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Laxman Pai, Opalesque Asia: US-listed alternative investment house Blue Owl Capital acquired Hong Kong-based Ascentium Group, a business development office, which subjects to government approval, will be renamed Blue Owl Capital HK in coming weeks.
Blue Owl recently opened an office in Singapore, so the Ascentium deal and Hong Kong presence bolster its Asian footprint.
According to a press release from the alternative asset manager, the new Hong Kong office will strengthen the firm's presence in the Asia-pacific region as it also recently opened an office in Singapore. This is Blue Owl's ninth global office.
Ascentium's founder and CEO James Lee is taking on the new role of head of Blue Owl's institutional sales team in Asia. Ascentium was founded in 2020 as a joint venture with Owl Rock Capital Group.
Blue Owl CEO Douglas Ostrover said: "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."
James 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 institu...................... To view our full article Click here
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