Credit Suisse has agreed to pay $425 million in order to gain a minority interest in New York-based hedge fund manager York Capital Management, the Switzerland-based financial services company said Tuesday.

The investment in the 19-year old firm, according to Credit Suisse’s asset management division, which headed the transaction, is a “non-controlling interest in the management company, not an investment in its funds,” the press release said.

Furthermore, Credit Suisse explained that the agreement would not affect York’s management, which will continue to include founder and CEO Jamie Dinan, CIO Dan Schwartz and its senior management team.

In his comments, Rob Shafir, CEO of the money management arm, said the relationship would prove “an important next step in executing our growth strategy in Asset Management and extending Credit Suisse's leadership in global alternative investments.”

Dinan said the transaction, from his firm’s perspective, is well received and will significantly enhance its strategies and products, but added that York will continue to manage its nearly $14 billion in asset for its institution, endowment, foundation and fund of fund clients as it always has. 

“We will continue to manage York as we always have--independently and with a disciplined, research-driven and flexible approach to investing that has enabled us to build an enduring institution and to generate superior risk-adjusted returns for our clients over the past two decades," Dinan said in the announcement.

Credit Suisse’s asset management division now offers alternative, equity and fixed-income products to its clients, which range from governments, institutions, corporations and private individuals.