Opalesque Industry Update -- Pinnacle Asset Management, L.P. and Dyal Capital Partners announced today that Dyal has acquired a passive minority interest in Pinnacle. Pinnacle is a New York based commodities-focused alternative investments firm with approximately $2.3 billion of assets under management. |
Pinnacle will continue to be led by its existing management team and will retain complete control over its business operations and investment process.
Jason Kellman, the firm's Chief Investment Officer said: "We believe that this transaction strengthens our ability to serve our institutional investors' needs in commodities investing. Dyal's institutional scale and global scope makes it a great long-term strategic partner. We are delighted to be working with them."
"We are extremely happy to partner with Pinnacle," said Michael Rees, Senior Portfolio Manager for Dyal Capital Partners. "Given the unique and successful way the Pinnacle team invests in commodities, we believe that the partnership between our businesses provides tremendous opportunities to both Dyal and Pinnacle."
The terms of the transaction were not disclosed.