Credit Suisse launches PE team for minority stakes in hedge funds

Credit Suisse is launching a new private equity business to acquire minority stakes in asset managers, according to a job description the bank posted to its website.

The new team, dubbed Anteil Capital Partners, will direct minority investments in 10 to 12 “established asset managers” with an emphasis on hedge funds, according to the description.

Credit Suisse appears to have formalized the strategy recently. The bank trademarked Anteil Capital Partners with the U.S. Patent and Trademark Office on April 1.

Anteil Capital Partners will operate within the bank’s international wealth management division, which provides advisory services and investment products to private, corporate and institutional clients.

In the job description, Credit Suisse says it has already assembled a “multi-disciplinary and complimentary [sic]” group.

It’s unclear whom the bank tapped to lead Anteil Capital or when it will begin investing capital.

A spokesperson for Credit Suisse did not respond to requests for comment. Monica Richman, the attorney of record on the Anteil Capital Partners trademark, did not respond to a request for comment.

While the specifics of Anteil’s investment strategy could not be determined at press time, its mandate appears similar to that of Dyal Capital Partners.

Dyal, a Neuberger Berman subsidiary, used its first two flagship funds to acquire minority stakes in hedge fund management companies like Scopia Capital Management and Waterfall Asset Management. The firm is also a partial owner of private equity firms Vista Equity Partners and Providence Equity Partners.

Dyal is currently marketing its third fund with a $2.5 billion target. Dyal Capital Partners III had raised $1.5 billion as of February, Managing Director Michael Rees said at a recent New Mexico State Investment Council meeting.

Action Item: To see Credit Suisse’s job description, visit www.credit-suisse.com.

Photo courtesy Reuters/Stefano Rellandini