Tuesday, 26 May 2015
Last updated 5 min 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.
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…