A team of Pillsbury lawyers advised longtime client Prima Capital Advisors in its acquisition by Blue Owl Capital Inc., a leading alternative asset manager, for aggregate consideration in the amount of $170 million. The transaction expands and diversifies Blue Owl’s Real Estate Finance platform.

Founded in 1992 by Gregory White, Prima manages approximately $10 billion in assets on behalf of institutional investors and select high net worth individuals—capitalizing on investment in commercial mortgages and mortgage-backed securities.

Blue Owl’s acquisition of Prima is expected to close in the second or third quarter of 2024 and will be funded through a combination of approximately $157 million of equity and approximately $13 million in cash, with a potential future earn-out of up to $35 million. Upon the closing of the acquisition, Prima's management and employees are expected to join Blue Owl.

To learn more about the transaction, click here.

The Pillsbury deal team was led by Real Estate partner Andrew Weiner and Corporate partner Stephen Amdur and included associates Alexandra Stephanos and Daniela Guerra. Tax partners Brett Willis and Nora Burke, Executive Compensation & Benefits partner Mark Jones and counsel Kevin Meil, Corporate partner James Campbell and Litigation partner Alex Lathrop also provided support to the team.