The story
In 2004, DLJMB co-head Larry Schloss, along with four senior members of DLJ Merchant Banking Partners, led a spinout from Credit Suisse to form a new private equity firm which would come to be known as Diamond Castle Holdings.
In December 2006, the firm announced it had completed fundraising for a $1.85 billion private equity fund, known as Diamond Castle Partners IV (a reference to the three DLJMB funds previously raised).
From Wikipedia’s article on Diamond Castle Holdings, shared under CC BY-SA 4.0.3