Dyal III is backed by a global investor base that includes sovereign wealth funds, public and corporate pension plans, endowments, foundations and family offices.
Led by Michael Rees, Dyal provides minority equity capital to established private equity and hedge fund management companies.
The fund’s objective is to provide passive, minority equity capital to assist firms with generational transfers, and more often, in the creation of balance sheet capital to help achieve strategic goals. Ultimately, it will seek to make investments into 10-12 private equity firms diversified by asset class, strategy, and geography.
The fund has made investments in six firms to date: Vista Equity Partners, EnCap Investments, Silver Lake Technology Management, H.I.G. Capital, Starwood Capital Group, and KPS Capital Partners. Following the completion of these six transactions, Fund III has committed over 50% of the fund’s capital.
Established in 2011, Dyal currently has 20 minority partnerships.