Dyal Capital Partners, a subsidiary of Neuberger Berman, has taken a passive, non-voting minority stake in alternative investment firm Owl Rock Capital Group, a joint news release said.
Terms of the deal and the size of the stake are not being disclosed. Dyal specializes in taking non-controlling minority stakes in alternative investment firms.
The Dyal transaction will provide Owl Rock with permanent capital for its middle-market direct-lending business, according to the news release.
There will be no changes in Owl Rock's management, strategy, investment process or day-to-day operations or that of its business development company, Owl Rock Capital Corp., the news release said.
Owl Rock Capital Group has about $14.6 billion in assets under management. Dyal manages about $21 billion in aggregate capital commitments.
Margaret Popper, an Owl Rock spokeswoman, declined to comment beyond the news release.