DLJ Merchant Banking Partners, the LBO-focused private equity arm of Credit Suisse, has closed its latest fund, DLJ Merchant Banking Partners IV, on $2.1bn.
The $2.1bn include $225m committed by Credit Suisse to a side-car vehicle that the MBP IV team can utilise as necessary to fund larger transactions.
Steven Rattner, global head of DLJMB at Credit Suisse, said, ‘We have continued to pursue investment strategies that have been successfully employed since our formation in 1985. As a result of DLJMB’s focus on lead-managed, middle-market buy-out opportunities and selective co-investments in larger transactions, our investors continue to reap the benefits of our independent, affiliated model. DLJMB’s affiliation with Credit Suisse provides significant, high-quality deal flow as well as access to the industry expertise of Credit Suisse’s more than 1,900 investment bankers worldwide across a broad range of sectors and geographies.
‘This model has been, and continues to be, one of the key factors in the continuing success and top-quartile performance of the DLJMB funds. MBP IV, like its predecessors, will concentrate on investments in North America and Europe, seeking diversification across a wide range of sectors. We are confident that our investors and partners will enjoy the same returns that our previous funds have generated,’ Rattner continued.
Including the new fund, DLJMB now has $6.8bn in assets under management.
DLJMB, with offices in New York, London and Los Angeles, is part of Credit Suisse’s Alternative Investments business with approximately $100bn of assets under management, including $29bn of private equity assets across a global family of funds.
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