Credit Suisse Group did not need to invest in a hedge fund manager in order to broaden its product offerings.

But the bank's asset management division did agree on Sept. 14 to buy a $425 million minority stake in York Capital Management, a New York global hedge fund manager. That decision grew from a longer-term strategic view, according to Ravi Singh, a Credit Suisse managing director in its asset management division and head of alternative investments globally.

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