Daily News: December 27, 2017

Dyal Capital Partners Invests in Cerberus Business Finance

Dyal Capital Partners, a division of Neuberger Berman, made a strategic minority investment in Cerberus Business Finance (CBF), the middle-market lending platform of Cerberus Capital Management.

Mark Neporent, chief operating officer of Cerberus Capital Management, commented, “Dyal recognized the value and growth potential of our market-leading lending platform that we have built over the past 23 years. We look forward to continuing to grow and strengthen our U.S. middle-market lending franchise in partnership with Dyal.”

As a result of this passive non-voting minority investment, there will be no changes in the day-to-day management or operation of CBF, or to CBF’s decision-making or investment process. Additional terms of the transaction were not disclosed.

Daniel Wolf, CEO of Cerberus Business Finance, said, “Dyal’s investment validates our deliberate and long-term strategy to build an enduring middle-market lending platform. We are thrilled to partner with Dyal, who has earned a reputation for supporting best-in-class alternative investment managers.”

Michael Rees, head of Dyal Capital Partners, added, “Cerberus Business Finance is an impressive organization with a long-term proven track record of sourcing, structuring and servicing middle-market loan investments. We look forward to our partnership and the continued success and growth of this platform.”

Cerberus Business Finance currently manages approximately $14 billion of capital dedicated to its middle-market direct lending business. Over the past two years, CBF completed over 145 transactions, primarily as lead agent, totaling $10.7 billion of credit facilities.