Hedge Fund D1’s SpaceX Bet Fuels Its 39% Private Book Gain
A SpaceX Falcon Heavy rocket carrying an NOAA weather satellite lifts off at NASA's Kennedy Space Center, Florida.
Photographer: Miguel J. Rodriguez Carrillo/AFP/Getty ImagesD1 Capital Partners’ portfolio of private investments climbed 39% last year — powered by a bet on Elon Musk’s SpaceX, which nabbed an $800 billion valuation last month.
The rocket and satellite maker makes up roughly 45% of the hedge fund’s venture capital and private equity exposure, according to people familiar with the matter. Without that investment, D1’s privates book would have advanced about 18%, the people said, asking not to be identified because the information isn’t public.