NEW YORK (S&P Global Ratings) Oct. 18, 2021--S&P Global Ratings today said Blue Owl Capital Inc.'s proposed up to $1.6 billion ($950 million at close, remaining $650 million based on performance) acquisition of Oak Street Real Estate Capital, a triple net lease investment advisor with about $10.8 billion of assets under management (AUM) as of June 30, 2021, will help diversify Blue Owl's AUM and have a manageable impact on leverage. Oak Street focuses on investing in single-tenant, triple net lease properties occupied by investment-grade tenants subject to long-term leases. While the acquisition will add a modest amount of AUM to Blue Owl's existing AUM of $62 billion, we expect that it will allow Blue Owl to cross-sell its products
