Peninsula Investimentos SA, the Brazilian asset-management firm that Credit Suisse Group AG helped create last year, raised about 3.25 billion reais ($1.3 billion) for a hedge fund that caters to high-net-worth clients.
The fund, called Peninsula Hedge Master Fundo de Investimento Multimercado, started in December and is now closed to new deposits, a filing with the Brazilian securities regulator, known as CVM, showed yesterday. The fund invests only in liquid assets such as stock, fixed-income bonds and futures markets, according to the filing.
This is the first fund for Peninsula, a partnership between Credit Suisse and a group of 16 executives including Peninsula Chief Executive Officer Antonio Quintella, who previously led the Americas for the Zurich-based bank, and Sergio Fraiman Blatyta, ex-head of proprietary trading at Banco Santander Brasil SA.
Credit Suisse Hedging-Griffo, the lender’s asset-management and private-banking subsidiary in Brazil, is among firms that are distributing the new hedge fund to clients. The fund returned 7.14 percent this year through yesterday, according to the company’s website, outpacing the 4.62 percent interbank interest rate.
Quintella, who’s also chairman of Credit Suisse Hedging-Griffo, was paid 15.6 million Swiss francs ($17 million) for 2010, making him Credit Suisse’s top-paid executive for that year.
Peninsula Investimentos declined to comment on the fund, according to an official who asked not to be named in keeping with company policy.