Fried Frank has advised Dyal Capital Partners, a division of Neuberger Berman, on the formation of Dyal Capital Partners III, a fund formed primarily to acquire interests in third-party private equity managers.
The fund exceeded its original fundraising target by more than USD2 billion, closing at USD5.3 billion in December 2016.
The new fund has already committed more than half its capital in six transactions, buying stakes in Vista Equity Partners, EnCap Investments, Silver Lake Technology Management, HIG Capital, Starwood Capital Group and KPS Capital Partners.
The Fried Frank team included asset management partner Richard Ansbacher and associates Alex Kaufman and Jeffrey Schatz; tax partner David Shapiro and associates Suzanne Dissinger and Rebecca Freeland; executive compensation & ERISA partner Jeffrey Ross and associate Andrea Pollak; and finance partner Craig Miller and associate Sylvie Goursaud on related financing aspects of the matter.
