Brigade Sells Minority Stake To Credit Suisse Unit

Jan 27 2011 | 1:53pm ET

Hedge fund Brigade Capital Management has sold a minority stake to Credit Suisse's Asset Management Finance.

AMF's new stake—its 21st in an asset manager—is passive, the firms said in a statement. Other terms of the deal were not disclosed.

Brigade, which has almost $8 billion in assets under management, said the deal will help it hire and hold on to talent, as well as help attract institutional investors.

"We are very excited about AMF's minority owner investment in Brigade as it provides us with additional capital to fulfill certain strategic initiatives," Don Morgan, managing partner at New York-based Brigade, said. "Additionally, access to AMF's deep industry knowledge and global resources will help position Brigade for continued success."

"This deal, along with other recent investments, has significantly raised our visibility in the alternative manager space," John McAvoy, president of AMF, said. "Our goal is to have a balanced portfolio of minority stakes in traditional and alternative managers. Our recent investments have accomplished that objective."

AMF's other hedge fund investments include FX Concepts and MIR Investment Management.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain Capital: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of