Credit Suisse In Talks To Sell PE Unit To Grosvenor

Law360, New York (July 31, 2013, 4:48 PM EDT) -- European financial services giant Credit Suisse Group AG is in the latter stages of talks to sell its roughly $20 billion private equity business to Chicago-based fund of hedge funds Grosvenor Capital Management LP, according to a report Wednesday.

Credit Suisse's investment business, which is known as the Customized Fund Investment Group, has roughly $20 billion in client assets under management that are invested in private equity funds. Adding the business would nearly double the assets of Grosvenor, which has roughly $23 billion in committed capital....
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