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Dyal Capital poised to secure NBA Kings minority stake

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US private equity firm Dyal Capital Partners is poised to secure a five per cent equity stake in the National Basketball Association's Sacramento Kings, in a deal which would value the team at $1.5bn (€1.27bn).

According to the Wall Street Journal, an official announcement is expected later this week.

The move comes a few weeks after subsidiary Dyal HomeCourt Partners acquired a minority stake in the Phoenix Suns.

Dyal HomeCourt is managed by Dyal Capital Partners, a division of Blue Owl, the leading alternative asset manager with $52.5bn in assets, and is the only private equity fund approved by the NBA to invest in multiple franchises.

Dyal plans to build a portfolio of minority stakes in six different NBA teams, via a $1bn investment, with a goal of eventually doubling that, according to the report.

The Kings are majority owned by by Tibco Software Inc. founder Vivek Ranadivé.

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