CSFB expands leveraged investments group to Europe

New York, April 13 - Credit Suisse First Boston said it is expanding its Leveraged Investments Group to include the European high-yield and leveraged loan markets.

The London-based operation will manage diversified portfolios of leveraged loans, mezzanine debt and high-yield bonds.

CSFB hired Glenn Clarke from AIB Capital Markets to lead the new group.

"A key component of CSFB's business strategy is leveraging our leading franchises globally where we see market opportunity in other regions," said John Popp, managing director and global head of the Leveraged Investments Group at CSFB, in a news release. "Given the strength of our U.S. platform and the favorable market conditions in Europe, this entry into the European markets is a logical step in further strengthening CSFB's global position as a market-leading loan manager."

Clarke will start at CSFB on April 21 and report to Popp.

Further hires will be made, CSFB added.

CSFB's Leveraged Investments Group had $5.9 billion of assets under management as of the end of 2004, primarily in collateralized debt obligations.

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