Tuesday, July 23

US firm Blue Owl has become a major lender to developer RLDatix

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Blue Owl provides a US$2 billion loan to RLDatix

Asset management firm Blue Owl has provided a US$2 billion private loan to RLDatix. The software developer will also receive funding from Ares Management and Golub Capital.
RLDatix provides software products for the healthcare sector. The company plans to use the funds to refinance its existing loans. The developer approached the lending platform for a term loan. The terms include an interest margin of 5%. On the other hand, the overnight secured loan has a fixed interest rate. In addition, RLDatix is raising approximately US$300 million in debt. The process takes place through in-kind payments through holding companies.
It’s worth noting that RLDatix is the property of three investment companies. The developer serves more than 6 thousand customers from 20 countries. The company’s products focus on improving patient safety during the treatment and prevention of diseases. In addition, RLDatix’s software helps improve the efficiency of the healthcare system. According to unverified sources, the company has approximately US$250 million in annual revenues.

Blue Owl loan to RLDatix

Blue Owl business overview

The New York-based company specialises in alternative investment management. Its shares are listed on the local stock exchange and traded outside the United States. It has offices in several cities, including Singapore and Hong Kong.
In its current form, the company was founded in 2020. At that time, Owl Rock Capital and Dyal Capital Partners merged with Altimar Acquisition. The transaction amounted to US$12.2 billion. In 2021, Oak Street and Ascentium joined the corporate structure. With the latter’s acquisition, the company expanded its presence in Hong Kong.
Blue Owl operates through three divisions:
1. GP Strategic. Involved in the financing of hedge funds and private equity firms. Activities focus on the acquisition of minority stakes in companies.
2. Oak Street. Makes investments in the property market, primarily through leaseback transactions. Major acquisitions include The Bow and Store Capital.
3. Owl Rock. Provides direct lending and credit investment services. Clients include Brown University and institutions in South Carolina.
According to the latest official data, Blue Owl has more than US$165 billion in assets under management. In addition, the firm provides state-of-the-art private capital-raising solutions with a long-term focus. It works with both institutional and private investors. Blue Owl develops a unique strategy for each client, considering the risks and desired level of return.

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