Neuberger's Hedge Fund-Focused P.E. Fund Tops $1 Billion

Dec 4 2012 | 2:35pm ET

Neuberger Berman Group's Dyal Capital Partners, which invests in hedge fund managers, has closed to new investments with more than $1 billion in commitments.

The private equity fund raised $1.28 billion from more than 40 institutional investors, Neuberger said yesterday. Dyal had targeted $1 billion in assets.

"We are excited to have such a high-quality group of institutional investors that partnered with us on an investment opportunity as unique as Dyal," the fund's head, Michael Rees, said. "Dyal's ability to provide both financial and strategic solutions to its hedge fund partners should prove very attractive for Dyal's investors in the long run."

Dyal plans to invest in between 12 and 15 established hedge fund firms, buying minority stakes. It has already made two such investments, in quantitative shop Capital Fund Management a year ago, and another undisclosed firm.

The fund said it expects to close several additional deals in the next several months.

Neuberger set up Dyal in the summer of 2010.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...