Credit Suisse First Boston (CSFB) has taken the unusual step of appointing both its European chairman and a European vice-chairman to the board of directors of Private Equity Partners Europe, a new French leveraged buy-out fund in which the bank is an investor.

Chris Carter and Didier Pinceau-Valencienne, the chairman and a vice-chairman of Credit Suisse First Boston in Europe respectively, are both helping to raise capital for the new fund, which is putting the final touches on its investment team. The fund is understood to have already raised €500m ($488m) and is using Paris-based Triago as a placement agent.