Monday, 4 May 2015
Last updated 14 min ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…