Golub Capital has sold a passive, non-voting minority stake in its management companies to Dyal Capital Partners (Dyal), a division of Neuberger Berman.
Terms of the investment have not been disclosed.
Golub Capital plans to use Dyal’s investment as permanent capital to expand the Firm’s capabilities to deliver distinctive, compelling and reliable financing solutions to its private equity sponsors and attractive, consistent returns for investors in its funds. All proceeds from the transaction will remain invested in the Firm. There will be no change in Golub Capital’s strategy, management team, investment team, investment process or day-to-day operations as a result of the investment.
Lawrence E Golub, CEO of Golub Capital, and David B. Golub, President of Golub Capital, say: “Dyal’s investment gives us new resources to advance our mission to be the best at sponsor finance. Dyal has earned its reputation as partner of choice to best-in-class alternative investment firms. We are excited to welcome Dyal as our partner for the next phase of our growth.”
Michael Rees, Head of Dyal Capital Partners, adds: “Golub Capital has built a world-class franchise through its relentless focus on nurturing long-term, win-win partnerships with private equity sponsors, investors, financing partners and employees. Golub Capital’s partnership orientation, competitive advantages and strong long-term track record make the firm a natural fit for our strategy of partnering with leading alternative investment firms.”
JP Morgan Securities advised Golub Capital on the transaction. Kirkland & Ellis LLP served as legal counsel to Golub Capital. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Dyal.
