Dyal Capital Partners, the $14 billion division of Neuberger Berman, agreed to acquire a minority stake in middle-market private equity firm Bridgepoint, a spokesman said.
The terms of the transaction were not publicly disclosed, the spokesman added. He declined to confirm the size of the interest that is being acquired.
"The investment by Dyal will allow us to accelerate our investment program in our existing business as well as to extend our middle-market presence as we assess new complementary investment and product areas," said William Jackson, managing partner at Bridgepoint, in a news release.
The European private equity firm has €28.2 billion ($32.6 billion) of committed funds and €18 billion in assets.
Neuberger Berman has $295 billion in assets under management.