Unlike many of its banking peers Credit Suisse has largely resisted reducing its presence in private equity, with the group maintaining a broad range of interests across the globe. Now it appears that regulatory concerns are beginning to bite and the group will be in line for a shake-up.

In its first quarter results yesterday, the bank stated that in line with its strategy of "moving toward a more liquid alternatives business" the bank intends to sell "certain illiquid private equity businesses" which have limited synergies with other businesses of the group.