Wednesday, 30 July 2014
Last updated 10 hours ago
May 30 2014 | 12:28pm ET
Neuberger Berman’s private-equity fund investing in hedge fund has taken a minority stake in Blue Harbour Group.
The deal gives Dyal Capital Partners a roughly 20% stake in Greenwich, Conn.-based Blue Harbour, a $3 billion activist hedge fund. The stake is a passive one, with Blue Harbour maintaining control over tis investment process, The Wall Street Journal reports.
Terms of the deal were not disclosed. Blue Harbour’s partners will invest the proceeds of the sale in the firm’s funds.
“Strategically, we believe Blue Harbour’s alignment with Neuberger Berman will serve to fortify our distinctive collaborative approach,” the hedge fund wrote to clients, referring to CEO Clifton Robbins’ philosophy of being a “friendly activist.”
Dyal has invested in at least eight other hedge fund firms since it closed in December 2012, including Capital Fund Management, Halcyon Asset Management and MKP Capital Management. The $1.28 billion vehicle aims to build a portfolio of between 12 and 15 established managers.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…