Blue Owl co-CEO Marc Lipschultz said the firm sold roughly half its stake in SpaceX at a $1.25 trillion valuation, generating a tenfold return on the investment.
SpaceX is expected to go public later this year at an estimated $1.75 trillion valuation, which would be the largest public listing on record. The IPO could put Elon Musk on track to become the world's first trillionaire.
Blue Owl, based in New York, was one of SpaceX's earliest lenders and later made an equity investment, buying two classes of shares in 2021.