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In Latin America, A Spinoff From Credit Suisse Is Afoot

11 August 2011

(Wall Street Journal) August 11, 2011 – DLJ South American Partners, an affiliate of Credit Suisse Group, is spinning off to be an independent firm once its debut fund is done with its investment period, reports LBO Wire’s Sabrina Willmer. The move is being done in part to attain more of the profits and expand the firm, which will be called Victoria Capital Partners.

Credit Suisse currently owns 49% of DLJ South American Partners; the management team holds a 51% stake. The Swiss bank will hold a 24.9% interest in the new firm. Credit Suisse invested at least $25 million in the firm’s debut fund, DLJ South American Partners LP, which wrapped up at $300 million in 2008. The vehicle makes private equity investments in Argentina, Brazil and Chile.

The Morning Leverage by Mike Lucas, Private Equity Beat