Private equity manager Dyal Capital Partners acquired a passive, non-voting, minority stake in Vector Capital, a private equity firm that invests in technology companies, Vector announced in a news release Wednesday.
The size of the stake and additional terms of the deal were not disclosed. Dyal's minority stakes are typically between 10% and 20%.
The proceeds from the transaction will be used to strengthen Vector's private equity business and accelerate the growth of its credit business.
There will be no changes to Vector's strategy, investment process or day-to-day operations as a result of the transaction. Vector Capital manages $3.8 billion in assets.
Spokesmen for Vector Capital and Dyal both declined to comment.
Dyal Capital Partners, a division of Neuberger Berman Group, focuses on acquiring minority equity in alternative money managers. It currently has 27 minority partnerships.
