Credit Suisse Group AG is in advanced talks to sell its private equity business to Grosvenor Capital Management LP as the bank adapts to stricter rules for managing capital and risk, the Wall Street Journal reported, citing people familiar with the matter.
The business, called Customized Fund Investment Group, oversees about $20 billion in client assets invested in third-party private equity funds, the financial daily said.
The deal, to be valued at more than $200 million in cash and other considerations, could be announced as early as this week, the Journal said.
Chicago-based Grosvenor Capital is a privately owned hedge fund sponsor and manages $23 billion in client assets.
indiatimes.com
The business, called Customized Fund Investment Group, oversees about $20 billion in client assets invested in third-party private equity funds, the financial daily said.
The deal, to be valued at more than $200 million in cash and other considerations, could be announced as early as this week, the Journal said.
Chicago-based Grosvenor Capital is a privately owned hedge fund sponsor and manages $23 billion in client assets.
indiatimes.com
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