Simpson Thacher Reps Blackstone In Credit Suisse PE Biz Buy

Law360, New York (April 22, 2013, 7:06 PM EDT) -- The Blackstone Group LP said Monday that it would acquire Credit Suisse AG's $9 billion dedicated secondary private equity business Strategic Partners for an undisclosed sum.

The sale is part of the Swiss financial giant's plans, announced in July, 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 $9 billion in assets under management.

The terms of the deal...
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