Blackstone May Buy Credit Suisse Private Equity Secondaries Business

Apr 2 2013 | 11:47am ET

The Blackstone Group may make a play for Credit Suisse's private-equity secondaries platform.

The Swiss bank is selling its CS Strategic Partners unit to comply with the U.S. Volcker rule, which strictly limits banks' participation in the private equity and hedge fund industries. Credit Suisse sent out marketing materials for the business late last year.

Blackstone is mulling a bid for the unit, Financial News reports. CS Strategic Partners is among the leading p.e. secondaries platforms, having debuted in 2000 and last year closing its fifth fund with $2.9 billion. That fund had an internal rate of return of 89% through June; a fund that closed in 2008 had an internal ROR of 17%.


In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of