Credit Suisse’s mid-market leveraged buyout business, DLJ Merchant Banking Partners (DLJ MBP), has spun off from the parent company into an independent advisory firm.
The new firm, aPriori Capital, has been created by the existing DLJ MBP management team headed by Colin Taylor and Susan Schnabel and will operate from offices in New York, Los Angeles and London.
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As part of the move, the duo will continue to manage the MBP Funds and lead aPriori Capital.
Credit Suisse said that aPriori Capital will manage the DLJ Merchant Banking Partners III, L.P. and DLJ Merchant Banking Partners IV, L.P. private equity funds together representing approximately $2 billion of value across 22 portfolio companies.
The new firm will serve as new general partner and investment manager of the MBP Funds and will be responsible for managing and maximizing the value of the MBP Funds as well as to increase capital in the future.
This spin-off is part of Credit Suisse’s divestment plans.
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By GlobalDataColin Taylor and Susan Schnabel, co-heads of aPriori Capital said: "The team is excited by the opportunity to establish an independent fund advisory business and a new platform for the future."
