Private Equity
Credit Suisse Group set out its restructuring Thursday with plans to carve out its investment bank as it seeks to raise capital of about 4 billion Swiss francs ($4.04 billion). The troubled Swiss bank, which has recently weathered various scandals, said Thursday that it will spin off the investment bank into a separate business under the resurrected CS First Boston name. Credit Suisse also expects to sell a majority of its securitized products group to a consortium led by Apollo Global Management and including Pacific Investment Management Company, or PIMCO.