Blue Owl (NYSE:OWL) plans to expand the amount of insurance capital it manages as the alternative investment firm seeks additional sources of long-term capital, Co-Chief Executive Doug Ostrover told the Financial Times.
Ostrover said Blue Owl sees opportunities to increase its relationships with insurers as alternative asset managers seek access to larger pools of long-duration capital.
“We’re realising that if we had a bigger pool of capital, meaning insurance capital, we could provide really unique solutions . . . It’s something we’re going to make a big push in,” Ostrover said.
The company does not plan to acquire an insurance company directly, according to Ostrover. Some other alternative investment managers have used insurer acquisitions as part of their expansion strategies.
Blue Owl Shares Down 40% Over Past Year
Blue Owl shares have declined 40% over the past year.
The decline has partly reflected the firm’s exposure to software companies as investors assess the potential impact of artificial intelligence on the sector.
Ostrover previously held roles at Credit Suisse and Blackstone before becoming a co-founder of Blue Owl.
Blue Owl Capital stock price
