Hedge Funds

Neuberger Berman unit Dyal taps $1.3bn to buy hedge fund stakes

by

Dyal Capital Partners, the private equity fund managed by US-based asset manager Neuberger Berman, has received $1.28 billion in client commitments to make minority investments in the management companies of established hedge fund firms. 

The fundraising effort exceeded Dyal’s goal of $1 billion, with the firm reporting that it has assembled a sophisticated global investor base of more than 40 institutional clients including sovereign wealth funds, public and private pensions, multi-employer pensions, insurance companies, endowments and foundations, family offices and private banks.

Dyal’s strategy is to purchase minority equity interests in a portfolio of approximately 12-15 institutional hedge fund management