Hedge Funds

Ospraie to ramp up private equity with Credit Suisse

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Dwight Anderson's Ospraie Management on Wednesday announced an alliance with Credit Suisse that will enable Ospraie to expand its private equity business.

As part of the agreement, Credit Suisse will invest a minimum of $500 million with New York-based Ospraie for investment in various private equity-type opportunities in the commodities and basic industry sectors. Credit Suisse purchased a small, non-controlling interest in Ospraie Management, though terms of the deal were not disclosed. Lehman Brothers owns 20% of Ospraie.

Ospraie launched its first private equity-related fund earlier this year. That fund, Ospraie Special Opportunities, manages more than $350 million