Fund Managers

Credit Suisse sweetens terms on $2.9bn fund

The bank’s Strategic Partners team sweetened terms on its fifth secondaries fund, including not only committed capital, but fees and expenses that must be paid back to LPs, plus an 8% return, before the GP collects carried interest.

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Credit Suisse’s Strategic Partners group expanded its focus while fundraising for its fifth secondary fund, visiting regions of the world like Asia where it had not traditionally looked for capital.

While the team got some contributions in Fund V from limited partners outside the US, it did lay a foundation for relationship building that it hopes will translate into commitments to future funds, according to Stephen Can, global head of the bank’s Strategic Partners group.