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Komfie Manalo, Opalesque Asia: Institutional alternative asset manager Dyal Capital Partners, a division of Neuberger Berman, bought a strategic minority stake in Cerberus Business Finance, LLC (CBF). Cerberus Business is the middle-market lending platform of Cerberus Capital Management, L.P.
Neuberger Berman has $284bn in AuM and manages a range of strategies-including equity, fixed income, quantitative and multi-asset class, private equity and hedge funds-on behalf of institutions, advisors and individual investors globally.
Cerberus Capital Chief Operating Officer Mark Neporent, commented, "Dyal recognized the value and growth potential of our market-leading lending platform that we have built over the past 23 years. We look forward to continuing to grow and strengthen our U.S. middle-market lending franchise in partnership with Dyal."
Under the deal, Dyal's position in CBF will be a non-voting minority investment. As such, there
will be no changes in the day-to-day management or operation of CBF, or to CBF's decision-making or investment process. Additional terms of the transaction were not disclosed.
Daniel Wolf, CEO of Cerberus Business Finance, added, "Dyal's investment validates our deliberate and long-term strategy...................... To view our full article Click here
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