Wednesday, 6 May 2015
Last updated 45 min ago
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%.
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…