Blue Owl plans major insurance push
Blue Owl Capital is preparing to significantly expand its presence in the insurance market as the alternative asset manager looks to secure more long-term capital and broaden its investment platform, according to a report by the Financial Times.
Blue Owl Capital, an alternative asset manager, is set to dramatically increase its involvement in the insurance sector, according to a report by the Financial Times. The firm's co-chief executive, Doug Ostrover, stated that Blue Owl plans to make a significant "push" into the insurance market in order to secure more long-term capital and expand its investment platform.
Ostrover explained that the firm's goal is to develop new investment solutions by leveraging a larger pool of insurance assets, rather than acquiring an insurer outright. Unlike some larger private capital managers, such as Apollo and KKR, Blue Owl is pursuing a "balance-sheet-light" strategy. Blue Owl currently manages billions of dollars of insurance assets for Kuvare, a company in which it holds a minority stake.
The firm's insurance platform, however, is still smaller compared to those of larger rivals like Blackstone. To help develop its insurance strategy, Blue Owl has recently hired insurance industry executive Deva Mishra.
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