Dyal Capital Partners has closed its previously announced acquisition of a minority stake in TSSP, a global credit and credit-related investment firm founded by TPG. No financial terms were disclosed.
SAN FRANCISCO, June 22, 2017 /PRNewswire/ — TPG Sixth Street Partners (“TSSP”), a global credit and credit-related investment firm, and Dyal Capital Partners (“Dyal”), a division of Neuberger Berman Group, announced today that they have closed Dyal’s investment in TSSP in exchange for a passive, non-voting minority interest. All proceeds from the transaction will be retained in TSSP to expand the platform’s capability and further strengthen alignment with its investors.
Terms of the transaction were not disclosed.
Since being founded by its management team and TPG in 2009, TSSP has grown to become a leading investment platform with approximately $20 billion in assets under management. TSSP has established a global reach with offices in San Francisco, New York, London, Dallas, Houston, Boston, Luxembourg and Melbourne.
About TPG Sixth Street Partners
TPG Sixth Street Partners (“TSSP”) is the global credit and credit-related investment platform partnered with TPG. Co-founded in 2009 by Managing Partner Alan Waxman, TSSP has approximately $20 billion in assets under management. TSSP has a long-term oriented, highly flexible capital base that allows it to invest across industries, geographies, capital structures and asset classes, in distressed assets but also healthy and growth companies. TSSP’s investments are typically complex to source, analyze and execute. For more information, please visit www.tpg.com/platforms/tssp.
About Dyal Capital Partners
Dyal Capital Partners, a division of Neuberger Berman Group, seeks to acquire minority equity interests in institutional alternative asset management businesses worldwide. Dyal Capital Partners was established in 2011 and currently has 23 minority partnerships. For more information, please visit www.dyalcapital.com.
TPG is a leading global alternative asset firm founded in 1992 with approximately $72 billion of assets under management. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information please visit www.tpg.com.