Funds of Hedge Funds

Neuberger Berman establishes unique FoHF structure


Neuberger Berman has set up Dyal Capital Partners to create a diversified portfolio of established hedge fund management companies.

However, unlike a traditional FoHF, Dyal will create a portfolio of 12 or more minority equity stakes in institutional-grade hedge fund management companies with $1.5 billion or more in assets. One of the highlights of the fund is that Dyal intends to negotiate capacity rights to provide their clients with access to a portfolio of funds that could potentially be closed to new investments.

The stakes, diversified by strategy and geography, will range from 15% to 25% of the