Credit Suisse closes buyout fund on $2.1bn

DLJ Merchant Banking Partners, the private equity arm of Credit Suisse and has closed its most recent fund, DLJ Merchant Banking Partners IV, with total capital commitments of US$2.1 billion (€1.67 billion).
 
This includes $225 million committed by Credit Suisse to a side-car vehicle that the team can utilize as necessary to fund larger transactions.
 
It is the fourth in a series of investment partnerships for private equity and equity-related investments.
 
The fund has already invested or committed to invest approximately $500 million in six portfolio companies since July 2005. Its investment pipeline remains robust, the bank said, with significant deal flow being generated by the entire Credit Suisse organization as well as by the fund’s investment professionals and its partners.
 
With the closing of this latest fund, DLJMB now has US$6.8 billion in assets under management.
 
Steven Rattner, global head of the buyout team at Credit Suisse, said the bank would continue to focus its investments in North America and Europe in “lead-managed, middle-market buyout opportunities and selective co-investments in larger transactions.”
 
This focus should help Credit Suisse avoid conflict with its lucrative private equity clients.