Dyal takes minority stake in Cerberus credit arm: WSJ

Dyal Capital Partners LP, a unit of Neuberger Berman, has acquired a minority stake in the credit business of Cerberus Capital Management LP, according to the Wall Street Journal. The deal values Cerberus at $2 billion, the story said.  Cerberus business finance will use proceeds of the sale to fund operations, to partially buyout stakes held by its GPs, and to reward several professional, the WSJ said. Dyal has previously taken stakes in firms including Silver Lake and Vista Equity Partners.