Credit Suisse to Move Private Funds Group to First Boston Unit

Credit Suisse Group AG plans to shift an asset management business that helps buyout firms raise funds to its First Boston spinout as the firm works to reshape its investment bank after losses.

Internal discussions are taking place on moving the Private Funds Group, co-headed by David Klein in the US and Michael Murphy in London, to First Boston later this year, people with knowledge of the matter said, asking not to be identified. The group, which operates globally, raises private capital from investors such as public and private pension funds, sovereign wealth funds, endowments, fund of funds, and high ...