Credit Suisse Said To Prep Spinoff Of $1B Quant Hedge Fund Business

Aug 1 2017 | 9:22pm ET

Credit Suisse Asset Management is reportedly planning to spin out its $1 billion Quantitative and Systematic Asset Management division, home to the company’s internal Qube and QT equity-focused quant funds, later this year. 

The nearly 100-person unit will become a standalone entity through a management buyout, according to a Bloomberg article citing an individual person familiar with the matter. The company will be will be headquartered in London and operate from offices in Paris, Hong Kong and Mumbai, the article added. 

Qube officially launched as a stand-alone product in October of last year with approximately $800 million in committed capital and managed by Paris-based Pierre-Yves Morlat, who became head of Credit Suisse’s proprietary arbitrage trading for Europe and Asia in 2009. Meanwhile, Nick Branca in New York manages QT, a second quantitative equity vehicle from the division that launched in the first quarter of this year.

Additional details about the spinout, including expected timing, were not immediately available.  

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