Dyal Capital Partners, a division of Neuberger Berman, has made a minority non-voting investment in American Securities. Dyal’s investment in American Securities will result in no change in the firm’s management, strategy, investment process, or day-to-day operations.
American Securities invests in businesses with $200 million to $2 billion of revenue and $50 million to $250 million of EBITDA. Sectors of interest include industrial manufacturing, specialty chemicals, aerospace and defense, energy, business services, healthcare, media, restaurants, and consumer products. The firm has more than $23 billion of capital under management and has offices in New York and Shanghai (www.american-securities.com).
“We are delighted to welcome Dyal as an investor as we continue to grow our firm and strive to continue to achieve great results for our investors,” said Michael Fisch, CEO of American Securities.
Dyal Capital Partners, a division of Neuberger Berman Group, makes minority equity investments in institutional alternative asset management businesses worldwide. The firm’s current portfolio includes 19 minority investments in private equity firms and 14 minority investments in hedge funds. Dyal was founded in 2011 and has offices in New York, London and Hong Kong (www.dyalcapital.com). In December 2016, Dyal closed its third fund, Dyal Capital Partners III LP, with $5.3 billion of committed capital. The firm is currently raising its fourth fund.
“We are excited to partner with American Securities, a firm we have long admired for their thoughtfulness in building an enduring, values-driven institution dedicated to partnership with management teams and investors,” said Michael Rees, Head of Dyal Capital Partners.
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide with $304 billion in client assets as of June 30, 2018. The firm has offices in 18 countries and is headquartered in New York (www.nb.com).
Evercore (www.evercore.com) was the financial advisor to American Securities.
© 2018 Private Equity Professional | October 23, 2018