Switzerland's Credit Suisse Group AG has reportedly agreed to sell its remaining limited partnership interests in DLJ Merchant Banking Partners (DLJMB). It will sell the private equity asset to investment firm Coller Capital.
According to a report by CNN Money, DLJMB was originally acquired by Credit Suisse via the bank's purchase of Donaldson, Lufkin & Jenrette in 2000. DLJMB is a private equity firm focusing on leveraged buyout transactions.
Meanwhile, Coller Capital is a British private equity firm specializing in secondary transactions, the report said.
Bloomberg News had reported the negotiations back in July. The US Federal Trade Commission on Monday disclosed that the deal has received early antitrust approval, CNN Money said.
The report said the securities being sold appear to be limited partnership interests in DLJ Merchant Banking Partners IV. Fund IV is a USD2.1 billion private equity fund raised in 2008. There is no word on what Coller is paying for the limited partnership positions or the fund's remaining net asset value, CNN Money said.
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