US private equity firm Blackstone has acquired Strategic Partners, a Swiss fund of funds manager, from financial services group Credit Suisse.
US private equity firm Blackstone has acquired Strategic Partners, a Swiss fund of funds manager, from financial services group Credit Suisse.
Financial details of the transaction were not disclosed.
Strategic Partners is a secondary private fund of funds business, with $10 bn (€7.5 bn) in assets under management.
Strategic Partners seeks capital appreciation through the purchase of secondary interests in private equity, real estate and venture capital funds.
From its start in 2000, it has raised over $11 bn of capital commitments, completed over 700 transactions, and acquired over 1,500 underlying limited partnership interests.
Strategic Partners has a 29-strong team of dedicated secondary investment professionals which is headed by Stephen Can and Verdun Perry.
