Blue Owl Capital has acquired a minority equity stake in the Cleveland Cavaliers via its Home Court Partners fund. This marks the sixth NBA franchise investment for the fund since its 2020 inception.

The deal, executed through a division of Blue Owl’s GP Strategic Capital platform, allows owner Dan Gilbert to retain majority control of the team. The Home Court Partners fund operates with a unique advantage: it is the sole institutional investor pre-approved by the NBA to purchase equity across all 30 league franchises.

This exclusive access provides investors with diversified exposure to the NBA through a single investment vehicle. Prior investments by the fund include stakes in the Minnesota Timberwolves, Charlotte Hornets, Atlanta Hawks, Sacramento Kings, and Phoenix Suns. The steady pace of deployment underscores the growing appeal of sports franchises as an alternative asset class.

This strategy signals a broader trend of private capital seeking opportunities in professional sports, driven by the potential for stable, long-term returns and increasing franchise valuations. Investors participating in Blue Owl's fund gain exposure to a portfolio of high-profile sports assets.