Blue Owl Capital’s Dyal Capital arm is in talks to acquire a stake in private equity firm PAI Partners, according to people familiar with the matter.
Dyal buys stakes in money managers, competing with businesses including Blackstone Inc. Its investments have included some of the most prominent alternative asset managers, such as Silver Lake, Starwood Capital Group and Robert Smith’s Vista Equity Partners.
Paris-based PAI, led by managing partners Richard Howell, Laurent Rivoire and Frederic Stevenin, manages more than 25 billion euros ($25.6 billion). The firm focuses on the business services, food and consumer, general industrials and health-care sectors, and has backed companies including juice maker Tropicana Brands Group and eye-care company Veonet.
Blue Owl co-president Michael Rees said on an earnings call this month that Dyal’s fifth fund will likely close later this year with more than $10.5 billion under management. The vehicle “will be a record in the GP stakes industry.”
Read more: BNN Bloomberg
