Sullivan Reps York in $425M Credit Suisse Deal

Law360, New York (September 15, 2010, 2:13 PM EDT) -- The asset management division of Swiss bank Credit Suisse Group AG has reached a deal to snap up a minority interest in global hedge fund manager York Capital Management in a $425 million transaction.

Under the terms of the agreement announced Tuesday, Credit Suisse will initially pay $425 million for an interest in the hedge fund manger. But the agreement also provides for earn-out payments based on York's five-year financial performance.

The deal comes in the wake of the newly enacted financial reform legislation, which seeks...
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