Hentsu scores funding

Hentsu, a provider of public cloud technology to hedge funds and asset managers, has raised an undisclosed amount of funding. The lead investor was Credit Suisse Asset Management’s NEXT Investors. Falconwood Corporation and Raptor Group Holdings also participated in the financing. PRESS RELEASE New York, October 11, 2018 – Hentsū, a leading provider of fully managed cloud-based online solutions for hedge funds and asset managers, announced today an investment round led by Credit Suisse Asset Management’s NEXT Investors. Additional investors include the Falconwood Corporation, an investment banking firm backed by the family office of Dr. Henry Jarecki, and Raptor Group Holdings, a private investment company backed by the family office of Jim Pallotta. The investment primarily will be used to drive the expansion of Hentsū’s product offering and sales and marketing efforts. Founded in 2015 in London, Hentsū is a unique provider of cloud-based solutions to the hedge fund
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Credit Suisse taps veteran Eric Varvel as global head of asset management

Credit Suisse announced the addition of Eric Varvel to its international wealth management division, effective June 1, 2016. Varvel will succeed Bob Jain as global head of asset management, reporting to Iqbal Khan, CEO of international wealth management. A twenty-five year veteran of Credit Suisse, Varvel has held several senior roles at the company, including in the Asia Pacific region. Press Release Eric Varvel will join the International Wealth Management (IWM) division as Global Head of Asset Management, effective June 1, 2016, succeeding Bob Jain. He will report to Iqbal Khan, CEO of International Wealth Management, and he will be a member of IWM’s Management Committee. Eric Varvel will be based in New York and spend a significant portion of his time in Switzerland and in various emerging markets, including in the Asia Pacific region, to drive forward the further development of our global Asset Management franchise. Iqbal Khan, CEO of International Wealth
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DLJ Merchant Banking Partners spins out from Credit Suisse

DLJ Merchant Banking Partners, Credit Suisse‘s mid-market leveraged buyout business, has spun off into an independent advisory firm, aPriori Capital Partners, established by the existing DLJ MBP management team led by Colin Taylor and Susan Schnabel. aPriori Capital will manage the DLJ Merchant Banking Partners III, L.P. and DLJ Merchant Banking Partners IV, L.P. private equity funds (together with related vehicles, the MBP Funds), collectively representing approximately $2 billion of value across 22 portfolio companies as of December 31, 2013.

PRESS RELEASE

Credit Suisse today announced that DLJ Merchant Banking Partners (“DLJ MBP”), the bank’s mid-market leveraged buyout business, has spun off into an independent advisory firm, aPriori Capital Partners L.P. (“aPriori Capital”), established by the existing DLJ MBP management team led by Colin Taylor and Susan Schnabel.

aPriori Capital will manage the DLJ Merchant Banking Partners III, L.P. and DLJ Merchant Banking Partners IV, L.P. private equity funds (together with related vehicles, the “MBP Funds”), collectively representing approximately $2 billion of value across 22 portfolio companies as of December 31, 2013. Colin Taylor and Susan Schnabel, Co-Heads of DLJ MBP, will continue to manage the MBP Funds and lead aPriori Capital. All other investment professionals comprising the DLJ MBP management team are joining aPriori. As the new general partner and investment manager of the MBP Funds, aPriori is expected to be a strong platform for the DLJ MBP team to manage and maximize the value of the MBP Funds as well as raise capital in the future. The new firm will continue to operate from offices in New York, Los Angeles and London.

Nicole Arnaboldi, Vice Chairman of Credit Suisse’s Asset Management business, said, “We are pleased to have completed this spin-off and are grateful for the efforts and performance of the team over many years at DLJ and Credit Suisse. We wish aPriori Capital much success in the future.”

“The team is excited by the opportunity to establish an independent fund advisory business and a new platform for the future. We appreciate the strong support we have received from our investors throughout this transition and in particular would like to thank Credit Suisse for their partnership and support over the past 14 years,” said Colin Taylor and Susan Schnabel, Co-Heads of aPriori Capital.

This spin-off is part of Credit Suisse’s previously announced divestment plans.

Credit Suisse AG
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse is able to offer clients its expertise in the areas of private banking, investment banking and asset management from a single source. Credit Suisse provides specialist advisory services, comprehensive solutions and innovative products to companies, institutional clients and high net worth private clients worldwide, and also to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,000 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

aPriori Capital Partners
aPriori Capital Partners is a leveraged buyout fund advisor that completed its spin-out from Credit Suisse on 31 March 2014. Formerly known as DLJ Merchant Banking Partners, the firm is focused on mid-market opportunities in the US and Europe and manages the DLJ Merchant Banking Partners III, L.P. and DLJ Merchant Banking Partners IV, L.P. private equity funds. These funds collectively represent approximately $2 billion of value across 22 portfolio companies as of December 31, 2013. The firm is headed by former DLJ Merchant Banking co-heads Colin Taylor and Susan Schnabel and operates from offices in New York, Los Angeles and London.

Cautionary statement regarding forward-looking information
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, in the future we, and others on our behalf, may make statements that constitute forward-looking statements. Such forward-looking statements may include, without limitation, statements relating to the following:

•our plans, objectives or goals;
•our future economic performance or prospects;
•the potential effect on our future performance of certain contingencies; and
•assumptions underlying any such statements.
Words such as “believes,” “anticipates,” “expects,” “intends” and “plans” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. We do not intend to update these forward-looking statements except as may be required by applicable securities laws. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include:

•the ability to maintain sufficient liquidity and access capital markets;
•market and interest rate fluctuations and interest rate levels;
•the strength of the global economy in general and the strength of the economies of the countries in which we conduct our operations, in particular the risk of continued slow economic recovery or downturn in the US or other developed countries in 2012 and beyond;
•the direct and indirect impacts of continuing deterioration or slow recovery in residential and commercial real estate markets;
•adverse rating actions by credit rating agencies in respect of sovereign issuers, structured credit products or other credit-related exposures;
•the ability to achieve our strategic objectives, including improved performance, reduced risks, lower costs, and more efficient use of capital;
•the ability of counterparties to meet their obligations to us;
•the effects of, and changes in, fiscal, monetary, trade and tax policies, and currency fluctuations;
•political and social developments, including war, civil unrest or terrorist activity;
•the possibility of foreign exchange controls, expropriation, nationalization or confiscation of assets in countries in which we conduct our operations;
•operational factors such as systems failure, human error, or the failure to implement procedures properly;
•actions taken by regulators with respect to our business and practices in one or more of the countries in which we conduct our operations;
•the effects of changes in laws, regulations or accounting policies or practices;
•competition in geographic and business areas in which we conduct our operations;
•the ability to retain and recruit qualified personnel;
•the ability to maintain our reputation and promote our brand;
•the ability to increase market share and control expenses;
•technological changes;
•the timely development and acceptance of our new products and services and the perceived overall value of these products and services by users;
•acquisitions, including the ability to integrate acquired businesses successfully, and divestitures, including the ability to sell non-core assets;
•the adverse resolution of litigation and other contingencies;
•the ability to achieve our cost efficiency goals and cost targets; and
•our success at managing the risks involved in the foregoing.
We caution you that the foregoing list of important factors is not exclusive. When evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties and events, as well as the information set forth in our Annual Report 2012 under “Risk factors” in the Appendix.

Credit Suisse spins out DLJ Investment Partners

Credit Suisse has reached an agreement to spin off the DLJ Investment Partners business including the existing investment team led by Igor DaCosta and Charles Harper, to Portfolio Advisors. Portfolio Advisors will become the new investment manager of DLJ Investment Partners, L.P, DLJ Investment Partners II, L.P., and DLJ Investment Partners III, L.P.

PRESS RELEASE

Credit Suisse today announced that it has reached an agreement to spin off the DLJ Investment Partners business (“DLJIP”), including the existing investment team led by Igor DaCosta and Charles Harper, to Portfolio Advisors, LLC.

Portfolio Advisors, an independent, employee-owned firm that provides tailored private equity, private credit and real estate investment solutions to both institutional and high net worth clients through separately managed accounts and commingled fund-of-funds programs, will become the new investment manager of DLJ Investment Partners, L.P. (“DLJIP I”), DLJ Investment Partners II, L.P. (“DLJIP II”), and DLJ Investment Partners III, L.P. (“DLJIP III”) (collectively, the “DLJIP Funds”). Messrs. DaCosta and Harper will continue to manage the DLJIP Funds and all other investment professionals (collectively, the “DLJIP Team”) are expected to join Portfolio Advisors. No changes to the DLJIP Team are expected as a result of the spin-off.

DLJIP provides private debt and equity capital, on behalf of institutional and other investors, primarily to middle market companies in connection with the financing of leveraged buyout transactions or in support of growth, acquisition, recapitalization and refinancing activity. Since its inception in 1995, DLJIP has raised $3.6 billion of capital commitments dedicated to mezzanine investing and has completed 75 transactions across its various funds.

Nicole Arnaboldi, Vice Chairman of Credit Suisse’s Asset Management business, said, “We are pleased to have reached this agreement. We believe that Portfolio Advisors will provide a strong platform for the DLJIP Team to continue to manage the DLJIP Funds and to raise capital in the future.”

Brian Murphy of Portfolio Advisors said, “We are excited that the DLJIP Team is joining the Portfolio Advisors platform. The DLJIP Team is a group of highly talented and experienced investors and we share significant relationships across both general partners and limited partners. As a result, we view this as an important opportunity to continue to grow our firm and our franchise in private credit.”

“The DLJIP team is extremely pleased to be joining Portfolio Advisors, a highly respected name in the private equity fund investing space,” said Igor DaCosta and Charles Harper, Co-Heads of DLJIP. “Their emphasis on private equity style investing and long term approach will serve our limited partners well and should increase our mezzanine opportunity set going forward.”

This spin-off is part of Credit Suisse’s previously announced divestment plans and will facilitate the continued growth of the DLJIP business in light of the changing regulatory environment. This transaction is subject to customary closing conditions, including the approval of limited partners, and is expected to close by the end of 2013.

Credit Suisse AG
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as “Credit Suisse”). As an integrated bank, Credit Suisse is able to offer clients its expertise in the areas of private banking, investment banking and asset management from a single source. Credit Suisse provides specialist advisory services, comprehensive solutions and innovative products to companies, institutional clients and high net worth private clients worldwide, and also to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,300 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York.

Portfolio Advisors, LLC
Portfolio Advisors (“PA”) is an independent, employee-owned firm that provides tailored private equity, private credit and real estate investment solutions to both institutional and high net worth clients through separately managed accounts and commingled fund-of-funds programs. PA invests on behalf of its clients across the private equity, private credit and private real estate spectrum through primary fund commitments, purchases of secondary private equity limited partnership interests and co-investments alongside well-regarded private equity sponsors. Portfolio Advisors manages over $32 billion in assets under management on behalf of over 600 limited partners and has offices in the United States, Asia and Europe Additional information about.

SOURCE Credit Suisse AG

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Credit Suisse Inks Sale of CFIG to Grosvenor Capital

Grosvenor Capital Management has agreed to buy Credit Suisse Group’s customized fund investment group. Financial terms were not announced. CFIG provides customized private equity solutions globally with approximately $18 billion of assets under management and 11 offices around the world. Goldman Sachs advised Grosvenor, while Credit Suisse’s Investment Bank was the financial advisor to Credit Suisse’s Private Banking & Wealth Management division. Evercore served as exclusive financial advisor to the CFIG management team.

PRESS RELEASE
CHICAGO and NEW YORK, Aug. 1, 2013 /PRNewswire/ – Grosvenor Capital Management, L.P. (“Grosvenor”), one of the world’s largest discretionary allocators to hedge funds, today announced an agreement to acquire the Customized Fund Investment Group (“CFIG”), a leading global private equity, infrastructure and real estate investment management company, from Credit Suisse Group AG (“Credit Suisse”) (NYSE: CS).  CFIG is one of the largest providers of customized private equity solutions globally with approximately $18 billion of assets under management and 11 offices around the world.  Following the completion of the transaction, CFIG will be renamed the GCM Customized Fund Investment Group. Terms of the transaction were not disclosed. 
“This transaction makes each firm a more valuable partner for existing clients,” said Michael Sacks, chief executive officer of Grosvenor.  “It creates a strong and diversified multi-asset alternatives platform that can support institutional investors across a range of alternative investments. The CFIG team is made up of highly talented and experienced investors who share our core values including an intense focus on investment performance, their clients and on customized solutions.  We are looking forward to joining forces with them.”  
“The CFIG team is thrilled to be joining Grosvenor, one of the most respected names in alternative investing,” said Kelly Williams, Managing Director and group head of CFIG. “What excites us most about this transaction is that it provides our clients the opportunity to work with us more broadly across the entire alternatives landscape, while maintaining the independent investment processes they value from both firms.”
“We are pleased to reach this agreement with Grosvenor; it is a great outcome for CFIG clients and employees as well as Credit Suisse and its shareholders,” said Robert Shafir, Head of Private Banking & Wealth Management at Credit Suisse. “It was a priority for Credit Suisse that CFIG find a partner that ensures continuity for both clients and employees.”
The combined firm will have over $40 billion in assets under management and 400 professionals across the globe.  CFIG’s management team is committed to making this transaction a success – all senior members of management will join the combined firm and have signed long-term commitments to remain with the combined firm.  CFIG will operate as a subsidiary of Grosvenor and maintain its New York headquarters.
The sale is part of Credit Suisse’s strategic divestment plans announced on July 18, 2012.
Goldman Sachs & Co. served as exclusive financial advisor to Grosvenor and Credit Suisse’s Investment Bank acted as exclusive financial advisor to Credit Suisse’s Private Banking & Wealth Management division in connection with the transaction.  Evercore served as exclusive financial advisor to the CFIG management team. Simpson Thacher & Bartlett LLP, Foley & Lardner LLP and Sidley Austin LLP served as legal advisors to Grosvenor; Skadden, Arps, Slate, Meagher & Flom LLP served as exclusive legal advisor to Credit Suisse; and Morgan Lewis & Bockius LLP served as exclusive legal advisor to the CFIG management team in connection with the transaction.
About Grosvenor Capital Management 
Grosvenor is a leader in the alternative investments industry. Since its inception in 1971, Grosvenor has sought to provide its clients with attractive risk-adjusted returns and outstanding client service.  Grosvenor employs over 260 people in Chicago, New York, Tokyo, Hong Kong and London. The Firm invests approximately $23 billion on behalf of its global client base across a broad range of alternative investment strategies.
About Customized Fund Investment Group 
CFIG is a leading global manager of private equity, infrastructure and real estate investment and co-investment programs. CFIG specializes in developing customized solutions that address specific needs of investors, offering comprehensive investment management services to sophisticated, active private equity investors seeking to complement existing portfolios as well as new entrants to the asset class who require assistance with asset allocation, portfolio development and administration, due diligence, and other advisory services.  
About Credit Suisse AG 
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse is able to offer clients its expertise in the areas of private banking, investment banking and asset management from a single source. Credit Suisse provides specialist advisory services, comprehensive solutions and innovative products to companies, institutional clients and high net worth private clients worldwide, and also to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,300 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

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IFC Invests $50 Million in Credit Suisse Mexico Credit Opportunities Trust

IFC, a member of the World Bank Group, has invested $50 million in the Credit Suisse Mexico Credit Opportunities Trust, a fund that helps boost financing for local companies and deepen capital markets in Mexico. Credit Suisse, through its asset management business, several Mexican pension funds, and other investors, have collectively invested almost $500 million in the trust, bringing the total capital committed to approximately $550 million.

PRESS RELEASE

IFC, a member of the World Bank Group, has invested $50 million in the Credit Suisse Mexico Credit Opportunities Trust, a fund that helps bolster financing for local companies and deepen capital markets in Mexico.

Credit Suisse, through its Asset Management business, several Mexican pension funds, and other investors, have collectively invested almost $500 million in the trust, bringing the total capital committed to approximately $550 million. The trust, established in November 2012, consists of Certificados de Capital de Desarrollo, or “CKDs,” a special type of security created by the Mexican government to facilitate funding to Mexican companies. This is IFC’s first investment in the trust.

Bob Jain, Head of Alternative Investments in Credit Suisse’s Asset Management business said: “This transaction marks one of the first times a global international investor has participated in the CKD market. This type of funding is critical to help Mexican companies expand and thrive in an environment where access to capital often can be challenging.”

Paolo Martelli, IFC’s Director of Financial Markets for Africa, Latin America, and the Caribbean, said: “As fund manager of the trust, Credit Suisse brings global knowledge and expertise and the ability to mobilize domestic institutional investors to help Mexican firms obtain financing through local capital markets. It’s great to see this type of competitive funding being made available to growing Mexican companies that are in need of financing. We hope to replicate this transaction in other emerging markets.”

The investment is part of IFC’s overall capital-markets strategy to help mobilize local institutional investors and deepen capital markets—with the aim of fostering economic growth in countries where access to capital is constrained. Though Mexico has a stable economic environment and continues to experience growth, many companies still have limited access to finance through local financial institutions.

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org.

About Credit Suisse AG
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse is able to offer clients its expertise in the areas of private banking, investment banking and asset management from a single source. Credit Suisse provides specialist advisory services, comprehensive solutions and innovative products to companies, institutional clients and high net worth private clients worldwide, and also to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,900 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

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Blackstone Inks buy of Strategic Partners

Blackstone said Monday it had agreed to buy Strategic Partners, Credit Suisse’s dedicated secondary private equity business. Financial terms weren’t announced. The sale is part of Credit Suisse’s strategic divestment plans that it announced in July. Strategic Partners has $9 billion in assets under management.

PRESS RELEASE

Blackstone (NYSE:BX) today announced an agreement with Credit Suisse to acquire Strategic Partners, Credit Suisse’s dedicated secondary private equity business with $9 billion in assets under management. The transaction is subject to customary closing conditions and is expected to close by the end of the third quarter 2013. The terms of the deal were not disclosed.

Tony James, President and Chief Operating Officer of Blackstone, said, “We are thrilled that the people of Strategic Partners are joining Blackstone. Many of us here at Blackstone were once colleagues of the Strategic Partners team, and this gives us high confidence that it will be a seamless cultural fit here at the firm. Strategic Partners complements Blackstone’s existing businesses, and we expect to be able to grow its franchise and help it enter new product areas.”

Alastair Cairns, Co-Head of Credit Suisse’s Legacy Asset Management business, added, “Strategic Partners is a leader in the secondary private equity space. We are pleased to have reached this agreement and are confident that with Blackstone, Strategic Partners will continue to build on its excellent track record.”

The sale is part of Credit Suisse’s strategic divestment plans that were announced on July 18, 2012.

Strategic Partners seeks capital appreciation through the purchase of secondary interests in high quality private equity funds from investors seeking liquidity on a fair, timely and confidential basis. From its start in 2000, it has raised over $11 billion of capital commitments, completed over 700 transactions, and acquired over 1,400 underlying limited partnership interests. Its performance has been top quartile among its peers. Strategic Partners’ team of twenty-six dedicated secondary investment professionals is headed by Stephen Can and Verdun Perry.

About Blackstone

Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-focused funds and closed-end funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.

Credit Suisse AG

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse is able to offer clients its expertise in the areas of private banking, investment banking and asset management from a single source. Credit Suisse provides specialist advisory services, comprehensive solutions and innovative products to companies, institutional clients and high net worth private clients worldwide, and also to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 47,400 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

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CS Strategic Partners Closes Fund V

CS Strategic Partners, the secondary private equity arm of Credit Suisse has reached a final close of its most recent fund, CS Strategic Partners V. The vehicle closed on capital commitments of over US $2.9 billion.

PRESS RELEASE

CS Strategic Partners, the exclusive dedicated secondary private equity arm of Credit Suisse and one of the leading secondary buyers of private equity limited partnership interests, today announced the final close of its most recent fund, CS Strategic Partners V, L.P. (together with affiliates, “SPV” or “the Fund”), with total capital commitments of over US $2.9 billion. Consistent with regulation, this capital includes over US $87 million committed by Credit Suisse and the Strategic Partner investment team.
SPV LBO Centric, SPV Real Estate and SPV Venture Secondary Funds began investing in the second half of 2011 and have to date already collectively invested or committed to invest approximately US $ 500 million to over 170 underlying funds in over 30 transactions. Strategic Partner’s pipeline is robust, with significant transaction deal flow being generated by Strategic Partner’s investment team as well as the entire Credit Suisse organization. The Fund is the fifth in a series of investment partnerships seeking capital appreciation through the purchase of secondary interests in high quality private equity funds from investors seeking liquidity. Strategic Partners has built a market reputation of fair pricing, timely and seamless transaction execution, and confidentiality with sellers.
Stephen Can, Global Head of Strategic Partners since its inception in 2000, said, “We are very pleased with our limited partner commitment to our fifth fund. From the start of its platform, Strategic Partners has raised over $11 billion of capital commitments, completed over 600 transactions, acquired over 1,400 limited partnership interests, and built a world class team currently consisting of 24 dedicated secondary investment professionals supported by over 50 accounting and product specialists. We look forward to continuing to leverage our expertise in the secondary space and to building on our strong track record as ‘secondary buyer of choice’, by transacting on a fair, timely and confidential basis.”
Credit Suisse AGCredit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 49,700 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com .
Asset Management In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including hedge funds, credit, index, real estate, commodities and private equity products, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse’s Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse’s Asset Management business is operated as a globally integrated network to deliver the bank’s best investment ideas and capabilities to clients around the world.
All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.
SOURCE Credit Suisse AG
Copyright (C) 2012 PR Newswire. All rights reserved


CS Strategic Partners Closes $2.9B Fund

CS Strategic Partners, the secondary private equity arm of Credit Suisse, has closed its newest fund – CS Strategic Partners V, L.P. – with $2.9 billion. The fund includes more than $87 million committed by Credit Suisse and the strategic partner investment team, the firm said Wednesday. -cn

PRESS RELEASE
CS Strategic Partners, the exclusive dedicated secondary private equity arm of Credit Suisse and one of the leading secondary buyers of private equity limited partnership interests, today announced the final close of its most recent fund, CS Strategic Partners V, L.P. (together with affiliates, “SPV” or “the Fund”), with total capital commitments of over US $2.9 billion. Consistent with regulation, this capital includes over US $87 million committed by Credit Suisse and the Strategic Partner investment team.

 

SPV LBO Centric, SPV Real Estate and SPV Venture Secondary Funds began investing in the second half of 2011 and have to date already collectively invested or committed to invest approximately US $ 500 million to over 170 underlying funds in over 30 transactions. Strategic Partner’s pipeline is robust, with significant transaction deal flow being generated by Strategic Partner’s investment team as well as the entire Credit Suisse organization. The Fund is the fifth in a series of investment partnerships seeking capital appreciation through the purchase of secondary interests in high quality private equity funds from investors seeking liquidity. Strategic Partners has built a market reputation of fair pricing, timely and seamless transaction execution, and confidentiality with sellers.

 

Stephen Can, Global Head of Strategic Partners since its inception in 2000, said, “We are very pleased with our limited partner commitment to our fifth fund. From the start of its platform, Strategic Partners has raised over $11 billion of capital commitments, completed over 600 transactions, acquired over 1,400 limited partnership interests, and built a world class team currently consisting of 24 dedicated secondary investment professionals supported by over 50 accounting and product specialists. We look forward to continuing to leverage our expertise in the secondary space and to building on our strong track record as ‘secondary buyer of choice’, by transacting on a fair, timely and confidential basis.”

 

Credit Suisse AGCredit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 49,700 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com .

 

Asset Management In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including hedge funds, credit, index, real estate, commodities and private equity products, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse’s Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse’s Asset Management business is operated as a globally integrated network to deliver the bank’s best investment ideas and capabilities to clients around the world.

 

All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.

 

 

 

 

 

 


Credit Suisse To Buy Minority Stake In York Capital Management For Initial $425M

Credit Suisse’s asset management division agreed to acquire a minority interest in York Capital Management, which will continue to operate independently under the leadership of founder and CEO Jamie Dina and CIO Dan Schwartz. Credit Suisse will pay an initial $425 million for its interest in York. The transaction includes an earn-out payments based on five-year financial performance.

PRESS RELEASE

Credit Suisse announced today that its Asset Management division has agreed to acquire a minority interest in York Capital Management (‘York’), a leading global hedge fund manager, based in New York.

York will continue to operate independently and will continue to be led by Jamie Dinan, founder and Chief Executive Officer, Dan Schwartz, Chief Investment Officer, and the firm’s senior management team.

Under the terms of the transaction, Credit Suisse will pay an initial USD 425 million for its interest in York. The transaction will also provide for earn-out payments based on five-year financial performance by York. The transaction will provide retention arrangements for the Chief Executive Officer, Chief Investment Officer and other senior York principals. The investment in York is a non-controlling interest in the management company, not an investment in its funds, and is consistent with the recently enacted US financial reforms. Credit Suisse expects to enter into non-exclusive arrangements to provide distribution services for York funds.

Rob Shafir, Chief Executive Officer of Credit Suisse’s Asset Management Division, said, ‘This relationship with York is an important next step in executing our growth strategy in Asset Management and extending Credit Suisse’s leadership in global alternative investments. Our clients will have access to a top-tier suite of products, independently managed by York, and benefit from using York’s proven approach that has delivered superior returns to investors across market cycles. We look forward to working with Jamie and his experienced team.’

Jamie Dinan, Chief Executive Officer of York, added, ‘We are pleased to bring our clients the advantages of a relationship with one of the world’s preeminent financial institutions and, also, to further align York’s interests with its investors by increasing our commitment to the firm through both long-term retention arrangements and capital commitments. We see tremendous opportunities in the marketplace for event-driven and credit strategies and we think our ability to capitalize on these opportunities will be enhanced by Credit Suisse’s global reach and resources, particularly in parts of the world where we are increasing our investment activity. We will continue to manage York as we always have - independently and with a disciplined, research-driven and flexible approach to investing that has enabled us to build an enduring institution and to generate superior risk-adjusted returns for our clients over the past two decades.’

Founded in 1991, York Capital Management has offices in New York, Washington, DC, London and Hong Kong. York manages approximately USD 14 billion on behalf of institutions, endowments, foundations, fund of funds, wealthy individuals and their families.

The transaction is subject to customary closing conditions, including certain regulatory approvals, and is expected to close in the fourth quarter of 2010.

Enquiries:

Suzanne Fleming, Credit Suisse AG, Tel. +1-212-325-7396, suzanne.fleming@credit-suisse.com

Mary Beth Grover, York Capital Management, Tel. +1-212-371-5999, mbg@abmac.com

Brendan McManus, York Capital Management, Tel. +1-212-371-5999, bfm@abmac.com

Credit Suisse AG

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 49,200 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Asset Management

In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including alternative investments such as, hedge funds, private equity, real estate and credit, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse’s Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse’s Asset Management business is operated as a globally integrated network to deliver the bank’s best investment ideas and capabilities to clients around the world.

All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.

York Capital Management

York Capital Management is an international private event-driven investment fund group with approximately USD 14 billion of assets under management. York Capital was founded in 1991 by Jamie Dinan and has primary offices in New York, Washington, DC, London and Hong Kong. York specializes in high quality, value oriented public and private equity investments, as well as credit securities.


Fred Terrell Rejoins Credit Suisse

Fred Terrell has rejoined Credit Suisse as vice chairman of investment banking, effective next week. He has spent the past 12 years as co-founder, managing partner and CEO of Provender Capital Group

PRESS RELEASE

We are pleased to announce that Frederick O. Terrell has rejoined Credit Suisse as Vice Chairman of the Investment Banking Department, reporting to Jim Amine. He will be based in New York effective June 1, 2010.

Jim Amine, Managing Director and Co-Head of the Global Investment Banking Department commented, “We are delighted to be welcoming Fred back to Credit Suisse. His broad, senior level experience across the Bank’s platforms including investment banking, private equity, mortgage and asset-backed securitization, financial institutions and federal agencies give Fred a unique perspective on our Investment Banking franchise. Fred’s reputation and relationships in the broader business community will provide significant value to our business.”

Mr. Terrell said, “I am very excited to be returning to the institution where I began my career 27 years ago. This is a time of great opportunity for Credit Suisse. The continuity of its management and client-focused approach to doing business will continue to distinguish the firm and its businesses in the market. I look forward to working within the Investment Banking Department to position our franchise for future growth.”

Prior to rejoining Credit Suisse, Mr. Terrell was Managing Partner and Chief Executive Officer of Provender Capital Group, LLC, a private equity investment firm based in New York City that he co-founded in 1998. On behalf of major institutional clients, Provender’s funds invested in companies within the consumer products, financial services and media industries.

During his career, Mr. Terrell has also held a number of significant positions in the corporate governance arena, including membership on the Board of Directors for the New York Life Insurance Company, where he served as Chairman of the Investment Committee; for Wellchoice where he lead the Board’s committee that orchestrated the Company’s successful sale to Wellpoint; and for Carver Bancorp, Inc., where as Chairman of the Board, Mr. Terrell helped to lead a turnaround of the nation’s largest African American operated bank.

In addition to being a member of the University Council of Yale University and former member of the Board of Advisors at the Yale School of Management, Mr. Terrell was recently a Senior Advisor to the Financial Crisis Inquiry Commission (FCIC), established by Congress to study the causes of the recent financial disaster.

In 1983, he began his investment banking career as an Associate at The First Boston Corporation. Mr. Terrell holds a B.A. degree from La Verne College, an M.A. Degree from Occidental College, and an M.B.A. from the Yale School of Management. He was also a Coro Foundation Fellow in Public Affairs.

Credit Suisse AG

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 47,600 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Investment Banking

In its Investment Banking business, Credit Suisse offers securities products and financial advisory services to users and suppliers of capital around the world. Operating in 57 locations across 30 countries, Credit Suisse is active across the full spectrum of financial services products including debt and equity underwriting, sales and trading, mergers and acquisitions, investment research, and correspondent and prime brokerage services.


DLJ SAP Buys Into LatAm Educational Book Publisher

DLJ South American Partners has led the acquisition of a 25% stake in Grupo Santillana de Ediciones SL, a provider of educational book publishing for the Latin American market, from Grupo Prisa. The deal was valued at $370 million. Other participants included Gavea Investimentos, Highbridge Mezzanine Partners, Magna Capital, Stichting Pensioenfonds Zorg en Welzijin and DLJSAP limited partners like Albright Capital Management, Honeywell Capital Management, Partners Group and PCGI.

PRESS RELEASE

DLJ South American Partners (”DLJSAP”) announced the completion of the acquisition of a 25% interest in Grupo Santillana de Ediciones SL (”Santillana”), from Grupo Prisa (”Prisa”), for approximately US$370 million.  Santillana is the leading publisher in the educational text book and general publishing sectors in Latin America and Spain. With a presence in 22 countries, Santillana sold more than 117 million books in 2009.

DLJSAP led the investor group for the transaction, which also included Gavea Investimentos (”Gavea”), Highbridge Mezzanine Partners, Magna Capital, Stichting Pensioenfonds Zorg en Welzijin and several limited partners of DLJSAP, including Albright Capital Management, Honeywell Capital Management LLC, Partners Group, and PCGI .

As part of the investment, DLJSAP and Prisa have entered into a shareholders agreement establishing governance principles, which include the appointment by DLJSAP of two representatives to the Santillana Board of Directors.

Carlos Garcia, Co-Managing Partner of DLJSAP said: “We are very pleased to be partnering with Prisa to further expand the presence of Santillana in Latin America, and look forward to helping to consolidate its leadership in the educational and general publishing sectors in the region.  We have received a strong endorsement from our investors and other prestigious firms, demonstrating the quality of Santillana’s opportunity.”

Christopher Meyn, Head of Illiquid Strategies at Gavea, one of the largest Brazilian independent asset managers, complemented: “Gavea and DLJSAP have a long history of successful partnerships in transactions in Latin America.  We are excited to join them in this next chapter in Santillana’s corporate history.”

Ignacio Santillana del Barrio, Prisa’s General Manager added: “This transaction is part of Prisa’s previously announced strategy to incorporate capital and a strategic partner to further expand Santillana in Latin America, with a focus on Brazil and Mexico.”

Miguel Angel Cayuela, Santillana’s CEO, highlighted: “Along with DLJSAP, we have confidence in the future of educational and general publishing for both Spanish and Portuguese language markets. DLJSAP’s participation expands our capabilities to grow and capture the opportunities available in these markets”.

Santillana is a leading educational publisher and presented revenues and EBITDA of  E$ 617 million and E$ 152 million, respectively, in 2009. The company has an extensive footprint in Latin America, which generates more than two thirds of its revenues and EBITDA, and holds the #1 market share positions in educational publishing in most of the countries in which it operates.

DLJ South American Partners is a regionally dedicated private equity fund with a particular focus in the large South American markets and is led by a group of professionals with extensive experience investing private equity in the region.

Credit Suisse AG

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 48,300 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Asset Management

In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including hedge funds, credit, index, real estate, commodities and private equity products, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse’s Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse’s Asset Management business is operated as a globally integrated network to deliver the bank’s best investment ideas and capabilities to clients around the world.

All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.


Total Safety Adds On

Total Safety U.S. Inc., a Houston, Texas-based portfolio company of DLJ Merchant Banking Partners, has acquired ICU Environmental, Health & Safety, a provider of environmental, health and safety services to public and private sector clients. No financial terms were disclosed.

PRESS RELEASE

Total Safety, the global leader of integrated safety services and solutions, announces it has acquired ICU Environmental, Health & Safety, which provides a full range of environmental, health and safety services to public and private sector clients.

“We are very pleased to announce this most recent acquisition and to have the employees of ICU join Total Safety,” said David E. Fanta, Chief Executive Officer of Total Safety. “By adding this experienced team and strategic offering to our suite of services, we can provide our valued clients an even more comprehensive safety solution.”

ICU offers a variety of EHS services including industrial hygiene, safety inspections and audits, process safety management services, regulatory compliance, HSE training programs, asbestos consulting services, indoor air quality consulting, environmental due diligence assessments, environmental air permitting consulting, risk assessment and strategic environmental management advisory services. Founded in 1993, ICU is a multi-disciplinary organization dedicated to providing relevant, accurate and cost-effective business solutions to clients in both domestic and international facilities, and possesses the resources necessary to respond to all types of EHS project requirements. The Company has offices located in The Woodlands, Texas; Beaumont, Texas; and Washington, DC.

Kathy Harkey and Janet Wiiki, ICU’s co-founders, stated, “This is a very exciting time for our employees and clients. The synergy between our two companies will allow for market growth and employment opportunities, a true winning combination. The ICU team looks forward to partnering with such a dynamic team and contributing to the overall continued success of Total Safety.”

Specific financial terms of the acquisition were not disclosed.

About Total Safety

Total Safety, a DLJ Merchant Banking Partners portfolio company, based in Houston, Texas, is the world’s leading global provider of integrated safety strategies and the products necessary to support them: on-site safety services, turnaround safety support, gas detection, respiratory services, rescue services, safety training, fire services and engineered system design. Total operates from more than 60 locations in 9 countries to ensure the safe Wellbeing of Workers Worldwide (W3). www.totalsafety.com.

About DLJ Merchant Banking Partners

DLJ Merchant Banking Partners (DLJMB) is a leading private equity investor that has a 25 year record of investing in leveraged buyouts and related transactions across a broad range of industries. DLJMB, with offices in New York, London, Los Angeles and Detroit, is part of Credit Suisse’s Alternative Investments business (”AI”), one of the largest alternative asset managers in the world with more than $176 billion of assets under management.

About Credit Suisse AG

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 47,400 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.


Neil Harvey Rejoins Credit Suisse

Neil Harvey has joined Credit Suisse’s asset management group as a managing director and head of Asia-Pacific and emerging markets. He previously was with Renaissance Group as deputy CEO and chairman of international operations.

PRESS RELEASE

Credit Suisse announced today the appointment of Neil Harvey as Managing Director and Head of Asia Pacific and Head of Emerging Markets globally for Asset Management, effective February 1, 2010. He will be based in Hong Kong and will report to Robert Shafir, CEO Asset Management and Kai Nargolwala, CEO Asia Pacific.

Mr Shafir said: “Developing the Asia Pacific region and building out our global emerging markets’ offerings and clients is core to Asset Management’s growth strategy across our division and businesses.”

Mr Harvey has been involved in investment banking and asset management for over 24 years and has significant knowledge and understanding of the emerging markets. He returns to Credit Suisse from Renaissance Group, where he most recently served as their Deputy CEO and Chairman International. Prior to joining Renaissance in 2006, Neil was a founding partner of Bennelong Asset Management, a multi-strategy hedge fund focused on the Asia Pacific region.

His ten-year career at Credit Suisse spanned many roles and regions in the Investment Bank with his last role as head of the Investment Banking division and Client coverage, based in Hong Kong. During his tenure with the Bank, he also held various senior positions, including Global Head of Emerging Markets Fixed Income Distribution and ran businesses in the Middle East, Africa, Turkey and Latin America. Prior to joining Credit Suisse in 1993, Mr Harvey was at Macquarie Bank in Australia.

Mr Nargolwala added: “Given Neil’s extensive knowledge of Credit Suisse, combined with his asset management and emerging markets’ expertise operating skills and strong track record, we are confident he will play an important role in the growth of our Asset Management and Emerging Markets platforms in the region and across the Bank.”

Salman Shoaib, who has led the Asia Pacific asset management business in the last 18 months, will become Credit Suisse Head of Corporate Development for Asia Pacific, responsible for coordinating long term cross-divisional strategic development and Key Account Management planning for the Bank in Asia Pacific. In this role, he will be based in Singapore, reporting to Mr Nargolwala and Nick Adamus, Head of One Bank Collaboration and Head of Corporate Development in Zurich. In addition, Mr Shoaib will assume the role of Branch Manager for Credit Suisse AG Singapore Branch and Senior Corporate Officer for Credit Suisse (Singapore) Limited, subject to regulatory approval, reporting to Mr Nargolwala.

Credit Suisse AG

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 47,400 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Asset Management

In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including alternative investments such as private equity, hedge funds, real estate and credit, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse’s Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse’s Asset Management business is operated as a globally integrated network to deliver the bank’s best investment ideas and capabilities to clients around the world.

All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.