Alternative asset manager Blue Owl Capital Inc. has completed its previously announced acquisition of Kuvare Insurance Services LP (dba Kuvare Asset Management) (KAM), marking the official launch of Blue Owl Insurance Solutions.
The $750 million acquisition enhances Blue Owl’s ability to serve the insurance market at scale.
Working across the firm’s investment platforms, the newly established Insurance Solutions arm combines the focused alternatives approach with expanded industry capabilities to serve insurance clients across a broader range of their needs.
The launch, according to Blue Owl, is in line with its next stage of growth strategy as it allows for expansion of relationships with insurance companies and provides the firm with a large and diversified source of capital.
KAM is a boutique investment management firm focused on providing asset management services to the insurance industry, with approximately $20 billion of assets under management as of May 31st, 2024.
Blue Owl, as previously reported by Reinsurance News, funded this acquisition through a combination of $325 million in cash and $425 million in Blue Owl Class A common stock.
With the acquisition now completed, most KAM employees are expected to join Blue Owl.
