We represented the asset management division of Credit Suisse Group AG in the first alternative asset manager acquisition to be structured in compliance with the Dodd-Frank Wall Street Reform and Consumer Protection Act. Credit Suisse acquired a significant non-controlling, minority interest in York Capital Management LP for $425 million in up-front consideration, and York partners could receive additional earn-out payments based on York’s financial performance. York is a global hedge fund with approximately $14 billion in assets under management. Credit Suisse had been in discussions with York for more than a year about making an investment, but talks slowed as financial reform legislation wended its way through U.S. Congress, which was in the midst of the Volcker Rule debates and the enactment of Dodd-Frank. The acquisition was structured to address the concerns of banks relating to owning sizable investments in hedge funds.