Dyal Capital Partners, a division of Neuberger Berman, a private, independent, employee-owned investment manager, closed Dyal Capital Partners IV with over $9.0 billion of committed capital.
Fund IV is backed by a global investor base that includes sovereign wealth funds, public and corporate pension plans, endowments, foundations and family offices. Approximately 51% of the capital comes from the Americas and more than a third comes from Asia, reflecting the broad geographic appeal of Dyal’s investment strategy. Aggregate commitments across all Dyal funds and co-investment vehicles now total more than $21.6 billion, solidifying the firm’s position as a leading provider of minority equity capital to private equity and hedge fund management companies.
Fund IV’s objective is to provide passive, minority equity capital for building balance sheet capital and enabling leading firms to invest more capital alongside their investors. Ultimately, it will seek to make investments in approximately 15 private equity firms diversified by asset class, strategy, and geography.
Fund IV has made investments in ten firms to date: H.I.G. Capital, Clearlake Capital Group, HPS Investment Partners, Golub Capital, Bridgepoint, American Securities, HGGC, I Squared Capital, Arcmont Asset Management and Owl Rock.
With these transactions, the vehicle has committed approximately 64% the fund’s capital.
Led by Michael Rees, Head of Dyal Capital Partners, Fund IV will be deployed by a global team of 14 investment professionals. All the partners have access to its 26-person Business Services Platform, an advisory team of industry professionals who support the partners’ business objectives in a variety of areas, including capital strategy, product development, talent management, operations, infrastructure, technology, corporate strategy and preferred provider arrangements with third-party service providers.
FinSMEs
04/12/2019