Blackstone closes acquisition of Strategic Partners from Credit Suisse (US/CH)

Blackstone and Credit Suisse today announced that Blackstone had closed on its acquisition of Strategic Partners from Credit Suisse. Strategic Partners is a secondary private fund of funds business, with $10 billion (approx. €7.54 billion) in assets under management.

Strategic Partners seeks capital appreciation through the purchase of secondary interests in high quality private equity, real estate and venture capital funds from investors seeking liquidity on a fair, timely and confidential basis. From its start in 2000, it has raised over $11 billion (approx. €8.3 billion) of capital commitments, completed over 700 transactions, and acquired over 1,500 underlying limited partnership interests. Strategic Partners’ funds have produced top quartile private equity returns. Strategic Partners’ team of twenty-nine dedicated secondary investment professionals is headed by Stephen Can and Verdun Perry.

Source: Blackstone

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