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 value the fast-growing asset managers at about $13 billion combined and take them public, according to people familiar with the matter.
Dyal and Owl Rock have been discussing a deal with a special purpose acquisition company called Altimar Acquisition Corp.
ATAC.UT,
-0.09%
, the people said.
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.
An expanded version of this report appears on WSJ.com.
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