Neuberger’s Dyal Extends Spree With Iconiq, TowerBrook Deals (2)

Neuberger Berman’s Dyal Capital Partners has acquired minority stakes in investment firms Iconiq Capital and TowerBrook Capital Partners.

About 10% of TowerBrook and roughly 6% of Iconiq were purchased, according to people with knowledge of the matter, who asked not to be identified because the information isn’t yet public. The TowerBrook interest was bought by Dyal’s fourth fund, and the Iconiq stake purchase was made across its fourth and fifth funds, the people said. In recent months, Dyal has backed firms including CrossHarbor Capital Partners and Veritas Capital.

“Dyal’s investment into TowerBrook’s management company will provide additional balance sheet capital, ...