Blackstone to Acquire Credit Suisse’s Strategic Partners Business

April 24, 2013

On April 22, 2013, Blackstone announced that it had reached an agreement to acquire Strategic Partners, Credit Suisse’s secondary private equity business.

On April 22, 2013, Blackstone announced that it had reached an agreement to acquire Strategic Partners, Credit Suisse’s secondary private equity business.  The transaction is expected to close by the end of third quarter 2013, subject to customary closing conditions.  The terms of the transaction were not disclosed.  This transaction is part of Credit Suisse’s strategic divestment plans announced on July 18, 2012.  Sandler O’Neill + Partners served as independent financial advisor to the management of Strategic Partners. 

Strategic Partners purchases secondary interests in private equity from investors seeking liquidity, and has approximately $9 billion in assets under management.

To read the press release, please click here.


Categories

Investment Manager M&A, Private Equity M&A, Transactions