Dyal Capital takes minority stake in Pinnacle Asset

Dyal Capital Partners announced Friday that it acquired a minority stake in Pinnacle Asset Management.

Pinnacle manages $2.3 billion in commodities-oriented hedge funds of funds; its day-to-day operations will not be affected by Dyal Capital's investment, according to a news release.

Terms of the deal are not being disclosed.

Dyal Capital Partners is an institutionally oriented, $1.28 billion private equity fund managed by Neuberger Berman Group that takes 20% passive minority stakes in hedge fund managers,

“We believe 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,” said Jason Kellman, Pinnacle's chief investment officer, in the news release.

Alexander Samuelson, a Neuberger Berman spokesman, declined to comment on the deal.

Dyal Capital Partners has previously taken 20% stakes in Capital Fund Management and MAST Capital Management.

— Contact Christine Williamson at cwilliamson@pionline.com | @Williamson_PI