Round Hill Capital has sold a minority stake in its business to Dyal Capital Partners, a division of Neuberger Berman.
Round Hill said that the investment would allow it “to continue to focus on penetrating its real estate markets alongside our institutional investor base and to continue to expand into new sectors and global locations”.
Its stake in the €6.5bn (£5.7bn) fund manager is “passive” and does not carry any voting rights. There will be no change in the day-to-day operations of the business.
Dyal acquires minority equity interests in institutional alternative asset management businesses. Its parent, investment manager Neuberger Berman, manages $299bn (£226bn) of client assets.
Michael Bickford, founder and chief executive of Round Hill, said: “This marks an important new phase of Round Hill’s global expansion plans. We are proud to be partnering with Dyal, which has a successful record of backing best-in-class investment managers.
“Our target remains to expand Round Hill to be one of the pre-eminent global real estate investment firms.”
Michael Rees, head of Dyal Capital Partners, added: “Round Hill has built a market-leading global real estate platform with a proven track record of sourcing and structuring exceptional real estate investments.
Evercore and PwC advised Roundhill.
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