Blue Owl GP Stakes VI, which has raised approximately $10 billion, is expected to hold a final close this year.
The New York-based manager is also planning a successor to its GP-led secondaries fund in 2027 and is targeting an H1 first close for its debut credit secondaries offering.
The strategy, anchored by a Korean institutional investor, has adopted an evergreen semi-liquid structure aimed at capturing emerging credit secondary opportunities throughout the cycle.
The firm closed its second vehicle for the strategy in January, securing $1.6 billion in capital commitments at its revised hard cap.
The passive minority investment will reportedly strengthen the Swiss private equity firm's balance sheet and support team expansion and alignment with LPs.
The sequel fund has secured $150 million from a California pension and will back venture and growth managers through GP stakes, fund commitments, and co-investments.
The secondary market specialist will remain independently managed by its existing leadership team, with no changes to its investment strategy.
Since its inception in 2018, the Capital Constellation platform has made strategic investments in 29 alternative asset managers.
SecondaryLink outlines the IRR & MOIC of several GP stakes funds managed by Blue Owl.
Blue Owl GP Stakes VI, which expects to wrap up fundraising this year, is roughly 40% committed against its $13 billion target.
