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Money Management

Dyal takes minority stake in Round Hill

Dyal Capital Partners acquired a minority stake in Round Hill Capital, a news release from the London-based real estate manager said.

"This is an important milestone in the growth of the firm and marks an important new phase of Round Hill's global expansion," Michael Bickford, the firm's founder and CEO, said in the release.

Round Hill Capital has invested a total of €6.5 billion ($7.6 billion) since inception in 2002 in residential, commercial, student housing and alternative accommodations for institutional investors.

The investment is being made from Dyal Capital Partners II, which has $2.1 billion under management, said Alexander Samuelson, a spokesman for Neuberger Berman, the parent company of Dyal Capital, in an email.

Mr. Samuelson declined to comment on the terms of the deal or the size of the stake Dyal acquired.

Dyal's passive, non-voting, permanent minority stakes typically are less than 20%.