Blue Owl Said to Lift I Squared Stake as Co-Founder Steps Back

Blue Owl Capital Inc. quietly increased its stake in infrastructure firm I Squared Capital to more than 20%, according to people with knowledge of the matter.

GP Strategic Capital, a unit of New York-based Blue Owl, acquired a portion of I Squared co-founder Adil Rahmathulla’s stake in the firm, said the people, who asked not to be identified discussing confidential information.

Spokesmen for Blue Owl and I Squared declined to comment.

Rahmathulla, who was a managing partner, “will be transitioning from his role at I Squared Capital over the coming year to pursue other opportunities” the Miami-based firm said ...