Hedge Funds

CSFB may hive off credit fund


The managers of a credit fund launched last year by Credit Suisse First Boston's alternative investments group may already be planning their exit, with $1 billion of assets from the firm's private banking clients.

Credit Suisse is understood to be considering allowing Lispenard Street, run by Nasser Ahmad, Tim Joyce and Larry Wolfson, to spin out of the bank into an independent firm.

The last time CSFB allowed a major team to spin out was when Alan Howard launched Brevan Howard in 2003.

The latest move follows another reorganization of the bank, with all hedge fund, private equity and private