(Bloomberg) -- Dyal Capital, the investing unit owned by Blue Owl Capital Inc., is seeking to raise $13 billion for its sixth investment fund, according to people familiar with the firm’s plans.
Dyal, which backs other asset managers and offers financing to private equity firms, is setting another record target similar to the fund’s predecessor, the people said, asking not to be identified because the information is private. Capital-raising efforts and outreach to limited partners began this month, one of the people said.
A representative for Blue Owl declined to comment.
Founded in 2010, Dyal’s business providing capital to the business world’s top institutional investors has risen to the forefront as general partners have looked for alternatives to traditional financing options. According to parent company Blue Owl’s website, the unit has roughly $49.2 billion in managed assets.
Since its inception, Dyal has backed firms including Robert F. Smith’s Vista Equity Partners, CVC Capital Partners, Iconiq Capital and financial services investor TowerBrook Capital Partners.
Watch: Blue Owl’s Lipschultz on Private Markets, Real Estate (Video)
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