Credit Suisse Spin-Off Seeks $400 Million

Mar 12 2012 | 2:47pm ET

Credit Value Partners, a new hedge fund helmed by four former Credit Suisse employees, is open for new business.

The New York-based firm spun-off from Credit Suisse's hedge fund business in 2010. The distressed debt shop hopes to raise $400 million on top of the $500 million it already manages, it said in a Securities and Exchange Commission filing.

CVP has yet to register a sale, it said. It has a $5 million minimum investment requirement and will remain open to investors for more than a year.

The firm is headed by Donald Pollard, a former managing director at Credit Suisse. Pollard's three partners are also Credit Suisse alumni, Michael Geroux, Grant Pothast and Howard Sullivan.

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