Dyal Capital Partners, a private equity fund managed by New York-based investment management group Neuberger Berman, has bought a passive minority interest in Capital Fund Management SA (CFM) – the long-running $5 billion Paris-based quantitative hedge fund group.
Dyal is acquiring its interest from the estate of CFM’s founder, Jean-Pierre Aguilar – who died in a flying accident in 2009. The rest of Aguilar’s interest has been purchased by CFM’s senior management team, who will maintain majority ownership of the firm.
Under the terms...