Thursday, 28 August 2014
Last updated 1 hour ago
Sep 15 2010 | 8:21am ET
Credit Suisse's asset management division is acquiring a minority interest in hedge fund firm York Capital Management. Credit Suisse is paying $425 million for its stake in the firm, and will also provide for earn-out payments based on five-year financial performance by York.
York will continue to operate independently, and its top brass—Jamie Dinan, chief executive officer, and Dan Schwartz, chief investment officer—will remain at the helm, along with the rest of the firm’s senior management team.
“This relationship with York is an important next step in executing our growth strategy in asset management and extending Credit Suisse's leadership in global alternative investments," said Rob Shafir, chief executive officer of Credit Suisse’s asset management division. "Our clients will have access to a top-tier suite of products, independently managed by York, and benefit from using York’s proven approach that has delivered superior returns to investors across market cycles.”
York's Dinan added, “We see tremendous opportunities in the marketplace for event-driven and credit strategies and we think our ability to capitalize on these opportunities will be enhanced by Credit Suisse’s global reach and resources, particularly in parts of the world where we are increasing our investment activity."
York Capital Management was founded in 1991 and has offices in New York, Washington, D.C., London and Hong Kong. The firm manages approximately $14 billion.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...