Bear Beefs Up Private Equity Placement With Crane Acquisition

Feb 20 2007 | 9:11am ET

Bear Stearns has remade its private equity and real estate fund placement business with the acquisition today of Crane Capital Associates. Crane’s fund placement business is to be integrated into Bear’s new private fund group, headed by Crane’s Leo van den Thillart in London and Paul Sanabria, a senior managing director at Bear Stearns Asset Management, in New York.

“Crane Capital’s significant presence outside the United States will greatly enhance Bear Stearns’ global platform and build on its capabilities in the private placement sector,” BSAM CEO Richard Marin said. In addition to London and New York, Crane’s more than 20 members work out of offices in San Francisco, Toronto, Oslo, Munich, Melbourne and Tokyo.

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