Sunday, 14 September 2014
Last updated 2 days ago
Jul 31 2013 | 10:57am ET
Credit Suisse is poised to sell a second private-equity business, to fund of hedge fund Grosvenor Capital Management.
The bank is in advanced talks with the Chicago-based fund, The Wall Street Journal reports. A deal for Customized Fund Investment Group could be announced as soon as this week, although nothing has been finalized.
Grosvenor could pay as much as $200 million for the unit, which manages about $20 billion in assets invested in third-party p.e. funds. CFIG also has another $10 billion in commitments.
A deal would roughly double Grosvenor's size. The firm currently manages about $23 billion.
Credit Suisse announced plans to sell CFIG and a second p.e. unit, CS Strategic Partners, last year, moves designed to boost its capital and to come into compliance with new U.S. regulations limiting banks' hedge fund and private-equity activities. The bank in April agreed to sell CS Strategic, its private-equity secondaries platform, to the Blackstone Group.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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