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TPG Sixth Street Partners, Dyal Capital buy minority stakes in Halcyon

Halcyon Capital Management LP, which is changing its name to Bardin Hill Investment Partners, disposed of minority stakes in the company to TPG's credit and credit-related investment platform and Dyal Capital Partners for an undisclosed sum.

TPG Sixth Street Partners is a new minority investor, while Neuberger Berman Group unit Dyal Capital provided additional capital to grow its existing minority stake.

Jason Dillow was named CEO of the rebranded company, adding to his current title as chief investment officer. Halcyon Chairman and CEO John Bader retired.

Certain Halcyon managing principals, their family members and an Alan Slifka-initiated foundation have also acquired significant equity in the firm.

Halcyon said that all of the sold equity was newly issued by the firm and no existing owners sold equity to the buyers. Current partners will continue to own a substantial majority of the firm's equity.