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Credit Suisse Hedging Griffo sheds light on Brazil's hedge fund market
30 March 2009
The Brazil based hedge fund manager, Credit Suisse Hedging-Griffo was instrumental in the launch of hedge funds in Brazil. Ian Hall speaks to the fund about its high profile joint venture with Credit Suisse, how the fund has preformed and its role in Brazil.
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Credit Suisse Hedging Griffo
hedge funds
Brazil
Before the financial crisis took its hold, the hedge fund industry in Brazil was growing at a staggering pace, from $92 billion in 2002 to $750 billion by the end of 2007 and one of the asset managers leading the charge has been Credit Suisse Hedging-Griffo (CSHG). But like the global hedge fund market, CHSG has undergone change.
In November 2007, Credit Suisse took a majority stake in then named Hedging-Griffo, having signed a purchase agreement in December 2006. Credit Suisse were sold 50% of the company plus one share, making them the controlling shareholders of the Brazilian asset manager.
Part of the agreement between the two firms was to keep the asset management business independent of the bank. Luis Damato, Partner and responsible for institutional sales at CSHG is clear about the importance of keeping the two businesses separate. He thinks it's good for a private banking institution to have...
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