Blue Owl Capital has opened its first dedicated office in Zurich, Switzerland, as the firm expands its presence in Europe.

The alternative asset manager said the office expands its global reach and establishes permanent local resources within the market. It will also support the firm’s engagement with financial intermediaries in Switzerland, including private banks and wealth managers, Blue Owl said.

The Zurich office will be led by Philippe Benedetti, managing director, private wealth Switzerland, who joins the firm from Schroders, where he covered intermediary and institutional clients in the market from 2021.

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“The opening of our Zurich office reflects our commitment to building a meaningful presence in one of the world’s most important financial markets,” said Doug Ostrover and Marc Lipschultz, co-chief executive of Blue Owl. “Switzerland has a distinguished history in asset management and banking, and it is central to the growth of our European business.”

The new base marks Blue Owl’s eighth office in the Europe, Middle East and Africa region as well as its twenty-fourth globally, the firm said.

Overall, Blue Owl has $319bn (£236.4bn) of assets under management across its platforms, including credit, real assets and general partner strategic capital. Blue Owl’s Private Wealth platform serves more than 175,000 clients globally.

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“Private markets is not a homogeneous asset class,” said Benedetti. “Success requires deep expertise in the sectors where a manager operates, as well as the patience and continuity to build a market presence over time. For Blue Owl, that expertise is rooted in private credit, real assets, and GP strategic capital.”

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