NEW YORK - Blue Owl Capital Inc. (NYSE: OWL), an alternative asset manager, announced the appointment of Haitham Abdulkarim to lead its institutional business in the Middle East. The move is part of the company's strategy to strengthen its presence in the region, with a focus on expanding its Abu Dhabi and Dubai offices.
Abdulkarim brings a wealth of experience to Blue Owl, having previously held the position of Head of UAE at BlackRock (NYSE:BLK) and being instrumental in the development of the BlackRock Middle East Infrastructure Fund. His career also includes roles at Mubadala-backed Waha Capital and Samena Capital, as well as in Mergers & Acquisitions at HSBC (LON:HSBA) Global Banking & Markets and BNP Paribas (OTC:BNPQY) CIB.
The co-CEOs of Blue Owl, Doug Ostrover and Marc Lipschultz, expressed their intent to deepen relationships in the Middle East and provide tailored investment products and solutions to the region's investors. They believe that Abdulkarim's hire will enhance collaboration with investment partners in the Middle East.
Blue Owl has recently secured a license in the Dubai International Financial Centre and is awaiting approval for a license in Abu Dhabi Global Market. The company plans to open its flagship office in Abu Dhabi in the coming months.
Abdulkarim expressed enthusiasm for his new role, emphasizing Blue Owl's growth and his eagerness to expand the firm's Middle Eastern coverage.
Blue Owl, with over $174 billion in assets under management as of March 31, 2024, operates across Credit, GP Strategic Capital, and Real Estate platforms. The company is known for providing private capital solutions and alternative investment opportunities aimed at delivering performance and capital preservation.
This expansion initiative is based on a press release statement.
InvestingPro Insights
As Blue Owl Capital Inc. (NYSE: OWL) continues to expand its global reach, particularly in the Middle East, investors may find the company's financial metrics and analyst insights to be of interest. According to the latest data from InvestingPro, Blue Owl boasts a market capitalization of $26.28 billion USD, reflecting its substantial size in the alternative asset management space. The company's robust revenue growth, with a 24.87% increase over the last twelve months as of Q1 2024, underscores its growing business and potential for further expansion.
Blue Owl's commitment to shareholder value is evident in its dividend policy, having raised its dividend for 3 consecutive years, with a notable dividend growth of 38.46% in the same period. This could be particularly appealing to income-focused investors. Additionally, the firm's high Price / Book multiple of 15.95 as of Q1 2024 suggests that investors are willing to pay a premium for the company's book value, possibly due to expectations of future growth.
InvestingPro Tips highlight several key points for potential investors. Firstly, Blue Owl is expected to be profitable this year, which is an encouraging sign for stakeholders. Secondly, the company is trading at a low P/E ratio relative to near-term earnings growth, with an adjusted P/E ratio of 85.32, and a PEG ratio of 0.31, indicating that the stock may be undervalued in terms of its growth potential.
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