A massive SPAC merger spurs a legal fight over Wall Street secrets.
Dyal Capital, a division of asset manager Neuberger Berman, specializes in buying minority stakes in other private investment companies. In recent years Dyal has acquired stakes in firms including Golub and Sixth Street Partners, two players in the private lending space.
Now Dyal is merging with Owl Rock Capital, another financier specializing in private lending — a deal that would create a $12.5 billion investment behemoth. The three-way deal includes Altimar Acquisition.
Golub and Sixth Street are concerned that Dyal — which has access to sensitive information about their operations and some amount of internal influence — will quickly morph from an investor and partner into a competitor. Read more.
