Blue Owl Capital is close to securing a minority stake in Paris-based private investment firm BlackFin Capital Partners through one of its funds, according to a report by Bloomberg citing unnamed people familiar with the matter.
The transaction, which has not yet been formally announced, is being advised by Houlihan Lokey, the sources said. Deal terms have not been disclosed, while Blue Owl, Houlihan Lokey and BlackFin all reportedly declined to comment.
BlackFin operates across two primary strategies within financial services investing. Its flagship buyout strategy focuses on acquiring controlling interests in European financial institutions and raised €1.8bn for its latest fund in 2024. Alongside this, the firm also invests in early-stage fintech and insurtech businesses through a separate growth-oriented vehicle, which raised approximately €390m in 2022.
The planned investment would be made through Blue Owl’s GP Strategic Capital platform, which focuses on acquiring minority interests in alternative asset managers and receiving a share of management fees and related income streams.
The GP stakes segment has become an increasingly active corner of private markets, with firms such as Blackstone, Goldman Sachs’ Petershill franchise and Wafra also pursuing similar strategies. These investors typically provide capital to established managers in exchange for long-term exposure to recurring fee-based revenues and co-investment economics.
Over the past decade, private capital firms have expanded into new strategies, larger fund structures and broader geographies, increasing demand for permanent capital solutions and liquidity at the management-company level. In several cases, founders have also used GP stakes transactions to monetise ownership while transitioning leadership to the next generation.
Blue Owl has been among the most active participants in this space, building a portfolio of minority stakes in established managers including Vista Equity Partners and Golub Capital through its GP Strategic Capital platform.
