Blue Owl Capital (NYSE: OWL) appointed Deva Mishra as head of Blue Owl Insurance Solutions, effective July 6. Mishra will report to co-CEOs Doug Ostrover and Marc Lipschultz.

The insurance solutions platform launched in 2024 to provide investment capabilities for insurance clients. Blue Owl operates the platform within its broader investment structure, utilizing expertise from its Credit, Real Assets, and GP Strategic Capital teams.

Mishra previously served as CEO of Prosperity Asset Management and CIO of Prosperity Group Holdings, where he partnered with Elliott Management. Under his leadership, Prosperity expanded assets from $3 billion to approximately $30 billion and completed a multibillion-dollar monetization.

Prior to Prosperity, Mishra was Deputy Chief Investment Officer at Global Atlantic Financial Group, overseeing a general account exceeding $50 billion. He contributed to the firm's asset growth from $5 billion to $50 billion over eight years.

"Deva is a proven builder and leader with a differentiated track record across insurance, asset-backed finance, and long-duration investment solutions," said Ostrover and Lipschultz in a joint statement.

Blue Owl manages $315 billion in assets as of March 31, 2026, according to the company's press release. The firm invests across three platforms: Credit, Real Assets, and GP Strategic Capital.

Mishra stated the appointment represents an opportunity to scale the insurance solutions platform and leverage Blue Owl's origination capabilities across alternative investments.