusted returns for our investors.”

Evercore was financial advisor to Stonepeak on the transaction while Simpson Thacher & Bartlett LLP was legal counsel. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Blue Owl.

Stonepeak has approximately $55.7 billion of assets under management.