General form of registration statement for all companies including face-amount certificate companies

Dyal Acquisition (Tables)

v3.21.2
Dyal Acquisition (Tables)
6 Months Ended
Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table provides the consideration calculation in connection with the Dyal Acquisition (dollars in thousands):
 
Consideration
      
Equity consideration(1)
   $ 4,285,359  
Cash consideration(2)
     973,457  
Tax receivable agreement(3)
     101,645  
Earnout Securities(3)
     246,788  
  
 
 
 
Total Consideration
  
$
5,607,249
 
  
 
 
 
Net Identifiable Assets Acquired and Goodwill
      
Assets acquired:
  
Due from related parties
   $ 13,442  
Intangible assets
     2,233,200  
Deferred tax asset
     29,770  
Other assets, net
     2,096  
  
 
 
 
Total assets acquired
     2,278,508  
Liabilities assumed:
  
Accrued compensation
     7,376  
Deferred tax liability
     170,753  
Accounts payable, accrued expenses and other liabilities
     41,352  
  
 
 
 
Total liabilities assumed
     219,481  
  
 
 
 
Net Identifiable Assets Acquired
  
$
2,059,027
 
  
 
 
 
Goodwill(4)
  
$
3,548,222
 
  
 
 
 
 
(1)
Represents share consideration issued to the Dyal Capital selling shareholders based on the fair value of the acquired business, reflecting a discount for lack of control.
(2)
Includes cash consideration paid to reimburse seller for certain
pre-acquisition
expenses, net of cash received in the Business Combination.
(3)
The TRA and Earnout Securities represent contingent consideration. See Note 9 for additional information on the valuation of these instruments.
(4)
Goodwill represents the amount of total consideration in excess of net identifiable assets acquired. None of the goodwill balance is 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):
 
   
June 30,
2021
   
Useful Life
(in years)
   
Remaining Weighted-Average

Amortization Period as of
June 30, 2021
 
Investment management agreements
  $ 1,859,900      
1.4 - 20.0
      14.2 years  
Institutional investor relationships
    306,600       10.0       9.9 years  
Trademarks
    66,700       7.0       6.9 years  
 
 
 
     
Total Intangible Assets
 
 
2,233,200
 
   
Less: accumulated amortization
    (21,336    
 
 
 
     
Total Intangible Assets, Net
 
$
2,211,864
 
   
 
 
 
     
Finite-lived Intangible Assets Amortization Expense
At June 30, 2021, future amortization of finite-lived intangible assets is estimated to be (dollars in thousands):
 
Period
  
Amortization
 
July 1, 2021 to December 31, 2021
   $ 93,490  
2022
     184,699  
2023
     182,456  
2024
     182,956  
2025
     180,106  
Thereafter
     1,388,157  
  
 
 
 
Total
  
$
2,211,864