Dyal raises record-setting $9 billion in latest manager stakes fund

Dyal Capital Partners announced its oversubscribed Fund IV raised more than $9 billion at the end of October – exceeding its target fund size by more than $3.5 billion – with investments in well-known private equity managers.

The New York-based division of Neuberger Berman said that the fund size swelled as investment opportunities increased and investor interest in the strategy grew. Since 2011, Dyal has specialized in providing minor equity capital to institutional alternative asset management companies.

Roughly 64% of the new fund’s capital has already been put to work in 10 investment . . .

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