Credit Suisse is unwinding Anteil Capital Partners, the group it set up to take minority stakes in hedge-fund firms, according to people familiar with the matter.
Bloomberg News reports that the unit’s co-heads, former Stanford University endowment chief John Powers and ex-Blackstone Group LP managing director Anthony Maniscalco, are leaving the bank along with most of the team, the people said, asking not to be named because the details are private. The group was notified last week, the people said.
Anteil was courting investors to raise as much as $2 billion for a fund that would invest in 10 to 12 money managers, people familiar with the process said last year. Credit Suisse’s decision to shutter the unit was related to challenges in raising the capital, the people said.
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