Grosvenor poised to buy private equity unit from Credit Suisse

Grosvenor poised to buy private equity unit from Credit Suisse

Chicago-based Grosvenor Capital Management LP is in advanced talks to buy a private equity unit from Credit Suisse Group AG, a person familiar with the matter said on Wednesday.

The deal, to be valued at more than $200 million in cash and other considerations, could be announced as early as this week, the Wall Street Journal earlier reported.  The transaction, if completed, could roughly double Grosvenor’s size by assets, the Journal said.

Grosvenor’s chief executive is Michael Sacks, who is also vice chairman of World Business Chicago and the closest business advisor to Chicago Mayor Rahm Emanuel.

A Credit Suisse spokeswoman declined to comment while a Grosvenor representative was not immediately available for a comment.

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