The fund, titled OREF Europe, marks a strategic expansion of Blue Owl’s net lease platform into a region the firm estimates represents a €13.4 trillion opportunity. Marc Zahr, Co-President and Global Head of Real Assets, noted that the firm intends to apply its U.S.-tested sale-leaseback playbook to help European corporations monetize owned real estate to fund more accretive business activities.

Capital commitments arrived from a diverse global base, including sovereign wealth funds, pension funds, and family offices across the U.S., Europe, APAC, and the Middle East. The firm has already identified a robust pipeline of potential acquisitions, spanning sectors such as logistics, healthcare, life sciences, and data centers. This latest close bolsters Blue Owl's Real Assets platform, which has raised $8.48 billion in capital during 2026 alone.