On December 26, 2017, Cerberus Capital Management’s middle-market lending platform, Cerberus Business Finance, announced that affiliates of Dyal Capital Partners have made a strategic minority investment in Cerberus Business Finance.
Under the terms of the investment, affiliates of Dyal Capital Partners, L.P. (“Dyal”) will make a passive non-voting minority investment in Cerberus Business Finance, LLC (“CBF”). The existing day to day management, operations, decision-making, and investment processes of CBF will remain unchanged. Further terms of the transaction were not disclosed.
Dyal, founded in 2011, is a division of Neuberger Berman Group that specializes in acquiring minority stakes in alternative asset managers. Dyal currently has nearly $9 billion in aggregate assets under management as of September 30, 2017.
CBF, founded in 1995, is a middle market lending platform of Cerberus Capital Management, L.P. that specializes in acquisition financing, recapitalizations, working capital financings, and bridge loans, among other types of commercial loans for private equity sponsors and businesses. CBF currently has approximately $14 billion of capital under management.
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