Wednesday, 1 July 2015
Last updated 2 hours ago
Jan 27 2011 | 12:53pm 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.
May 27 2015 | 2:15pm ET
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