Credit Suisse Affiliate Buys Piece Of Lucidus

May 4 2011 | 12:22pm ET

Credit Suisse Group's Asset Management Finance has bought a minority stake in hedge fund Lucidus Capital.

London-based Lucidus, a long/short credit hedge fund with $1.8 billion in assets under management, is AMF's second investment in Europe and its 22nd stake in an asset manager. The deal, terms of which were not disclosed, will not change the operations of the two-year old firm, headed by Darryl Green and Geoffrey Sherry, nor will it affect the minority stake owned by hedge fund Caxton Associates.

Green and Sherry will retain majority ownership of the firm, which also has offices in New York.

"This investment in a high quality European alternative asset manager further diversifies our portfolio by geography and by asset class," AMF CEO Brian Finn said. "AMF continues to look for growth opportunities in Europe. We are delighted to have Lucidus in the AMF family."

"This transaction will allow us to broaden share ownership amongst the partners while enhancing our own invested capital in the funds, which aligns us more closely with our clients," Christon Burrows, co-CEO of Lucidus, added. "AMF's financial resources, global reach and industry knowledge are well suited to help position Lucidus for the next stage of its successful development."

Luicidus is the second deal struck by AMF this year; in January, it bought a minority stake in Brigade Capital Management. The firm has also been in talks with fund of hedge funds firm Rock Creek Group.


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