John F. Powers and Anthony Maniscalco will head up a new hedge fund stake-taking business that Credit Suisse is in the process of setting up, said Justin Perras, a bank spokesman.
Further details about the new business, which has not been named, remain to be decided, Mr. Perras said.
Mr. Powers joined Credit Suisse last month, Mr. Maniscalco will start in the fourth quarter.
Mr. Powers was CEO of Stanford Management Co. for nearly 10 years until he left in March. Robert F. Wallace replaced him at the investment manager of Stanford University's $21.4 billion endowment.
Mr. Maniscalco was a managing director at Blackstone Alternative Asset Management and helped to build BAAM's hedge fund stake-taking program. He was also part of the senior management team of the hedge fund solutions business at BAAM.
Peter Rose, a BAAM spokesman, said Mr. Maniscalco will not be replaced."We have a deep bench," he said in an e-mail.
