Dyal and Owl Rock to merge via SPAC and go public

New York — Neuberger Berman’s Dyal Capital Partners and direct lender Owl Rock Capital Partners have agreed to merge via a blank-cheque company, forming a new alternative asset manager overseeing $45bn.

The firms — which will create a newly formed entity named Blue Owl Capital — will go public through a combination with Altimar Acquisition Corporation, a special purpose acquisition company (SPAC) backed by HPS Investment Partners, according to a statement. The merged company is expected to have a market capitalisation of about $12.5bn...

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