Dyal Capital Partners, the private equity business of money manager Neuberger Berman, is acquiring a passive minority interest in alternatives money manager Chenavari Capital Partners.
London-based Chenavari Capital Partners focuses on credit, structured finance, real estate and private debt strategies and has about $5.4 billion in assets under management.
Neuberger Berman spokesman Alexander Samuelson said terms of the deal and the size of the minority stake are not being disclosed.
Dyal seeks to acquire minority stakes in alternative money managers, usually around 20%, and dedicates more than $4 billion to permanent capital investing, according to its website.
