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Dyal Capital takes minority stake in Vista Equity

Dyal Capital Partners said Tuesday it has made a passive, minority investment in Vista Equity Partners. Financial terms weren’t announced. Vista, a technology focused private equity firm, said it will maintain complete control over its operations. Dyal Capital is the PE unit of Neuberger Berman.

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Neuberger Berman to buy Merrill Lynch Alternative’s fund of funds business

Neuberger Berman said Thursday that it has agreed to buy the private equity fund of funds business of Merrill Lynch Alternative Investments LLC. Key private equity professionals from Merrill Lynch will also be joining Neuberger Berman. The transaction is expected to close in August. Merrill Lynch Alternative Investments LLC is the alternative investment business of Bank of America Corp.

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Neuberger Berman launches PE team

Neuberger Bergman said Monday that it has formed a strategic partnership with Intesa Sanpaolo to invest in Italian companies. The JV calls for Marco Cerrina Feroni and Fabio Canè, who previously led Intesa Sanpaolo’s merchant banking and private equity operations, and several members of their team, to join Neuberger Berman. Stefano Bontempelli, a former Neuberger Berman’s European Private Equity MD, has also rejoined the firm. The execs, who are based in Milan, will be part of the global Private Equity Division, which led by Anthony Tutrone, Global Head of Neuberger Berman Private Equity.

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Neuberger Berman appoints Chen to lead Asia Pacific PE efforts

Neuberger Berman has hired Kent Chen as managing director and leader of the firm’s private equity efforts in the Asia Pacific region. Previously, Chen worked at Hong Kong Monetary Authority where his positions included deputy chief representative of the company’s New York office and advisor to the executive director for China at the International Monetary Fund in Washington, D.C.

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peHUB First Read

First Read starts your morning with news of Rakuten buying ebook and audiobook platform OverDrive for $410 million, Target says it will pay $10 million in damages to 2013 data breach victims and flagship Toys ‘R’ Us store in Times Square is closing.

SK Capital hires executive from CI Capital as CFO

SK Capital Partners has hired Jerry Truzzolino as chief financial officer from CI Capital Partners. Truzzolino previously worked at Neuberger Berman as senior vice president and co-head of the finance group. The firm also promoted Philip Marxen to principal from vice president. Marxen joined SK Capital in early 2014.

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Neuberger Berman boosts Asia team

Neuberger Berman has appointed Clifford Chiu, a former partner member at KKR, as senior adviser to Neuberger Berman Asia, effective immediately. Chiu will work across the Asia Pacific region to help Neuberger Berman build its Asian client base.

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peHUB First Read

This morning’s First Read brings you news of AnaCap’s Fund III, the launch of female outfit Aspect Ventures, a ‘one and done’ for Draper Fisher Jurvetson and an inaugural debt fund for Neuberger Berman.

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peHUB First Read

Take a break this morning with the latest news links and discover all about Warburg Pincus’ energy fund plans, Neuberger Berman’s penchant for Latin American deals, why MassPrim is topping the PE performance charts and Pinterest doing it again with its Series E.

GrandTetons

Wyoming Earmarks $600M for PE, Snubs Cheyenne Capital

The Wyoming Loan and Investment Board plans to invest $600 million into three separate managed accounts over the next three to five years, with Hamilton Lane and Neuberger Berman each managing $200 million separate accounts. PE shop Cheyenne Capital, which currently manages a separate account for Wyoming, was said to not meet the state’s new requirements due to its size.

Kasser Joins Neuberger Berman

Susan Kasser has joined Neuberger Berman as an MD and head of private debt at Neuberger Berman Alternatives. Kasser joined Neuberger Berman in March and is based in New York. Most recently, Kasser was with the Carlyle Group, where she was a founding member of Carlyle Mezzanine Partners.

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New York City Makes Mammoth $1.1B In PE Commitments

The New York City Retirement Systems, the $127 billion group of municipal pensions overseen by the city comptroller’s office, made an impressive $1.1 billion in commitments to five private equity funds in the first quarter, according to Stephanie Hoo, a senior press officer. According to sister magazine, Buyouts, the funds are managed by The Carlyle Group, Platinum Equity…

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