Dyal Capital buys minority stake in H.I.G. Capital: UPDATED
Dyal Capital Partners, a unit of Neuberger Berman Group LLC, has acquired a less than 15 percent stake in H.I.G. Capital, a Neuberger spokesman confirmed. Financial terms weren’t announced but the transaction values H.I.G. at about $4.5 billion, said the Wall Street Journal, which first reported the transaction. H.I.G.’s founders, Sami Mnaymneh and Tony Tamer, both in their 50s, will continue as the firm’s majority owners, the WSJ said. In July, Dyal acquired a minority stake in Silver Lake. Dyal also took a stake in Vista Equity Partners in 2015. UPDATE: H.I.G., in a statement, said it would use proceeds from the transaction to increase investments in its own funds and "to seed and fund a number of growth initiatives."
3 August 2016•1 min read
