DigitalCFO Newsroom | 10 December 2021
Blue Owl Capital announced today that it acquired Ascentium Group Limited to establish its presence in Hong Kong.
Blue Owl Capital (NYSE: OWL), a leading alternative asset manager, today announced it acquired Ascentium Group Limited to establish its physical presence in Hong Kong. Blue Owl recently opened an office in Singapore so the Ascentium acquisition and establishment of an office in Hong Kong will further strengthen the firm’s presence in the Asia-pacific region. Ascentium is led by its Founder and CEO, James Lee, who will serve as the Head of Blue Owl’s Institutional Sales Team in Asia. Ascentium will, subject to relevant government authority approval, be re-named as Blue Owl Capital HK Limited in the weeks’ ahead.
Blue Owl CEO Douglas Ostrover said: “In order to better serve our current and prospective clients globally, we are thrilled to strengthen our presence in Asia with this acquisition of Ascentium. There is a tremendous opportunity for GP stakes, direct lending, and real estate solutions in the APAC region and we look forward to bringing our unique offerings to a market that is well-positioned for long-term growth.”
Mr Lee said: “I’m delighted to lead Blue Owl’s institutional sales efforts in the region. The firm has established great partnerships globally and we look forward to broadening our existing and building new relationships with Asian institutions throughout the region.”
Blue Owl’s Hong Kong office is the firm’s ninth office globally, with headquarters in New York.