Deals
Dyal, Petershill Team Up to Take Stake in Clearlake
- Units of Neuberger, Goldman Sachs co-investing for first time
- Clearlake closed fifth buyout fund on $3.6 billion in March
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The two largest competitors dedicated to buying stakes in alternative-asset managers are teaming up for the first time to acquire part of Clearlake Capital Group, according to people familiar with the matter.
Neuberger Berman Group’s Dyal Capital Partners and Goldman Sachs Group Inc.’s Petershill unit are nearing a deal to co-invest in a minority holding in Santa Monica-based Clearlake, said the people, who asked not to be identified as the details aren’t public. The investment will be use to fund growth at Clearlake, one of the people said. The exact size of the stake and the price paid couldn’t be learned.