Blue Owl to Expand Life-Sciences Business with Cowen Investments Acquisition

Blue Owl Capital will bring on the life-sciences investment team from Cowen Investment Management, in a deal intended to expand the firm’s presence in a hot sector for alternative-investment managers.

Blue Owl, a $150 billion asset manager, has reached an agreement to acquire about $1 billion in funds managed by Cowen Healthcare Investments, according to Blue Owl executives. Cowen Healthcare is currently owned by Cowen Investment Management, which was bought earlier this year by Canada’s Toronto-Dominion Bank.