Blue Owl Advances on BlackFin Investment
Blue Owl Capital is close to securing a minority stake in Paris-based private investment firm BlackFin Capital Partners through one of its funds, according to a report by Bloomberg citing unnamed sources, as detailed in Private Equity Wire. The transaction, which has not yet been formally announced, is being advised by Houlihan Lokey, and all parties involved—Blue Owl, Houlihan Lokey, and BlackFin—have declined to comment, with deal terms remaining undisclosed.
BlackFin’s Investment Strategies
BlackFin operates across two primary strategies in financial services investing: a flagship buyout strategy that focuses on acquiring controlling interests in European financial institutions and raised €1.8bn for its latest fund in 2024, and a growth-oriented vehicle that invests in early-stage fintech and insurtech businesses, which raised approximately €390m in 2022. These strategies highlight BlackFin’s focus on European markets and specific sectors within financial services.
Blue Owl’s GP Strategic Capital Approach
The planned investment would be made through Blue Owl’s GP Strategic Capital platform, which acquires minority interests in alternative asset managers and receives a share of management fees and related income streams. Blue Owl has built a portfolio of such stakes, including in managers like Vista Equity Partners and Golub Capital, making it one of the active players in this segment, as noted in the report from Private Equity Wire.
The GP Stakes Market Landscape
The GP stakes segment has become increasingly active, with firms such as Blackstone, Goldman Sachs’ Petershill franchise, and Wafra pursuing similar strategies by providing capital to established managers for long-term exposure to recurring fee-based revenues and co-investment economics. Over the past decade, private capital firms have expanded into new strategies, larger fund structures, and broader geographies, boosting demand for permanent capital solutions and liquidity at the management-company level, while founders have used these transactions to monetise ownership and transition leadership. As a widely recognized trend in private markets, this activity reflects the growing interconnectivity among asset managers.
