Credit Suisse Asset Management’s private fund group (PFG) has announced the formation of its Directs & Co-Investments group, as an extension of PFG’s current primary and secondary advisory business.
PFG is a global private placement and advisory group within the international wealth management division of Credit Suisse. The Directs & Co-Investments group’s mission will be to advise and assist PFG clients in the structuring and placement of private direct investments into the institutional investor market.
Credit Suisse managing director Paul Van Hook will oversee the newly-created group. Additionally, the firm has appointed Imran Hameed as a director in the Directs & Co-Investments group.
Prior to joining Credit Suisse AM, Hameed worked at Mercury Capital Advisors, a New York-based private equity placement firm, where he was a member of the transaction team placing institutional capital for clients during five years. He also held roles with Rothschild’s investment banking division for eight years.
“Since its inception, Credit Suisse’s Private Fund Group has sought to provide Limited Partners and General Partners with a diversified set of private placement services and secondary solutions,” said Kevin Naughton, co-head of the Private Fund Group at Credit Suisse Asset Management.
“Direct investing has become an increasingly significant part of investors’ approach, as they seek direct access to assets and portfolios to enhance returns and complement their existing investment strategies,” he added.
Managing director Van Hook commented: “The Directs & Co-Investments Group will capitalize on this significant industry trend, and we look forward to providing our clients with this expanded service offering, alongside our existing primary funds and secondary advisory businesses.” He added, “Imran has invaluable expertise originating, structuring and negotiating successful placements of capital, which will help us grow our Directs & Co-Investments platform in PFG and help our clients meet their direct investment needs.”
Since 2010, PFG has completed 26 transactions in the Directs & Co-Investments space for a total of $4.2bn. It has raised over $500bn for 366 funds since 1994.