April 9, 2014 / 1:20 PM / 4 years ago

Credit Suisse, Stuhlberger to set up new fund venture -source

SAO PAULO, April 9 (Reuters) - Credit Suisse Group AG and Brazilian money manager Luis Stuhlberger agreed on Wednesday to set up a new asset management venture under Stuhlberger’s control, a source with direct knowledge of the plan told Reuters.

The venture, to be named Verde Asset Management, will open in January 2015, with Credit Suisse and some of Stuhlberger’s associates as minority partners, said the source, who requested anonymity because the plans were not public yet.

A spokeswoman for Credit Suisse declined to comment, but said an announcement involving Stuhlberger will be made around 11 a.m. local time (1400 GMT.)

Credit Suisse and Stuhlberger plan to propose to clients that four funds under his management be transferred, which are named Verde, Ações Long Only, Long/Short and Global, the source said. (Reporting by Guillermo Parra-Bernal; Editing by Jeffrey Benkoe)

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