Blue Owl hires ex-Barclays banker as Japan business co-head

Blue Owl Capital has hired former Barclays executive Takeo Ikemori to jointly lead its Japan business, as the alternative asset manager seeks to deepen ties with institutional investors in the country.

Ikemori joined the U.S. firm’s Tokyo office as head of Japan institutional capital, it said in a statement on Monday. He will share the role of Japan representative with Yoichi Nakamura, who is head of private wealth in the country.

Japan has become a focus for global asset managers as the return of inflation spurs investment, including in private assets. Blue Owl, which manages $319 billion primarily for institutions and wealthy investors, has been expanding staff in the country since opening its local office in 2023.

Ikemori’s team will primarily sell products related to private debt, real estate and what are referred to as general partner stakes, which involve acquiring minority holdings in investment companies, according to a spokesperson. Its main target clients include banks, insurers and regional financial institutions.

Ikemori previously headed Natixis’ financial institutions group in Tokyo, managing relationships with clients including banks. He also spent 16 years at Barclays, where he held leadership roles including managing director and led coverage for some of Japan’s biggest financial institutions, according to the statement.

The hiring comes as the New York-based firm signals optimism that the worst of the turmoil in the $1.8 trillion private credit market is over. Redemption requests from Blue Owl’s investors have eased, and new money is flowing in from Australia, Europe and the Middle East, according to executives.

Japanese exposure to mutual funds that hold private investments has risen sharply in recent years to more than ¥1.5 trillion ($9.4 billion), according to a Financial Services Agency report. Those assets include loans extended by funds to companies, stakes in unlisted firms and real estate.