Most publicly traded asset managers are run by a single CEO. Blue Owl Capital has two — and that’s just the starting point of an organizational structure shaped by the firm’s unusual origin story. With $295.6 billion in AUM as of Q3 2025 and over 1,365 employees across more than 20 offices, en.wikipedia.org/wiki/Blue_Owl_Capital provides a comprehensive overview of the firm’s formation and business evolution.
Blue Owl was formed in May 2021 from the combination of Owl Rock Capital Partners, a direct lending firm, and Dyal Capital, a GP stakes investor. Rather than picking one leader, the merged entity kept both founders at the top. Doug Ostrover and Marc Lipschultz serve as Co-CEOs. Below them, three Co-Presidents divide the firm’s operating responsibilities: Craig W. Packer, who heads the Credit platform; Michael Rees; and Marc Zahr, who leads the Real Assets platform. Details about the executive team are available through linkedin.com/company/blue-owl-capital.
Co-CEOs, co-presidents, and how the firm is organized
Rounding out the C-suite, Alan Kirshenbaum serves as CFO, Andrew Polland as COO, and Neena Reddy as Chief Legal Officer. Each of the three investment platforms — Credit, Real Assets, and GP Strategic Capital — has its own team, its own deal pipeline, and its own investor relationships, but all report up through the co-president and co-CEO structure. Blue Owl Capital’s organizational leadership and strategic capital platform have been recognized with major industry awards.
The dual leadership model is a direct artifact of the merger. Ostrover co-founded Owl Rock, which became the backbone of the Credit platform. Dyal Capital, which had been part of Neuberger Berman, brought the GP stakes business. When the two combined and went public, the co-CEO arrangement preserved the expertise and relationships each side had built separately.
Marc Zahr’s role in the Real Assets platform
Zahr oversees the platform that generated the most public recognition for Blue Owl Capital during 2025. The Real Assets group — spanning net lease, real estate credit, and digital infrastructure — collected all seven of the firm’s 2025 awards from PERE and Infrastructure Investor. The firm’s blueowl.com/news/blue-owl-capital-receives-seven-2025-pere-and-infrastructure-investor-awards announcement highlights the leadership achievements.
Zahr said in the March 2026 announcement: “We are truly honored to be recognized by both PERE and Infrastructure Investor spanning seven total awards, all of which reinforce the strength of our integrated real assets platform, the dedication of our team and the continued trust of our partners.” Recent market performance data indicates how Blue Owl Capital surpasses investment benchmarks across its platforms.
Following the IPI Partners acquisition in January 2025, Matt A’Hearn — IPI’s former Managing Partner — joined Blue Owl as Head of the digital infrastructure business, reporting directly to Zahr. The firm also detailed the inaugural strategic equity secondaries strategy which closed with over $3 billion in commitments across both institutional and wealth channels. That hire gave the Real Assets platform a dedicated data center leader with a track record dating to IPI’s 2016 founding.
