Credit Suisse and Jefferies are planning aggressive moves in the hedge fund arena, according to the Daily Institutional Investor. Credit Suisse will emphasise individual managers as opposed to funds of hedge funds, says David Blumer, head of the bank’s investment management division. The change in strategy is based on the fact that assets will be evenly split between hedge funds and FoFs by 2010.
Jeffries will add several new services to its HF business. The bank is providing hedge fund managers’ capital and giving the funds a year to two years to demonstrate growth capacity – if promising Jefferies will market the offerings to third-part investors.