Blue Owl Capital completes acquisition of Oak Street Real Estate Capital

Blue Owl Capital Inc. completed its acquisition of Chicago-based Oak Street Real Estate Capital LLC and its investment advisory business.

The transaction was announced in October last year.

Oak Street was founded in 2009 and has $12.4 billion of assets under management as of Sept. 30, 2021, according to the news release.

The CEO of Oak Street, Marc Zahr, will continue to lead the firm, which is now a division of Blue Owl. Zahr has also joined Blue Owl's board and executive committee.

Kirkland & Ellis LLP acted as legal counsel to Blue Owl. Berkshire Global Advisors served as financial adviser and Willkie Farr & Gallagher LLP and Gibson Dunn & Crutcher LLP acted as legal counsel to Oak Street.