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Cerberus Business Finance Raises $4.4B for U.S. Direct Lending Strategy
March 10, 2021, 08:10 AM
Cerberus Capital Management announced that its middle-market direct lending platform, Cerberus Business Finance, completed the final close of its latest flagship fund, Cerberus Levered Loan Opportunities Fund IV (âFund IVâ). Fund IV closed with $2.4 billion of equity commitments and, in total, Cerberus Business Finance raised more than $4.4 billion of equity commitments for its strategy across Fund IV and separately managed accounts. Together with additional fund-level leverage commitments, this raise brings Cerberus Business Financeâs total capital to over $20 billion.
It’s official. Dyal Capital Partners and
Owl Rock Capital are combining and going public by merging with a special purpose acquisition company. Blue Owl Capital, the resulting entity, will list on the New York Stock Exchange.
The complicated deal goes like this: Dyal, a unit of Neuberger Berman that invests in alternative-asset managers, has agreed to merge with Owl Rock, a middle-market lender that also counts Dyal as an investor, to create Blue Owl, an alternative asset manager with $45 billion in assets under management.
Blue Owl will then combine with Altimar (ticker: ATAC), a SPAC from HPS Investment Partners. Blue Owl is expected to have a $12.5 billion market capitalization. It will trade sometime during the first half of 2021 on the NYSE under the symbol OWL.