AlpInvest hires Credit Suisse Customized Fund CIO ahead of sale


Global private equity investment manager AlpInvest has hired a senior executive from Credit Suisse Customized Fund Investment Group (CFIC), the fund of funds unit being primed for a sale as part of the Swiss banking giant’s shift towards more liquid investments.

Nadim Barakat has joined the firm’s Investment Solutions team in the position of managing partner based in New York.

Barakat was previously a managing director and chief investment officer at Credit Suisse CFIC, where he managed its investment process and managed separate accounts that made fund, primary and co-investments in private equity, real estate and infrastructure for large institutional investors.

He joined Credit Suisse in November 2000 through its merger with Donaldson, Lufkin & Jenrette, where he had been a vice president of DLJ Merchant Banking’s customised fund investment group.

Before that, he was a founding member of the NBK Capital private equity effort and in the mergers and acquisitions department at JP Morgan Chase.

Credit Suisse announced plans in July to sell two of its five private equity divisions within its asset management arm based in New York in a bid to refocus on more liquid investments and uncertainty surrounding the Volcker Rule.

The Zurich-based bank is selling CFRIC and CS Strategic Partners – its private equity secondaries arm that earlier this year closed a $2.9bn investment fund – as part of the plan.

A spokesperson for AlpInvest did not respond to a request for further comment.

Credit Suisse could not immediately be reached for further comment on the sales.

Fortune reported in July that Barakat had resigned as a managing director at Credit Suisse Asset Management to join Carlyle Group, which bought AlpInvest in January last year from Dutch pension funds APG and PGGM.

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