Compass Advisors Group, New York international merchant banking partnership, has launched Compass Partners Asset Management, appointing Scott Marden as head of asset management.

Marden rejoins Compass Advisors from Credit Suisse; he was latterly head of information and media at DLJ Merchant Banking Partners, a private equity arm of the Swiss banking giant.

In his new role Marden will be managing partner of the Compass Investment Partners Fund, a new middle market private equity fund. Several investment professionals who worked with Marden at Credit Suisse have also been hired as part of the core private equity team, the firm said in a statement.

The new private equity fund will target transactions in North America in the business and information services sectors. The fund aims to capitalize on globalization, outsourcing, and digitization, and will look to invest in capital-efficient businesses which provide their customers with outsourced services and information using databases, as well as digital platform and proprietary content. High growth sub-sectors such as marketing/communications, healthcare, energy, education, financial and consumer will be served by those companies within the portfolio.

"As the economy continues to recover and transition to a service-based model, we believe this is an opportune time for new investment. Companies that provide timely information and differentiated services that can be distributed through multiple channels will lead the way,” Marden said.

Over the next five years several asset classes are planned, and the private equity fund will evaluate growth capital and leveraged buyout investments.