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Bear Stearns buys Crane Capital's fund placement business


Published : Tue, 20 Feb 2007 15:03
By : Agencies
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LONDON (AFX) - Financial services firm Bear Stearns announced that it has acquired Crane Capital Associates Inc.'s fund placement business. Terms of the deal were not disclosed.

Crane Capital is an international placement specialist for alternative asset managers, involved in buyouts, venture capital and real estate.

'Crane Capital's significant presence outside the United States will greatly enhance Bear Stearns' global platform,' said Richard Marin, head of Bear Stearns Asset Management.

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