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Sound Point Capital Announces Strategic Minority Investment by Dyal Capital


Sound Point Capital, LP ("Sound Point"), an alternative asset management firm with more than $11.5 billion of assets under management, announced today that it has sold a minority stake to Dyal Capital Partners II ("Dyal"), a permanent capital fund affiliated with Neuberger Berman Group.

Under the terms of the transaction, Dyal has acquired a passive non-voting minority interest in the firm. The proceeds will be used to fund growth in Sound Point’s core businesses, including an investment in the Sound Point CLO Fund, which was launched in June 2015 to address the new CLO risk retention rules.

None of the Sound Point employees will be selling any of their interests in connection with the transaction, and there will be no change in the day-to-day operations of the firm.

Stephen Ketchum, Founder and Managing Partner of Sound Point, commented: "We are delighted to welcome Dyal as a strategic investor in Sound Point. This is a significant event for our firm, and having access to Dyal’s global resources and permanent capital will enable us to take Sound Point’s market-leading credit investing platform to the next level. We look forward to a long-term, successful partnership."

Michael Rees, Head of Dyal Capital Partners, added: "We are thrilled to partner with Stephen Ketchum and the Sound Point team as they continue to build one of the leading alternative asset management firms focused on the credit markets. Sound Point has a diversified business model with a truly impressive track record of both investment performance and asset growth."

The terms of the transaction are private and are not publicly disclosed.

About Sound Point Capital

Sound Point is an alternative asset management firm founded in 2009, which currently has more than $11.5 billion of assets under management. Sound Point is majority owned by Stephen Ketchum and employees. Sound Point has particular expertise in credit strategies and manages money on behalf of institutions, pensions, foundations, insurance companies, wealth management firms, family offices and high net worth individuals. Sound Point’s strategies span the spectrum of liquid and illiquid credit alternatives and include funds and managed accounts focused on leveraged loans, CLOs, long/short credit opportunities and distressed credit. For more information, please refer to the Sound Point website at www.soundpointcap.com.

About Dyal Capital Partners

Dyal Capital Partners II, a permanent capital fund affiliated with Neuberger Berman Group, acquires minority equity interests in institutional alternative asset management businesses worldwide. The Dyal Capital Partners business was established in 2011, manages three independent permanent capital funds and has 21 existing minority partnerships. For more information, please visit www.dyalcapital.com.

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