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Credit Suisse scales back private equity operation14/04/2003. Source: AltAssets. 
 Credit Suisse has cut five of its Swiss private equity firm's seven investment professionals and suspended any further investment becoming the latest bank to scale back from the private equity market.
The private equity operation affected, known as Innoventure Capital, aimed to invest the bank's own capital in early-stage Swiss companies.
Credit Suisse will retain its existing portfolio, which will be managed by the two remaining professionals.
Credit Suisse has joined a growing trend of banks shying away private equity. UBS, Deutsche Bank, JP Morgan Chase and Credit Suisse's sister company CSFB have all reduced their exposure to the asset class in recent months.
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