Dyal Capital makes minority investment in Golub Capital

All proceeds from the transaction will remain invested in the firm and there will be no change in Golub's strategy, management team nor operations as a result of the deal.

Golub plans to use Dyal's investment as permanent capital to expand the firm's capabilities.

JP Morgan Securities and Kirkland & Ellis advised Golub on this transaction, while Fried Frank Harris Shriver & Jacobson served as legal counsel to Dyal.

The firm closed its third fund, Dyal Capital Partners III, on $5.3bn in February 2017. The vehicle, backed by a global investor base that includes sovereign wealth funds, pension plans, foundations and family offices, was the largest ever raised to acquire minority interests in private market firms, according to Dyal.

The fund invests minority equity capital in private equity and hedge fund management firms to assist them with generational transfers and, more often, with the creation of balance sheet capital to achieve their strategic goals.

Unquote recently reported on the reshaping of the GP shareholding landscape and analysed specialised GP stake vehicles designed to provide significant external capital to management companies.

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• Topics
• GPs
• Funds-of-Funds
• Direct secondary
• JP Morgan
• Kirkland & Ellis