Private equity fund Dyal Capital Partners acquired a minority equity ownership stake in Starwood Capital Group.
Spokesmen from both companies confirmed the deal, but said terms are not being disclosed.
Starwood Capital manages about $53 billion in alternative investment strategies, including global real estate, energy infrastructure, and oil and gas, primarily for an institutional client base. Barry Sternlicht will remain the firm’s chairman and CEO, a Starwood Capital news release said.
“Proceeds from the investment will be used in part by Starwood Capital Group to fund its strategic growth initiatives worldwide,” according to the release.
Dyal Capital Partners is a unit of Neuberger Berman that focuses on the acquisition of minority equity stakes in alternative investment management companies. The Dyal investment team has completed 17 transactions in firms from three private equity funds with aggregate assets of more than $6 billion since the unit was launched in 2011.
