Blue Owl cashes out part of SpaceX stake

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Blue Owl Capital sold roughly half of its SpaceX investment at a $1.25 trillion valuation, locking in about a 10x return, according to co-CEO Marc Lipschultz.

Blue Owl originally invested $27 million in SpaceX equity in 2021 through one of its technology finance funds after first building ties as an early lender. The firm’s remaining stake is still significant, while the partial sale secures major realized gains ahead of SpaceX’s expected IPO later this year.

SpaceX is reportedly targeting a public debut at a potential $1.75 trillion valuation, which could make it one of the largest IPOs in history. Blue Owl’s move reflects both confidence in future upside and a strategic decision to crystallize profits at already massive private-market valuations.

The sale also gives Blue Owl additional flexibility to offset potential credit-market risks, showing how private equity positions in top-tier tech firms can serve as major portfolio stabilizers.

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