Understanding Dyal and Owl Rock's SPAC spectacle
December 10, 2020
Dyal Capital Partners and Owl Rock Capital may be on the brink of a deal that would be both highly complex and highly unusual. The two firms are in talks to merge and go public by combining with a special-purpose acquisition company sponsored by HPS Investments, a potential transaction involving a web of already-intertwined firms that could have major implications for GP stakes investing and the rest of the private equity industry.
What are the motivations behind the possible groundbreaking move? Our new analyst note examines all the angles, including why the potential for conflicts of interest might be overstated and how the recent emergence of a valuation gap between the public and private markets could be driving Dyal's deal:
What are the motivations behind the possible groundbreaking move? Our new analyst note examines all the angles, including why the potential for conflicts of interest might be overstated and how the recent emergence of a valuation gap between the public and private markets could be driving Dyal's deal: