Credit Suisse’s Asset Management Division (CSAMD) has enetered into a strategic alliance with New York-based Reservoir Capital Group (Reservoir), a privately held investment firm. Through this deal CSAMD seeks attractive risk-adjusted returns primarily by identifying and capitalizing on opportunities to provide liquidity to hedge funds, hedge fund investors and other sellers, including financial institutions. This alliance is expected to enable Credit Suisse to offer clients a broader product offering, reflecting current changing and increasingly complex markets.
The company has claimed that Reservoir has an opportunistic ‘hybrid’ investment approach, investing directly in private transactions and public securities, as well as in partnership with management and investment teams through the creation of platform companies, private investment firms, and hedge funds.
Rob Shafir, CEO of the Asset Management business at Credit Suisse, said: “This venture is consistent with our strategy of allying with leading investment firms that have unique offerings and skill sets to capitalize on attractive opportunities presented in today’s global markets.”
Daniel Stern and Craig Huff, co-chief executive officers of Reservoir, said: “We believe there is a significant opportunity to provide liquidity solutions to hedge funds and certain financial institutions holding non-core, illiquid assets. This strategic alliance will enable us to leverage Credit Suisse’s global platform and its position as an investor in hedge funds to provide increased scale, resources, and sourcing capabilities to this effort.”
