Credit Suisse’s Asset Management Finance subsidiary has purchased an interest in Daniel Stern’s Reservoir Capital.
Asset Management Finance, a subsidiary of Credit Suisse, is taking a 25% stake in Daniel Stern’s Reservoir Capital. Reservoir will get access to Credit Suisse Asset Management’s distribution capabilities and the two firms will form a joint venture to launch a new seeding fund, according to people familiar with the deal. Credit Suisse declined to comment. Stern, founder and co-chief executive of Reservoir, did not return calls.
Reservoir manages $4.5 billion and handles hedge fund and other alternative portfolios for its family office, endowment and pension fund limited partners. About 20% to 25% of Reservoir’s business involves seeding. Stern