Private equity fund Dyal Capital Partners III acquired a minority stake in private equity firm KPS Capital Partners, said a KPS news release.
The passive, non-voting interest is less than 20%. Terms of the deal were not disclosed.
Dyal Capital is a private equity subsidiary of Neuberger Berman that focuses on the acquisition of minority equity stakes in money management companies. KPS has about $5.5 billion in assets under management.
Dyal Capital has invested with 19 other alternative money managers, said a factsheet provided by a KPS spokesman. He could not provide additional information.