Blackstone Closes Deal For Credit Suisse's PE Unit

Law360, New York (August 5, 2013, 7:14 PM EDT) -- The Blackstone Group LP has closed on its acquisition of Credit Suisse AG's $10 billion dedicated secondary private equity business Strategic Partners for an undisclosed sum, Blackstone announced Monday.

The deal, which was first announced in April, is part of Credit Suisse's plans to sell its private equity fund-of-funds and secondary fund businesses. Its Strategic Partners business uses its investment partnerships to buy up secondary interests in private equity funds from investors looking to free up capital and has $10 billion in assets under management....
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