Alternative asset manager Blue Owl Capital Inc. has closed its newest digital infrastructure fund.
The company announced today the final close of its latest digital infrastructure fund, Blue Owl Digital Infrastructure Fund III (ODI III), with $7 billion of total capital commitments.
ODI III exceeded the original target of $4 billion and hit its hard cap. ODI III will focus on developing, acquiring, and owning data centers and other connectivity-related real assets, with a focus on large-scale, build-to-suit developments.
Investors to ODI III include existing and new institutional investors, including public and private pensions, insurance companies, sovereign wealth funds, asset managers, endowments and foundations, and family offices in the United States and across Europe, APAC, and the Middle East.
Marc Zahr, co-president and global head of real assets at Blue Owl, said: “We continue to see a generational market opportunity in data centers and digital infrastructure more broadly. Massive capital commitments are required to fund the underlying infrastructure needed to support the world’s leading technology companies. We thank our investors for their commitments and believe ODI III is well-positioned given the favorable tailwinds driving the digital infrastructure sector forward.”
Blue Owl’s Digital Infrastructure strategy is part of Blue Owl’s Real Assets platform; the strategy has raised $34 billion of capital, investing in over 90 facilities across more than 25 markets globally.
Matt A’Hearn, head of Blue Owl Digital Infrastructure, added: “Size is critical in partnering with hyperscalers, and we are incredibly excited to close one of the largest data center-focused funds in the industry. Developing and investing in data centers globally demands expertise and strong end-client relationships. With rising capital needs, staying relevant means having the financial strength to build and own critical digital infrastructure along with maintaining an experienced global team focused on meeting the needs of our partners.”
Blue Owl has approximately $192 billion in assets under management. The company recently formed a $5 billion joint venture with Chirisa and PowerHouse to develop data centers across the US – mostly for AI cloud firm CoreWeave. It also recently acquired IPI Partners, taking over Stack Infrastructure and US regional Edge firm Radius DC.
