Private equity firm Dyal Capital Partners has acquired a minority stake in New York-based hedge fund Scopia Fund Management.
The two firms announced in a joint statement Thursday that Scopia will continue to operate independently under the same name. After closing, Scopia’s equity will be owned solely by its management team and Dyal.
The terms of the transaction were not disclosed.
Managed by Neuberger Berman Group, $1.28 billion Dyal Capital seeks to acquire minority equity interests in institutional hedge fund firms around the world. Founded in 2001, Scopia manages approximately $3.4 billion in assets.