Lumina Capital, a Brazilian alternative asset management firm founded by former Morgan Stanley Brazil head Daniel Goldberg, has acquired a minority stake in hedge fund Verde Asset Management from Credit Suisse Group, according to a report by Bloomberg.

The report cites an note issued by the fund, which was established in 1997 in Sao Paulo-based as a spin-off from Credit Suisse Hedging-Griffo and is led by the portfolio manager, Luis Stuhlberger, on Monday as confirming that the two business will continue to operate independently.

Financial terms of the deal have not been disclosed.

According to the note, UBS Group AG, which acquired Credit Suisse in March, said the bank's wealth management unit “will maintain its historical and successful relationship with Verde Asset Management, offering Verde’s funds to its Brazilian clients”.