NBA to Allow Pension and Sovereign Funds to Buy Team Stakes [BNN Bloomberg (Canada)]
Blue Owl Capital Inc. Class A (OWL)
Company Research
Source: BNN Bloomberg
up to investors who manage assets that by some estimates exceed $30 trillion. The NBA's board of governors voted to approve such investments, though any buyer would still be subject to league review and board approval, spokesperson Mike Bass said. The move extends the NBA's push to get more institutional investors involved in team ownership. In recent years it permitted private equity firms to hold stakes, including setting up a deal in 2020 for Blue Owl Capital Inc.'s Dyal HomeCourt Fund to be able to take minority interests in multiple franchises. It now has positions in the Atlanta Hawks, Phoenix Suns and Sacramento Kings. Sovereign wealth funds held about $10.5 trillion as of the end of 2021, a record high, while public pension funds had $21.4 trillion, according to data from Global SWF. The richest university endowments in the US, which often seek long-term investments, are also flush with cash. Adding passive investments from large funds can also boost the pool of future
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- Blue Owl Capital Inc. (NYSE: OWL) had its price target lowered by analysts at TD Cowen from $23.00 to $21.50. They now have a "buy" rating on the stock.MarketBeat
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OWL
Earnings
- 5/3/24 - Miss
OWL
Sec Filings
- 5/3/24 - Form 10-Q
- 5/2/24 - Form 8-K
- 4/26/24 - Form DEF
- OWL's page on the SEC website