Vista Equity Partners' management is selling a passive minority stake of less than 20% in the private equity firm to a group led by Dyal Capital Partners, a private equity subsidiary of Neuberger Berman, said Alexander Samuelson, Neuberger spokesman, in an e-mail.
Terms of the transaction are not being disclosed. Neuberger Berman executives have no further comment, Mr. Samuelson said.
Vista Equity has more than $14 billion in cumulative capital commitments.
The capital will be used to expand Vista's asset management platform, a Vista news release said.
Alan H. Fleischmann, Vista spokesman, declined to comment.