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Alternative Market Briefing

Dyal Capital buys minority stake in alternative asset manager H.I.G

Monday, August 08, 2016

Benedicte Gravrand, Opalesque Geneva:

Dyal Capital Partners III, a permanent capital vehicle managed by Neuberger Berman, has bought a minority stake in H.I.G. Capital, a global private equity and alternative asset investment firm with more than $20bn of equity capital under management.

Dyal has acquired a passive non-voting stake, representing less than 15% of the economic interests of the firm.

This access to permanent capital will allow H.I.G to more quickly and effectively achieve the its strategic growth objectives. The proceeds will be primarily used to increase the firm’s investments in its own funds and to seed and fund a number of growth initiatives, to further capitalise on its position in the small and mid-cap market.

Founded in 1993 and headquartered in Miami, H.I.G. manages a series of funds across private equity, credit, and real estate strategies in the US, Europe, and Latin America.

Dyal Capital Partners III acquires minority equity interests in institutional alternative asset management businesses worldwide. Established in 2011, it manages three independent permanent capital funds and has 18 minority partnerships. For example, it bought a 20% stake in activist hedge fund firm Jana Partners worth $2bn in March, and a stake in the $12bn Halcyon Asset Management in 2013.

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