Bear Acquires Crane Capital

Bear Stearns has expanded its private funds group via the acquisition of Crane Capital Associates' fund placement business. The enlarged group will be co-led by London-based Leo van den Thillart, formerly senior managing partner of Crane Capital, and New York-basedPaul Sanabria, a senior managing director of Bear Stearns Asset Management. No financial terms of the acquisition were disclosed. www.bearstearns.com