Blackstone, Blue Owl Take Minority Stake in US PE Firm Atlas

Blackstone Inc. and Blue Owl Capital Inc. are teaming up to acquire a minority stake in Atlas Holdings, a US private equity firm that manages more than $16 billion in assets.

The investment is being made via Blackstone’s GP stakes business and Blue Owl’s GP strategic capital strategy, according to a statement reviewed by Bloomberg News.

Founded in 2002 and headquartered in Greenwich, Connecticut, Atlas and its affiliates own and operate about 30 industrial, manufacturing and distribution businesses. Atlas last May raised $6.45 billion for its fifth flagship investment fund.

Private capital firms have increasingly turned to selling stakes ...