Neuberger Berman’s Dyal Buys 20% Stake in Capstone
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Capstone Investment Advisors LLC, a hedge-fund firm with $2.4 billion in assets, sold a minority stake to a private-equity fund run by Neuberger Berman Group LLC, according to a letter sent to Capstone’s clients.
Dyal Capital Partners LP paid $60 million for 20 percent of Capstone, according to two people with knowledge of the transaction, who asked not to be identified because the deal is private. Dyal will be a passive investor and will have no day-to-day control of the fund, according to the letter from Paul Britton, Capstone’s chief executive officer.