- Schlitt joined Credit Suisse in 2000
- Worked out of Dallas on Southeast, Southwest U.S.
- David Klein earlier was named co-head of private fund group
Ryan Schlitt, a longtime executive with Credit Suisse’s Private Funds Group, left the firm, Schlitt and a separate source confirmed for Buyouts.
Schlitt, a managing director who worked at the firm since 2000, had his last day on May 31, the source said.
“I look forward to continuing to serve the dynamic alternative investment industry as an entrepreneur,” Schlitt said.
Schlitt worked out of Dallas and was responsible for the U.S. Southeast and Southwest, as well as client development in Central and South America, according to Schlitt’s biography in a North Carolina Treasury report.
Credit Suisse is hiring for another professional to work out of Dallas, the source said.
Schlitt departs as the bank promoted David Klein to co-head of the private fund group, Buyouts reported May 3, citing an internal memo. Klein moved into the co-head role alongside Mike Murphy and Kevin Naughton.
Over the past two years, Credit Suisse has made numerous hires to the platform, including Vice President Lauren Brants and Directors Imran Hameed, Louis Kleist, Jennifer Lu, Howard Searing, Sameer Shamsi, Sprague Von Stroh, Eric Sun and Jerome Wallace, according to the memo.
The current team has 78 professionals, the memo said. The platform has raised more than $520 billion for more than 380 funds since 1994. Last year, the group held closings on 18 funds totaling $29 billion, the memo said.
Update: This report was updated with a comment from Ryan Schlitt.
Action Item: Check out Buyouts’ Q&A with Kevin Naughton from 2017: https://bit.ly/2GZBgEQ