Blue Owl Completes Acquisition of Kuvare Asset Management

Alternative asset manager Blue Owl Capital Inc. has completed its previously announced acquisition of Kuvare Insurance Services LP (operating as Kuvare Asset Management) (KAM), marking the official launch of Blue Owl Insurance Solutions.

The $750 million acquisition expands Blue Owl’s ability to serve the large-scale insurance market.

Operating across all of the firm’s investment platforms, the newly formed Insurance Solutions division combines a focused alternatives approach with expanded industry capabilities to serve insurance clients across a broader range of needs.

According to Blue Owl, the launch of the product is part of the next stage of the company’s development strategy, as it enables the expansion of cooperation with insurance companies and provides the company with a large and diversified source of capital.

KAM is a boutique investment management firm that specializes in providing asset management services to the insurance industry. As of May 31, 2024, it had approximately $20 billion in assets under management.

Blue Owl, as previously reported by Reinsurance News, financed the acquisition with a combination of $325 million in cash and $425 million in Blue Owl Class A common stock.

Once the acquisition is complete, the majority of KAM employees will likely join Blue Owl.