Blue Owl's Dyal HomeCourt Partners Announces Minority Equity Investment in Phoenix Suns of the NBA

NEW YORK, July 6, 2021 /PRNewswire/ -- Dyal HomeCourt Partners ("HomeCourt") today announced its first investment, a minority equity stake in the Phoenix Suns of the NBA. HomeCourt is managed by Dyal Capital, a division of Blue Owl, a leading alternative asset manager with $52.5 billion in assets, and it is the only private equity fund pre-approved by the NBA to invest in multiple NBA franchises. 

HomeCourt was formed to offer investors diversified exposure to the NBA's economic ecosystem and provides liquidity and growth capital to the league's 30 franchises and their respective ownership groups. 

Michael Rees, Blue Owl's co-president, commented: "We are delighted to partner with Robert Sarver and the Suns organization as HomeCourt's inaugural investment.  The Suns have made incredible strides both on and off the court in recent years and we believe that, under Robert's leadership, the best is yet to come."

Robert Sarver said: "The injection of institutional capital into the NBA will be a tremendous benefit to the league and its owners and the Suns are proud to be Dyal HomeCourt's first investment.  We look forward to a fruitful relationship with the Dyal team moving forward."

Dyal HomeCourt Partners was unanimously approved by the NBA's 30 owners to be the first, pre-approved institutional buyer of stakes in NBA funds.  HomeCourt can acquire a pool of stakes in an unlimited number of NBA franchises, intended to provide its investors with diversified access to the NBA's impressive growth engine.  

J.B. Lockhart, Chief Financial Officer for the NBA said, "We are excited that Dyal HomeCourt Partners has partnered with the Phoenix Suns to make its first minority investment in an NBA team. We look forward to Dyal continuing to scale its platform with additional investments in our teams."

About Blue Owl
Blue Owl is an alternative asset manager that provides investors access to direct lending and GP capital solutions strategies through a variety of vehicles. The firm's breadth of offerings and permanent capital base enables it to offer a differentiated, holistic platform of capital solutions to participants throughout the private market ecosystem, including alternative asset managers and private middle market corporations. The firm had approximately $52.5 billion of assets under management as of March 31, 2021. Blue Owl's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. Blue Owl has approximately 250 employees across its Dyal Capital and Owl Rock divisions and has six offices globally. For more information, please visit us at www.blueowl.com.

About the Phoenix Suns
Anchored by 2021 Coach of the Year Monty Williams and 2021 Executive of the Year, general manager James Jones, and led by two-time All-Star Devin Booker and future Hall of Famer Chris Paul, a new chapter of the Phoenix Suns has arrived. The franchise's culture is emphasized by relentless defensive identity and complemented by the "0.5" offensive system predicated on ball and body movement, quick decision-making and unselfish basketball. As Arizona's original professional sports franchise, the Suns have been regarded as one of the most successful NBA franchises on and off the court as leaders positively impacting The Valley. Led by Managing Partner Robert Sarver, Suns Legacy Partners, LLC operates the Phoenix Suns, three-time WNBA Champion Phoenix Mercury and Phoenix Suns Arena at the heart of downtown Phoenix, a venue that recently underwent a $230 million transformation, making it the preeminent destination for sports and entertainment in the southwest.

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Media Contact:
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SOURCE Blue Owl

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