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Dyal Capital buys minority stake in Cerberus Capital's direct lending platform

Affiliates of Dyal Capital Partners LP, a division of Neuberger Berman Group, have made a minority investment in Cerberus Business Finance, LLC.

The companies said in a news release that it is a passive, nonvoting minority investment, without disclosing the financial terms of the transaction. The deal valued Cerberus Capital Management LP's middle-market lending platform at about $2 billion, The Wall Street Journal reported, citing "people familiar with the matter."

Cerberus Business Finance manages approximately $14 billion of capital dedicated to its middle-market direct lending business.