Neuberger Berman Private Equity Fund Adds Scopia Stake

Jan 4 2013 | 11:30am ET

Having raised more than $1 billion for the purpose, Neuberger Berman Group's Dyal Capital Partners is wasting no time in buying stakes in hedge fund managers.

The fund, set up two-and-a-half years ago to buy passive minority stakes in established hedge fund managers, has now invested in at least three managers. Two of those stakes have been purchased in the past two months, including this week's announcement of its partnership with Scopia Fund Management.

As with its other deals, Scopia will retain complete control over its management and long/short investment process, with its management team, led by Matt Sirovich and Jeremy Mindich, remaining in place. Terms of the agreement were not disclosed.

"We believe this transaction further aligns us with our clients as 100% of the after-tax net proceeds are being reinvested into our funds," Sirovich said. "We are confident this deal further strengthens Scopia as we continue our second decade of asset management."

Scopia has about $3.4 billion in assets under management.

Dyal's deal with Scopia comes less than a month after it announced a similar agreement with Pinnacle Asset Management. The fund invested in Paris-based Capital Fund Management a year ago, and said when it closed to new investments at $1.28 billion last month that it expected to close several deals within a few months.

All told, Dyal will invest in between 12 and 15 hedge fund managers.


In Depth

Will Liquid Alts’ Performance Sustain Future Asset Flows?

Aug 25 2014 | 10:34am ET

Liquid alternative investment funds saw the highest percentage of capital inflows...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.