Dyal Capital completed a minority investment in Owl Rock Capital.

Dyal Capital, a division of Neuberger Berman, completed a minority investment in Owl Rock Capital, an alternative asset manager. Financial terms were not disclosed. Dyal’s investment provides Owl Rock with additional permanent capital to continue providing highly customized direct lending solutions to US middle-market companies. Owl Rock plans to use all proceeds from the transaction to invest in Owl Rock products, which are expected to include complimentary product launches and strategies in 2020. “This is an exciting development in the evolution of Owl Rock. Dyal has an outstanding track record of investing in established asset managers like Owl Rock and will be a terrific strategic partner as we execute on our long-term initiatives. We look forward to putting this capital to work to continue growing our platform and delivering attractive risk-adjusted returns to investors.” Doug Ostrover, Marc Lipschultz and Craig Packer, Owl Rock co-founders.