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Dyal Capital Closes $12.9B Dyal V

January 11, 2023

Fried Frank acted as counsel to Dyal Capital in connection with the formation of Dyal V, Dyal's flagship GP stakes fund, which primarily focuses on acquiring minority equity interests in investment management businesses or fund sponsors. The fund held a final close in December 2022, raising aggregate commitments of $12.9 billion, significantly exceeding its $9 billion target. Fried Frank advised on the formation of the predecessor fund in the series, Dyal IV, which raised aggregate commitments of $9 billion at its final close in October 2019.

The Fried Frank team was led by corporate partner Matthew W. Howard.


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