York Capital Management gets $425 million for non-controlling minority stake
|September 19th, 2010||
|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. |
“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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