<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001081019</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>3</amendmentNo>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>03/31/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001807427</issuerCik>
        <issuerName>Blue Owl Capital Corp III</issuerName>
        <issuerCusip>000000000</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>399 PARK AVENUE</com:street1>
          <com:city>NEW YORK</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10022</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM</reportingPersonName>
      <citizenshipOrOrganization>CA</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>16445728.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>16445728.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>16445728.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>3.2</classPercent>
      <typeOfReportingPerson>EP</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Blue Owl Capital Corp III</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>399 PARK AVENUE, NEW YORK, NEW YORK, 10022</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>California State Teachers Retirement System (CalSTRS)</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>100 Waterfront Place, MS 04
West Sacramento, CA 95605-2807</principalBusinessOfficeOrResidenceAddress>
        <citizenship>USA Governmental Employee Benefit Plan</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>EP</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>16,445,728  shares</amountBeneficiallyOwned>
        <classPercent>3.2%</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>16,445,728</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>16,445,728</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under &amp;#167; 240.14a-11.

</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM</reportingPersonName>
      <signatureDetails>
        <signature>Shifat Hasan</signature>
        <title>Portfolio Manager</title>
        <date>05/15/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
