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Credit Suisse closes in on purchase of Rock Creek


After months of discussions, insiders believe a deal between the bank and the $6.5 billion fund of funds could close within 10 days.

Credit Suisse is said to be close to acquiring Rock Creek Group, the Washington, D.C. fund of funds firm founded by former World Bank chief investment officer Afsaneh Beschloss. A deal between the firms could close within 10 days, according to an individual familiar with the talks, which have been ongoing since mid 2010.

If the deal is signed, Credit Suisse’s fund of funds business would be run by Rock Creek, with a small group of fund of funds employees remaining in Credit Suisse’s New York office. Beschloss, the former Treasurer and chief investment officer of the World