Affiliates of Dyal Capital Partners, L.P., a division of Neuberger Berman, made a strategic minority investment in CBF, Cerberus Business Finance, LLC, the middle-market lending platform of Cerberus Capital Management, L.P.
The terms of the transaction were not disclosed.
The company intends to use the funds to continue to grow and strengthen its U.S. middle-market lending franchise in partnership with Dyal.
Led by Daniel Wolf, CEO, Cerberus Business Finance currently manages approximately $14 billion of capital dedicated to its middle-market direct lending business. Over the past two years, CBF completed over 145 transactions, primarily as lead agent, totaling $10.7 billion of credit facilities.
The vast majority of CBF’s borrowers are owned by private equity sponsors, most of whom are repeat clients. Since the founding of its direct lending business, Cerberus Business Finance has invested over $25 billion in U.S. middle-market businesses.