v3.25.1
ACQUISITIONS AND INTANGIBLE ASSETS, NET (Tables)
 3 Months Ended
Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table presents the consideration and net identifiable assets acquired and goodwill related to the IPI Acquisition:
(dollars in thousands)
Consideration
Equity consideration(1)
$922,174 
Cash consideration(2)
243,434 
Earnout liability 140,083 
Total Consideration$1,305,691 
Net Identifiable Assets Acquired and Goodwill
Assets acquired:
Cash and cash equivalents$1,107 
Due from related parties 40,550 
Intangible assets:
Investment management agreements240,000 
Investor relationships105,000 
Total intangible assets345,000 
Other assets, net1,448 
Total assets acquired388,105 
Liabilities assumed:
Accrued compensation227 
Operating lease liabilities982 
Accounts payable, accrued expenses and other liabilities5,040 
Total liabilities assumed6,249 
Net Identifiable Assets Acquired$381,856 
Goodwill(3)
$923,835 
(1)Represents Common Units issued to sellers.
(2)Includes $39.9 million of cash consideration payable in the second or third quarter of 2025.
(3)Goodwill represents the amount of total consideration in excess of net identifiable assets acquired. Approximately $199.4 million of the goodwill and intangible assets recognized are expected to be deductible by the Blue Owl Operating Partnerships for tax purposes.
Schedule of Finite-Lived Intangible Assets
The following table summarizes the Company’s intangible assets, net:
(dollars in thousands)March 31,
2025		December 31,
2024		Remaining Weighted-Average Amortization Period as of March 31, 2025
Intangible assets, gross:
Investment management agreements$3,505,420 $3,265,420 11.5 years
Investor relationships575,300 470,300 8.3 years
Total intangible assets, gross4,080,720 3,735,720 
Accumulated amortization:
Investment management agreements(761,491)(685,765)
Investor relationships(160,950)(147,203)
Total accumulated amortization(922,441)(832,968)
Total Intangible Assets, Net$3,158,279 $2,902,752 
Schedule of Finite-lived Intangible Assets Amortization Expense
The following table presents expected future amortization of finite-lived intangible assets as of March 31, 2025:
(dollars in thousands)
PeriodAmortization
April 1, 2025 to December 31, 2025$269,923 
2026345,246 
2027325,368 
2028319,543 
2029313,195 
Thereafter1,585,004 
Total$3,158,279