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Golub Capital Announces Minority Investment by Dyal Capital

NEW YORK, August 3, 2018 – Golub Capital LLC (together with its affiliates, "Golub Capital" or the "Firm") announced today that it has sold a passive, non-voting minority stake in its management companies to Dyal Capital Partners ("Dyal"), a division of Neuberger Berman. Terms of the investment were not disclosed.

Golub Capital plans to use Dyal's investment as permanent capital to expand the Firm's capabilities to deliver distinctive, compelling and reliable financing solutions to its private equity sponsors and attractive, consistent returns for investors in its funds. All proceeds from the transaction will remain invested in the Firm. There will be no change in Golub Capital's strategy, management team, investment team, investment process or day-to-day operations as a result of the investment.

Lawrence E. Golub, CEO of Golub Capital, and David B. Golub, President of Golub Capital, said, "Dyal's investment gives us new resources to advance our mission to be the best at sponsor finance. Dyal has earned its reputation as partner of choice to best-in-class alternative investment firms. We are excited to welcome Dyal as our partner for the next phase of our growth."

Michael Rees, Head of Dyal Capital Partners, added, "Golub Capital has built a world-class franchise through its relentless focus on nurturing long-term, win-win partnerships with private equity sponsors, investors, financing partners and employees. Golub Capital's partnership orientation, competitive advantages and strong long-term track record make the firm a natural fit for our strategy of partnering with leading alternative investment firms."

J.P. Morgan Securities LLC advised Golub Capital on the transaction. Kirkland & Ellis LLP served as legal counsel to Golub Capital. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Dyal.

About Golub Capital

Golub Capital is a nationally recognized credit asset manager with over $25 billion of capital under management. For over 20 years, Golub Capital has provided credit to help medium-sized U.S. businesses grow. The firm's award-winning Middle Market Lending business provides financing for middle market companies and their private equity sponsors. Golub Capital's credit expertise also forms the foundation of its Late Stage Lending and Broadly Syndicated Loan businesses. Golub Capital has worked hard to build a reputation as a fast, reliable provider of compelling financing solutions, and the firm believes this has inspired repeat clients and investors. Today, the firm has over 350 employees with lending offices in Chicago, New York and San Francisco. For more information, please visit www.golubcapital.com.