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<submissionType>SCHEDULE 13G/A</submissionType>
<previousAccessionNumber>0001140361-22-038773</previousAccessionNumber>
<filerInfo>
<filer>
<filerCredentials>
<cik>0000315054</cik>
<ccc>XXXXXXXX</ccc>
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<liveTestFlag>LIVE</liveTestFlag>



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<formData>
<coverPageHeader>
<amendmentNo>4</amendmentNo>
<securitiesClassTitle>Common Stock, $0.01</securitiesClassTitle>
<eventDateRequiresFilingThisStatement>03/24/2025</eventDateRequiresFilingThisStatement>
<issuerInfo>
<issuerCik>0001889668</issuerCik>
<issuerName>Blue Owl Technology Finance Corp. II</issuerName>
<issuerCusip>000000000</issuerCusip>
<issuerPrincipalExecutiveOfficeAddress>
<com:street1>399 Park Avenue</com:street1>
<com:street2>38th Floor</com:street2>
<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>REGENTS OF THE UNIVERSITY OF CALIFORNIA</reportingPersonName>
<citizenshipOrOrganization>X1</citizenshipOrOrganization>
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<soleVotingPower>0</soleVotingPower>
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<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
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<typeOfReportingPerson>EP</typeOfReportingPerson>
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<issuerName>Blue Owl Technology Finance Corp. II</issuerName>
<issuerPrincipalExecutiveOfficeAddress>399 Park Avenue, 38th Floor, New York, New York, 10022</issuerPrincipalExecutiveOfficeAddress>
</item1>
<item2>
<filingPersonName>Regents of the University of California</filingPersonName>
<principalBusinessOfficeOrResidenceAddress>1111 Franklin Street, Oakland, CA 94607</principalBusinessOfficeOrResidenceAddress>
<citizenship>U.S.</citizenship>
</item2>
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<notApplicableFlag>N</notApplicableFlag>
<typeOfPersonFiling>EP</typeOfPersonFiling>
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<amountBeneficiallyOwned>0</amountBeneficiallyOwned>
<classPercent>0%</classPercent>
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<solePowerOrDirectToVote>0</solePowerOrDirectToVote>
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<sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
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<notApplicableFlag>N</notApplicableFlag>
<classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
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<notApplicableFlag>Y</notApplicableFlag>
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<item9>
<notApplicableFlag>Y</notApplicableFlag>
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<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 ?? 240.14a-11.</certifications>
</item10>
</items>
<signatureInformation>
<reportingPersonName>REGENTS OF THE UNIVERSITY OF CALIFORNIA</reportingPersonName>
<signatureDetails>
<signature>/s/ Arthur R. Guimaraes</signature>
<title>Arthur R. Guimaraes/Chief Operating Officer and Co-Head Real Estate</title>
<date>04/11/2025</date>
</signatureDetails>
</signatureInformation>
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</edgarSubmission>
