Friday, 17 April 2015
Last updated 10 hours ago
Feb 17 2012 | 12:50pm ET
Credit Suisse Group has raised nearly $3 billion for its fifth secondary private equity fund.
CS Strategic Partners V will buy stakes in private equity funds on the secondary market. The Swiss bank is one of a number of secondary players seeking to ramp up activity in the space as p.e. investors seek to offload a record number of fund stakes.
Credit Suisse began marketing the fund towards the end of 2010, held its first close one year ago and began investing in July. It raised a total of $2.9 billion, only $87 million of it the bank's own capital, keeping the fund in compliance with the upcoming Volcker rule.
Credit Suisse's fourth secondary fund raised $2.6 billion at its final close four years ago.
CS Strategic V has already invested $750 million and expects to invest a further $1 billion in 2012. In addition to buying private equity stakes, the fund features a venture capital and real-estate portfolio.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…