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Money Management

Dyal takes stake in American Securities

Dyal Capital Partners acquired a minority ownership interest in private equity manager American Securities.

Dyal's stake is passive and non-voting, and will not affect American Securities' operations, said news release from American Securities.

Amy Harsch, a managing director at American Securities, declined to comment on the terms of the deal as did Alexander Samuelson, a spokesman for Neuberger Berman, Dyal Capital's parent company.

Dyal Capital Partners typically acquires ownership stakes of between 15% and 20% in target companies.

"We are delighted to welcome Dyal as an investor as we continue to grow our firm and strive to continue to achieve great results for our investors," said Michael G. Fisch, American Securities' CEO, in the release.

Michael D. Reese, head of Dyal Capital Partners, said in the release: "We are excited to partner with American Securities, a firm we have long admired for their thoughtfulness in building an enduring, values-driven institution dedicated to partnership with management teams and investors."

American Securities managed $17 billion in private equity strategies as of Dec. 31, according to the firm's most recent ADV filing with the Securities and Exchange Commission.