Blue Owl's Dyal HomeCourt Partners Announces Minority Equity Investment in Atlanta Hawks

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Jan 04, 2022, 07:00 ET

NEW YORK, Jan. 4, 2022 /PRNewswire/ -- Dyal HomeCourt Partners ("HomeCourt") today announced it has acquired an almost six percent (6%) equity stake in the Atlanta Hawks from nine existing minority shareholders. Atlanta Hawks Principal Owner Tony Ressler was not a participant in the sale and will maintain his majority stake in the franchise. HomeCourt is managed by Dyal Capital, a division of Blue Owl, a leading alternative asset manager with $82.9 billion in assets under management.

HomeCourt was formed in 2020 as a partnership with the NBA to provide institutional capital to the NBA ecosystem to support the long-term growth of the league and to improve market liquidity. HomeCourt is the only institutional investor that can acquire a pool of minority stakes in an unlimited number of NBA franchises, intended to provide its investors with diversified access to the NBA's impressive growth engine. The transaction represents HomeCourt's third minority investment in an NBA franchise. Previous investments included the Phoenix Suns in July of 2021 and the Sacramento Kings in August of 2021.

Moelis & Company LLC served as financial advisor to the Hawks during the transaction.

Michael Rees, Blue Owl's co-president, commented: "Partnering with Tony and the Hawks is an exciting prospect given the strong growth the franchise has achieved over the past few years. In addition to a stellar management team, the franchise benefits from being located in one of the fastest growing metropolitan areas in the country. We look forward to working together and are excited for what the future holds, both on and off the court."

Tony Ressler, Atlanta Hawks Principal Owner and Chair, said: "We welcome the influx of institutional capital as a validation for the hard work that the Hawks front office and basketball operations management and staff have undertaken during our ownership group's tenure. We made it a priority to commit the resources to build a world-class team worthy of a world-class city, and so far, we have invested in top players, transformed State Farm Arena, built a state-of-the-art training and sports medicine facility, brought a G League team to College Park, launched initiatives to grow Black businesses, and re-invested in our communities across the city. On behalf of everyone at the franchise, we are thrilled to partner with Dyal HomeCourt as we continue to invest in the franchise and serve as a leader in the community."

David Haber, NBA Chief Financial Officer, said: "The partnership between the Atlanta Hawks and Dyal HomeCourt Partners continues to demonstrate the value and growth potential that institutional investors see in NBA franchises. We're excited to have Dyal forge its third partnership with an NBA team and look forward to the continued expansion of their investment model across the league."

# TrueToAtlanta #

ABOUT BLUE OWL
Blue Owl is a global alternative asset manager with $82.9* billion in assets under management as of September 30, 2021. Anchored by a strong permanent capital base, the firm deploys private capital across Direct Lending, GP Solutions and Real Estate strategies on behalf of Institutional and Private Wealth clients. Blue Owl's flexible, consultative approach helps position the firm as a partner of choice for businesses seeking capital solutions to support their sustained growth. The firm's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. Blue Owl employs over 350 people across 10 offices globally. For more information, please visit us at www.blueowl.com.

*Proforma as of 9/30/21 to include AUM attributable to Oak Street which became a Blue Owl Company on 12/29/21.

ABOUT THE ATLANTA HAWKS
Committed to entertaining and uniting the city of Atlanta since 1968, the Atlanta Hawks & State Farm Arena, under the leadership of Principal Owners Tony Ressler and Jami Gertz, continue to build bridges through basketball by following its True to Atlanta mantra. On the court, the Hawks' exciting young core is led by All-Star point guard Trae Young as the organization received the NBA's top ranking in overall in-game experience for the last two seasons. Off the court, the Hawks organization focuses on positively impacting the lives of Atlantans through providing access to youth basketball, fighting food insecurity, and the recent transformation of State Farm Arena into Georgia's largest-ever voting precinct for the 2020 elections. The Hawks family also includes the College Park Skyhawks (NBA G League) and Hawks Talon Gaming Club (NBA 2K League). Atlanta Hawks Membership, which includes your seat for every home game for the 2021-22 regular season, is on sale now at www.hawks.com/membership or by calling 866-715-1500. For more information on the Hawks, log on to www.hawks.com or follow us on social media @ATLHawks.

HAWKS CONTACT: Garin Narain or Max Strauss, Hawks Communications, [email protected]

BLUE OWL CONTACT: David Wells or Nick Theccanat, Prosek Partners, [email protected]

SOURCE Blue Owl