economy
Blue Owl shares surge after private credit firm cites 10X gains from SpaceX
Blue Owl said it's made 10 times its investment in SpaceX, which is headed for a record IPO later this year.
TL;DR
- Blue Owl shares rose 10% following news of substantial gains from its SpaceX investment.
- The firm made approximately 10 times its investment in SpaceX and has sold half its stake.
- These profits are anticipated to offset potential losses in the firm's software company holdings.
- Blue Owl reported strong first-quarter results with rising fee-related earnings and assets under management.
- The company expects to maintain a high fee-related earnings margin despite industry headwinds.