Saturday, 23 August 2014
Last updated 1 day ago
Aug 2 2013 | 11:15am ET
Grosvenor Capital Management has clinched a deal for Credit Suisse's third-party private equity business.
The Swiss bank will sell its Customized Fund Investment Group to the fund of hedge funds, the two firms said yesterday. Terms of the deal were not disclosed, but the price is thought to be in excess of $200 million.
CFIG has some $20 billion in assets invested with outside private-equity managers and another $10 billion in commitments. The deal thus nearly doubles Grosvenor's assets under management, currently about $23 billion.
Earlier this year, Credit Suisse agreed to sell its private-equity secondaries platform, CS Strategic, to the Blackstone Group. The bank is also winding down its Asset Management Finance unit, which invests in hedge fund managers, to come into compliance with the new U.S. Volcker rule and to meet higher capital requirements.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note