Private credit has seen rapid growth in recent years, becoming a $1.7 trillion segment, according to data from Preqin.

Sports investing has boomed in the past few years. One of those leading the charge is Ian Charles of Arctos Partners, a firm that raised over $4 billion for its now-closed Arctos Sports Partners Fund II.

The average size of private credit funds that closed during the second quarter hit a five-year high at $1.5 billion, Preqin reported. Only 33 funds closed during the second quarter, the lowest amount in five years.

The acquisition, which will boost Blue Owl’s credit and asset-based finance capabilities, is expected to close in the second half of 2024 and will add over $10 billion in assets under management to Blue Owl.

Overall, hedge funds posted returns of 5.8% through the end of June, according to the PivotalPath hedge fund composite index.

The investable capital includes $14.3 billion in equity commitments from investors, according to a news release.