Credit Suisse said Tuesday it has bought an 80 percent stake in New York-based asset manager AMF for 384 million Swiss francs (237 million euros, 348 million dollars) in new stock. The bank said it has acquired Asset Management Finance Corporation (AMF) from National Bank Financial of Canada (NBF), saying the unit has "significant opportunities for growth outside the US."
AMF was formed in 2003, and has completed 12 transactions since then with aggregate assets under management of around 50 billion dollars, and investments in a broad portfolio from emerging markets to real estate, currency, timber and wealth management.
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