According to the financial services provider, the $425 million price tag is for a minority share in the firm.
The deal includes a clause for additional pay outs based on York Capitalâs performance during five yearly intervals.
Senior executives at the firm including Jamie Dinan, founder and chief executive officer as well as Dan Schwartz, chief investment officer, are expected to remain in post following completion of the transaction.
The Swiss bank is to provide distribution services for the York fund on a non-exclusive basis as part of the arrangement.
Mr Dinan said: âWe see tremendous opportunities in the marketplace for event-driven and credit strategies and we think our ability to capitalise on these opportunities will be enhanced by Credit Suisseâs global reach and resources, particularly in parts of the world where we are increasing our investment activity.â
Rob Shafir, chief executive officer of Credit Suisse's Asset Management Division, added that the transaction is an indication of the bankâs commitment to extending its presence within âglobal alternative investmentsâ.
The deal is expected to close during the fourth quarter of 2010.
By Jim Ottewill