May 2, 2024 Challenge of Blue Owl Capital’s Control in Energy Capital Partners / Bridgepoint mergerBy Tyson SlocumShare FacebookTwitterEmailToday in Federal Energy Regulatory Commission docket EC24-69 regarding the proposed private equity merger between Energy Capital Partners and Bridgepoint, we filed a joint protest with Private Equity Stakeholder Project regarding Blue Owl Capital’s ownership of seven different private equity firms that raise competition concerns. We previously reported to the Commission that Blue Owl owns nearly 20% of Energy Capital Partners and 15% of Bridgepoint,[1] and owns more than 20% of I Squared Capital and a significant stake in Stonepeak, private equity firms with Commission- jurisdictional holdings. [4]that Blue Owl’s predecessor Dyal Capital Partners acquired around 20% of EnCap, which is affiliated with entities granted market-based rate authority. Forbes reported[5] that Blue Owl’s predecessor Dyal Capital acquired 15% of Platinum Equity, a private equity firm affiliated with entities granted market-based rate authority. The significant concentration of financial ownership across such a vast array of private capital structures threatens competition in Commission-jurisdictional power markets if Blue Owl is not deemed an affiliate.

Source: Forbes May 03, 2024 09:32 UTC