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

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.


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