FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Tactical Opportunities Portfolio 2020, L.P.
2. Date of Event Requiring Statement (Month/Day/Year)
05/19/2021
3. Issuer Name and Ticker or Trading Symbol
BLUE OWL CAPITAL INC. [OWL]
(Last)
(First)
(Middle)
C/O ICONIQ CAPITAL, 394 PACIFIC AVENUE, 2ND FLOOR
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

SAN FRANCISCO, CA 94111
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Class A Common Stock 20,000,000
I (1) (7) (8)
By BB Holdings AA LP
Class A Common Stock 10,000,000
D (2) (7) (8)
 
Class A Common Stock 10,000,000
I (3) (7) (8)
By Co-Investment Portfolio 2021 LP
Class A Common Stock 4,500,000
I (4) (7) (8)
By Glide Path Solutions 2020 LP
Class A Common Stock 2,000,000
I (5) (7) (8)
By Glide Path Solutions 2021 LP
Class A Common Stock 3,500,000
I (6) (7) (8)
By BB Holdings AC LP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Tactical Opportunities Portfolio 2020, L.P.
C/O ICONIQ CAPITAL
394 PACIFIC AVENUE, 2ND FLOOR
SAN FRANCISCO, CA 94111
    X    
Co-Investment Portfolio 2021, L.P.
C/O ICONIQ CAPITAL
394 PACIFIC AVENUE, 2ND FLOOR
SAN FRANCISCO, CA 94111
    X    
Tactical Opportunities Portfolio GP, LP
C/O ICONIQ CAPITAL
394 PACIFIC AVENUE, 2ND FLOOR
SAN FRANCISCO, CA 94111
    X    
ICQ Tactical Opportunities TT GP, LLC
C/O ICONIQ CAPITAL
394 PACIFIC AVENUE, 2ND FLOOR
SAN FRANCISCO, CA 94111
    X    
Co-Investment Portfolio GP II, LP
C/O ICONIQ CAPITAL
394 PACIFIC AVENUE, 2ND FLOOR
SAN FRANCISCO, CA 94111
    X    
ICQ Co-Investment II TT GP, LLC
C/O ICONIQ CAPITAL
394 PACIFIC AVENUE, 2ND FLOOR
SAN FRANCISCO, CA 94111
    X    
Makan Divesh
C/O ICONIQ CAPITAL
394 PACIFIC AVENUE, 2ND FLOOR
SAN FRANCISCO, CA 94111
    X    

Signatures

Tactical Opportunities Portfolio 2020 LP, By: Tactical Opportunities Portfolio GP, LP, By: ICQ Tactical Opportunities TT GP LLC, By: Louis D. Thorne, Title: Authorized Signatory, /s/ Louis D. Thorne 06/01/2021
**Signature of Reporting Person Date

Co-Investment Portfolio 2021 LP, By: Co-Investment Portfolio GP II LP, By: ICQ Co-Investment II TT GP LLC, By: Louis D. Thorne, Title: Authorized Signatory, /s/ Louis D. Thorne 06/01/2021
**Signature of Reporting Person Date

Tactical Opportunities Portfolio GP, LP, By: ICQ Tactical Opportunities TT GP LLC, By: Louis D. Thorne, Title: Authorized Signatory, /s/ Louis D. Thorne 06/01/2021
**Signature of Reporting Person Date

ICQ Tactical Opportunities TT GP LLC, By: Louis D. Thorne, Title: Authorized Signatory, /s/ Louis D. Thorne 06/01/2021
**Signature of Reporting Person Date

Co-Investment Portfolio GP II LP, By: ICQ Co-Investment II TT GP LLC, By: Louis D. Thorne, Title: Authorized Signatory, /s/ Louis D. Thorne 06/01/2021
**Signature of Reporting Person Date

ICQ Co-Investment II TT GP LLC, By: Louis D. Thorne, Title: Authorized Signatory, /s/ Louis D. Thorne 06/01/2021
**Signature of Reporting Person Date

Divesh Makan, By: /s/ Divesh Makan 06/01/2021
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The shares are held by BB Holdings AA LP ("BB Holdings AA").
(2) The shares are held by Tactical Opportunities Portfolio 2020 LP ("Tactical Opportunities 2020").
(3) The shares are held by Co-Investment Portfolio 2021 LP ("Co-Investment Portfolio 2021").
(4) The shares are held by Glide Path Solutions 2020 LP ("Glide Path Solutions 2020").
(5) The shares are held by Glide Path Solutions 2021 LP ("Glide Path Solutions 2021").
(6) The shares are held by BB Holdings AC LP ("BB Holdings AC").
(7) ICQ BB GP, LLC ("ICQ BB GP") is the sole general partner of BB Holdings AA, Glide Path Solutions 2020, Glide Path Solutions 2021 and BB Holdings AC. Tactical Opportunities Portfolio GP, LP ("Tactical Opportunities Portfolio GP") is the sole general partner of Tactical Opportunities 2020, and ICQ Tactical Opportunities TT GP LLC ("ICQ Tactical Opportunities") is the sole general partner of Tactical Opportunities Portfolio GP. Co-Investment Portfolio GP II LP ("Co-Investment Portfolio GP II") is the sole general partner of Co-Investment Portfolio 2021, and ICQ Co-Investment II TT GP LLC ("ICQ Co-Investment II" and together with ICQ BB GP and ICQ Tactical Opportunities, the "Ultimate General Partners") is the sole general partner of ICQ Co-Investment GP II. Divesh Makan ("Makan") is the managing member of the Ultimate General Partners.
(8) Each of ICQ BB GP, Tactical Opportunities Portfolio GP, ICQ Tactical Opportunities, Co-Investment Portfolio GP II, ICQ Co-Investment II and Mr. Makan disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of such Reporting Persons is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.
 
Remarks:
This Form 3 is the second of two Forms 3 being filed relating to the same event. The Form 3 has been split into two filings because there are more than 10 Reporting Persons in total, and the SEC's EDGAR filing system limits a single Form 3 to a maximum of 10 Reporting Persons. The first of two Forms 3 was filed by the designated filer BB Holdings AA LP.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.