Diamond Castle Holdings, an investment firm set up by the former global head of private equity at Credit Suisse, has made its second acquisition since the start of this month.

Diamond Castle was founded in 2004 by Larry Schloss, the former global head of the private equity arm at Credit Suisse and chairman of DLJ Merchant Banking Partners, and four former managing directors of DLJ Merchant Banking. The private equity firm focuses on investments in the power, financial services, media, telecoms and healthcare sectors and is raising its first fund.