March 31 (Bloomberg) -- Credit Suisse Group AG, the Zurich- based bank that has been selling businesses to raise capital, transferred its DLJ Merchant Banking Partners buyout unit to the fund’s managers.
Colin Taylor, 51, and Susan Schnabel will continue to run the private-equity business, which they renamed aPriori Capital Partners LP, Credit Suisse said today in a statement. The bank has invested in the group’s buyouts and received U.S. antitrust clearance last year to sell those interests to London-based Coller Capital Ltd.
Perrin Wheeler, a Credit Suisse spokeswoman in New York, declined to say whether the managers paid the bank for the business, which oversaw about $2 billion of investments as of Dec. 31. Neal Pomroy of aPriori Capital didn’t respond to a message seeking comment.
Switzerland’s biggest banks must meet a regulatory mandate to hold capital equal to at least 19 percent of risk-weighted assets by 2019. Credit Suisse has been selling other units and paid part of 2013 bonuses in contingent-capital securities.