Dyal Capital Partners is in talks to merge with Owl Rock Capital Partners LP, part of a complicated deal with a special-purpose acquisition company that would take them public, the firms said Wednesday.
Dyal and Owl Rock said they have been discussing a deal with a special-purpose acquisition company called Altimar Acquisition Corp.
The Wall Street Journal earlier reported on the transaction, which would value the combined asset managers at about $13 billion, according to people familiar with the matter.
As part of the deal, the firms could also raise additional capital, as is often the case in mergers with blank-check companies like Altimar. There are no guarantees the various parties will ultimately reach a deal, especially given the additional complexities posed by effectively pulling off two transactions at once.
Should it come together, it would be the latest in a recent series of asset-management deals and combine one of the biggest owners of private-equity firm stakes with an upstart credit investor that has posted rapid growth financing deals for many of the same private-equity firms.