ANOTHER ONE: CalSTRS Allocates $1 Billion to Owl Rock Capital

Posted on 10/06/2020

Increasingly, large asset owners are making large allocations to direct investing. The California State Teachers’ Retirement System (CalSTRS) has allocated US$ 1 billion to New York-based Owl Rock Capital, an alternative asset manager focused on direct lending. The strategic partnership with a customized mandate will be distributed across the Owl Rock platform, including allocations to its opportunistic credit and diversified lending strategies.

Owl Rock Capital has over US$ 20 billion of assets under management as of September 30, 2020. Doug Ostrover, Marc Lipschultz, and Craig Packer are the founders of Owl Rock and earned their chops at various shops such as GSO Capital (Blackstone Group), KKR, and Goldman Sachs. Owl Rock was formed in early 2016.

Keywords: California State Teachers Retirement System.

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