Blackstone Announces Acquisition of Credit Suisse’s Strategic Partners Business

  Blackstone Announces Acquisition of Credit Suisse’s Strategic Partners

Business Wire

NEW YORK -- April 22, 2013

Blackstone (NYSE:BX) today announced an agreement with Credit Suisse to
acquire Strategic Partners, Credit Suisse’s dedicated secondary private equity
business with $9 billion in assets under management. The transaction is
subject to customary closing conditions and is expected to close by the end of
the third quarter 2013. The terms of the deal were not disclosed.

Tony James, President and Chief Operating Officer of Blackstone, said, “We are
thrilled that the people of Strategic Partners are joining Blackstone. Many of
us here at Blackstone were once colleagues of the Strategic Partners team, and
this gives us high confidence that it will be a seamless cultural fit here at
the firm. Strategic Partners complements Blackstone's existing businesses, and
we expect to be able to grow its franchise and help it enter new product

Alastair Cairns, Co-Head of Credit Suisse’s Legacy Asset Management business,
added, “Strategic Partners is a leader in the secondary private equity space.
We are pleased to have reached this agreement and are confident that with
Blackstone, Strategic Partners will continue to build on its excellent track

The sale is part of Credit Suisse’s strategic divestment plans that were
announced on July 18, 2012.

Strategic Partners seeks capital appreciation through the purchase of
secondary interests in high quality private equity funds from investors
seeking liquidity on a fair, timely and confidential basis. From its start in
2000, it has raised over $11 billion of capital commitments, completed over
700 transactions, and acquired over 1,400 underlying limited partnership
interests. Its performance has been top quartile among its peers. Strategic
Partners’ team of twenty-six dedicated secondary investment professionals is
headed by Stephen Can and Verdun Perry.

About Blackstone

Blackstone is one of the world’s leading investment and advisory firms. We
seek to create positive economic impact and long-term value for our investors,
the companies we invest in, the companies we advise and the broader global
economy. We do this through the commitment of our extraordinary people and
flexible capital. Our alternative asset management businesses include the
management of private equity funds, real estate funds, hedge fund solutions,
credit-focused funds and closed-end funds. Blackstone also provides various
financial advisory services, including financial and strategic advisory,
restructuring and reorganization advisory and fund placement services. Further
information is available at Follow us on Twitter

Credit Suisse AG

Credit Suisse AG is one of the world's leading financial services providers
and is part of the Credit Suisse group of companies (referred to here as
'Credit Suisse'). As an integrated bank, Credit Suisse is able to offer
clients its expertise in the areas of private banking, investment banking and
asset management from a single source. Credit Suisse provides specialist
advisory services, comprehensive solutions and innovative products to
companies, institutional clients and high net worth private clients worldwide,
and also to retail clients in Switzerland. Credit Suisse is headquartered in
Zurich and operates in over 50 countries worldwide. The group employs
approximately 47,400 people. The registered shares (CSGN) of Credit Suisse's
parent company, Credit Suisse Group AG, are listed in Switzerland and, in the
form of American Depositary Shares (CS), in New York. Further information
about Credit Suisse can be found at

Photos/Multimedia Gallery Available:



Peter Rose, +1-212-583-5871
Oriane Schwartzman, +1-212-390-2250
Credit Suisse
Katherine Herring, +1-212-325-7545
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