Wednesday, 2 December 2015
Last updated 6 hours 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…