(FINalternatives) Dyal Capital Partners has entered into a primary transaction with Atalaya Capital Management that will see the Neuberger Berman unit become a passive, non-voting minority partner in the alternative private credit manager.
Terms of the transaction were not disclosed, although Dyal’s typical stake is between 10% and 33%. All of the proceeds from the investment will be retained on Atalaya’s balance sheet to expand the firm’s capabilities and increase the firm’s investment alongside its investors, the company said on Wednesday.
