Dyal Capital Partners’ $9 Billion Fond Formation

Fried Frank acted as counsel to Dyal Capital Partners in connection with the formation of Dyal Capital Partners IV.

Dyal Capital Partners (a division of Neuberger Berman) closed its Dyal Capital Partners IV (Fund IV) with over US$9 billion of committed capital. The fund was heavily oversubscribed at final close.

Fund IV is the largest fund ever raised to acquire minority interests in leading institutional private market firms. Fund IV’s objective is to provide passive, minority equity capital for building balance sheet capital and enabling leading firms to invest more capital alongside their investors. Fund IV will seek to make investments in private equity firms diversified by asset class, strategy, and geography.

The Fried Frank team was led by corporate partners Richard I. Ansbacher (Picture) and Matthew W. Howard and included tax partner David I. Shapiro; tax special counsel Rebecca C. Freeland and Vivian Y. Ouyang; executive compensation and ERISA special counsel Andrea L. Pollak; corporate associates Zahra Fatima, Leslie W. Hung, Alex M. Kaufman, Philip M. Lee, and Renuka Santhanagopalan; and tax associate Evan M. Quinn.

Involved fees earner: Richard Ansbacher – Fried Frank Harris Shriver & Jacobson; Zahra Fatima – Fried Frank Harris Shriver & Jacobson; Rebecca Freeland – Fried Frank Harris Shriver & Jacobson; Matthew Howard – Fried Frank Harris Shriver & Jacobson; Leslie Hung – Fried Frank Harris Shriver & Jacobson; Alex Kaufman – Fried Frank Harris Shriver & Jacobson; Philip Lee – Fried Frank Harris Shriver & Jacobson; Vivian Ouyang – Fried Frank Harris Shriver & Jacobson; Andrea Pollak – Fried Frank Harris Shriver & Jacobson; Evan Quinn – Fried Frank Harris Shriver & Jacobson; Renuka Santhanagopalan – Fried Frank Harris Shriver & Jacobson; David Shapiro – Fried Frank Harris Shriver & Jacobson;

Law Firms: Fried Frank Harris Shriver & Jacobson;

Clients: Dyal Capital Partners;