York Capital Management gets $425 million for non-controlling minority stake

September 19th, 2010
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Credit Suisse recently announced that its Asset Management division will acquire a minority interest in hedge fund manager York Capital Management. The transaction, expected to close in the fourth quarter of this year, will give the division, which manages investment vehicles for a wide range of clients across numerous investment classes, a non-controlling interest in York’s management company, according to Credit Suisse.

“This relationship with York is an important next step in executing our growth strategy in Asset Management,” stated Rob Shafir, CEO of the division. Credit Suisse will pay an initial $425 million to York and stresses that the investment is not an investment in York Capital’s funds. Instead, the deal will generate earn-out payments that will be based on York Capital’s five-year financial performance.

“We see tremendous opportunities in the marketplace for event-driven and credit strategies and we think our ability to capitalize on these opportunities will be enhanced by Credit Suisse’s global reach and resources,” commented York Capital’s founder and CEO Jamie Dinan. He added, “We will continue to manage York as we always have.” Mr. Dinan will remain at the head of York Capital Management along with Chief Investment Officer Dan Schwartz and other members of the senior management team.

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For Detailed Investor Profiles on these Investors, click below:
York Capital Management
Related People: Christian Reyntjens; Christophe Aurand; Dan Schwartz; James Dinan; Jeffrey Weber; Luis Medeiros; Michael Weinberger; William Vrattos; Zalman Jacobs
Related Entities: York Asian Opportunities; York Capital Global Value; York Capital Select; York Credit Opportunities; York Enhanced Strategies; York European Opportunities; York Multi-Strategy; York Total Return
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Investment Management and Hedge Fund Firm Mergers, Acquisitions, Spin-offs and Transactions


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