Monday, 25 May 2015
Last updated 2 days ago
Jul 19 2012 | 11:49am ET
Credit Suisse said it will sell a pair of private equity businesses with "limited synergies" with its other asset-management properties.
The bank told investors that the U.S.'s impending Volcker rule, which will strictly limit the amount that banks can invest in alternative investment funds, contributed to its decision. But it also dovetails with the firm's effort to increase its capital by €15.3 billion, spurred by a negative report by the Swiss National Bank.
The two units on the block are the Customized Fund Investment Group and its secondaries business, Strategic Partners. Both are based in the U.S. The former is led by Kelly Williams and has raised about US$25 billion, while the latter is headed by Stephen Can and recently closed its fifth fund with US$2.9 billion. Strategic Partners has raised about US$11 billion in the past dozen years.
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…