Blue Owl Speeds Up GP Stakes Payout Via Continuation Fund Twist

Blue Owl Capital Inc. is selling a slice of one of its funds that buys stakes in private equity firms to another investment vehicle it controls, part of an effort to more quickly return cash to investors.

The GP Stakes III fund is selling about 5% of its assets to Blue Owl GP Stakes Atlas Fund I, a continuation fund-like vehicle it recently launched, according to people with knowledge of the matter. The deal, set to be completed in three stages, will generate an expected $365 million in proceeds and allow GP Stakes III to accelerate cashflows back to ...