Thursday, 27 November 2014
Last updated 1 day 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.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...