Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Credit Suisse selling old private equity assets

December 3, 2013: 2:08 PM ET

Credit Suisse continues to shed private equity assets.

131203135523-credit-suisse-620xa
FORTUNE -- Credit Suisse (CS) has agreed to sell its remaining limited partnership interests in DLJ Merchant Banking Partners, a private equity group that it originally acquired via the bank's 2000 purchase of Donaldson, Lufkin & Jenrette. The buyer is Coller Capital, a private equity firm focused on secondary transactions.

Bloomberg News had reported on negotiations back in July, and yesterday the Federal Trade Commission disclosed that the deal has received early antitrust approval.

The securities being sold appear to be LP interests in DLJ Merchant Banking Partners IV, a $2.1 billion private equity fund raised in 2008. Bloomberg had originally reported that the fund's remaining management team -- including managing director Nicole Arnaboldi -- would leave Credit Suisse to form a new firm that would manage the assets on Coller's behalf. But I'm also hearing the possibility that these folks will remain with Credit Suisse, with the bank continuing to serve as the fund's general partner (thus collecting carried interest and various fees from Coller).

No word on what Coller is paying for the LP positions, or the fund's remaining net asset value.

Both Credit Suisse and Coller Capital have thus far declined to comment.

Sign up for Dan Primack's daily email newsletter on deals and deal-makers: GetTermSheet.com

Join the Conversation
About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

Email a Tip | @danprimack | RSS
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.