Dyal Capital Partners, a unit of Neuberger Berman Private Equity, has acquired a minority stake in KPS Capital Partners. No financial terms were disclosed.
NEW YORK, Nov. 18, 2016 /PRNewswire/ — KPS Capital Partners, LP (“KPS” or the “Firm”) announced today that Dyal Capital Partners III (“Dyal”), a permanent capital fund affiliated with Neuberger Berman Group, has made a minority investment in KPS.
Dyal has acquired a passive, non-voting ownership interest of less than 20% of the Firm. KPS looks forward to continuing to grow and strengthen its global investing franchise in partnership with Dyal.
Michael Psaros and David Shapiro, Co-Founders and Managing Partners of KPS, said, “Dyal recognized the value of and invested in the unique, operations-driven franchise and business we have built over decades. KPS will maintain complete continuity of its partnership, investment team and execution of its investment strategy, which is based on seeing value where others do not, buying right, and making businesses better.”
The terms of the transaction are private and will not be publicly disclosed.
About KPS Capital Partners, LP
KPS is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $5.5 billion of assets under management. KPS seeks to realize significant capital appreciation by making controlling equity investments in companies across a diverse range of manufacturing industries experiencing a period of transition or challenged by the need to effect immediate and significant change. KPS creates value for its investors by seeing value where others do not, buying right and making businesses better. The KPS investment strategy is based primarily upon partnering with world-class management teams to effect material and sustainable improvements in the operations of its businesses. Thereafter, KPS focuses on growing its businesses, both organically and through strategic acquisitions. The KPS Funds’ portfolio companies have aggregate annual revenues of approximately $4.5 billion, operate 93 manufacturing facilities in 23 countries, and employ approximately 40,000 associates, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
About Dyal Capital Partners
Dyal Capital Partners III, a permanent capital fund affiliated with Neuberger Berman Group, acquires minority equity interests in institutional alternative asset management businesses worldwide. The Dyal Capital Partners business, established in 2011, manages three independent permanent capital funds and has 20 existing minority partnerships. For more information, please visit www.dyalcapital.com.