Blackstone to buy Credit Suisse private equity business

April 22 Mon Apr 22, 2013 5:48pm EDT

April 22 (Reuters) - Blackstone Group said on Monday it struck a deal to buy one of Credit Suisse's private equity businesses with $9 billion in assets under management.

The companies did not disclose the purchase price for the Swiss bank's Strategic Partners unit, which specializes in buying and selling stakes in private equity funds.

Credit Suisse in July announced that it was selling the business as part of a plan launched after the Swiss National Bank called on it to increase its capital base.