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CSFB plans European private equity funds

The bank is honing plans to launch a series of new private equity funds dedicated for investment in Europe.

Credit Suisse First Boston (CSFB) is considering launching a series of European private equity funds over the next three years, according to the US edition of the Financial Times.

Lawrence Schloss, global head of private equity at the bank in New York, said the group intended to set up a number of private equity funds in Europe to pursue investment opportunities going forward.

CSFB's private equity arm currently manages more than $25bn worldwide. The launch of additional European funds would be to strengthen the firm’s presence in the region, said Schloss in an interview with the newspaper.

Today CSFB has a $5.4bn global buyout fund, around $1bn of which is likely to be invested in Europe. The private equity department also has a team based in London. Ultimately CSFB is keen to have a European mezzanine fund, either an international or purely European real estate fund, and a European venture capital fund, said Schloss.